May, 2018

• 12 May

  Garuda cancels some flights as Indonesia’s Merapi erupts

  

  Bloomberg PT Garuda Indonesia, the country’s flag carrier, has cancelled 14 flights to Yogyakarta after a volcano about 19 miles north of the city erupted and forced authorities to close the local airport. The airfield, 520 kilometres southeast of Jakarta on the island of Java, was closed at about 10:42 am on May 11 local time, and reopened at 2:17 …

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• 12 May

  JetBlue reaches labour deal with pilots union

  Bloomberg JetBlue Airways Corp. has reached an initial agreement with its pilots union, marking the first such accord in the carrier’s history. The deal, announced by the Air Line Pilots Association and confirmed by JetBlue, will be reviewed by union leaders, who will make adjustments to the final contract language and decide whether to send it to members for a …

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• 12 May

  Even discount airlines add Wi-Fi as big rivals bare their fangs

  

  Bloomberg Step aboard an ultra-low-cost airline such has Ryanair or Frontier and the amenities can be jarringly Spartan. To keep costs low, free snacks don’t exist and in-flight entertainment is the seatback safety card. How do you distract passengers from this painful minimalism? Well Wi-Fi, of course, a lesson learned by a small but growing group of no-frills carriers. For …

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• 9 May

  Oil jumps on supply bets as Treasury yield tops 3 percent

  

  Bloomberg Oil rallied after President Donald Trump’s decision to walk away from a nuclear deal with Iran, while the dollar slipped and 10-year Treasury yields topped 3 percent ahead of a key bond auction. US stock indexes edged higher. Energy shares advanced after West Texas oil reversed Tuesday’s slump to trade above $71 per barrel as the market came to …

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• 9 May

  BlackRock eyes spare change with bet on small-time investors

  

  Bloomberg BlackRock Inc., already sitting on a mountain of assets, is turning its attention to a much smaller market — your pocket change. The $6.3 trillion money manager said it became an anchor investor in Acorns, an app that allows rookie investors to put spare change from everyday purchases into diversified exchange-traded fund portfolios, according to a news release on …

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• 9 May

  Oil surges to three-year high as Trump tells buyers to cut back on Iranian crude

  

  Bloomberg Oil rose to a three-year high after the US told buyers of Iranian crude they have six months to curb their purchases or face tough penalties. While the full impact of President Donald Trump’s decision to withdraw from the nuclear deal is still unclear, the re-imposition of far-reaching sanctions is expected to start reducing shipments from the Middle East’s …

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• 9 May

  Exxon Mobil unit sells Italy refinery, fuel terminals to Algeria

  Bloomberg Exxon Mobil Corp. agreed to sell a refinery and three fuel terminals in Italy to Algeria, as the OPEC member seeks to cut fuel imports by refining its own crude. Esso Italiana Srl, a unit of Exxon Mobil in Italy, signed an agreement for the sale of its Augusta refinery in Sicily to Algerian state energy producer Sonatrach, according …

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• 9 May

  Shell’s Canadian Natural sale removes cloud weighing on shares

  Bloomberg Royal Dutch Shell Plc’s plan to sell its $3.3 billion stake in Canadian Natural Resources Ltd. put a dent in the oil-sands producer’s shares, but there’s a silver lining. The impending sale removes a cloud that had loomed over Canadian Natural since Shell took the shares as part of a $7.25 billion deal last year and signalled it would …

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• 9 May

  Wall Street’s quest for China supremacy takes political turn

  

  Bloomberg International politics are looming large over the race among global investment banks to secure coveted permits for taking majority stakes in Chinese securities joint ventures. Switzerland’s UBS Group AG and Nomura Holdings Inc. of Japan in the past week became the first to apply for permission to buy 51 percent stakes in local securities JVs. Both banks acted after …

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• 9 May

  Deutsche Bank mulls US cuts hitting 20% of staff

  Bloomberg Deutsche Bank AG is considering a sweeping restructuring in the US that could result in the firm cutting about 20 percent of staff in the region, according to people briefed on the matter. The bank is nearing a decision and the final reductions may end up lower, one of the people said, asking not to be identified because the …

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