May, 2018

• 27 May

  M&S chairman calls the shots as Amazon looms

  

  Bloomberg Marks & Spencer Group Plc Chairman Archie Norman broke with convention when he arrived at the UK retailer’s London headquarters last year, turning down a private office and positioning his desk prominently out in the open. From his perch in the engine room of a once-proud British institution that’s fallen on hard times, Norman quickly started asking questions about …

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• 27 May

  Delta unveils Zac Posen uniforms with a taste of ‘passport plum’

  Bloomberg Delta Air Lines Inc.’s planes and airport operations will soon be awash in shades of purple, red, gray and pink as the company joins an industry rush to refresh employee attire. All 60,000 uniformed workers will switch May 29 to the new outfits, which include flight-attendant clothing designed by Zac Posen and made by Lands’ End Inc., Delta said …

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• 26 May

  Russia set to host global manufacturing summit

  

  Emirates Business The Global Manufacturing and Industrialisation Summit (GMIS) — the pioneering cross-industry forum that aims to unify the world in shaping the future of manufacturing — announced that Russia has secured the rights to host its second edition in 2019 in the city of Yekaterinburg. The announcement was made by the President of the Russian Fedration, Vladimir Putin, during …

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• 26 May

  Saudi signals oil output boost, offering relief to consumers

  

  Bloomberg OPEC and its allies are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80 a barrel, said Saudi Energy Minister Khalid Al-Falih. The Saudi comments, echoed by Russia, mark a major shift in the historic alliance they forged in 2016 to end a global oil glut. …

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• 26 May

  Exxon to slash gas flaring 25% by 2020 in emissions push

  

  Bloomberg Exxon Mobil Corp. plans to reduce the amount of natural gas it burns as waste by a quarter within two years to reduce climate-changing emissions, something long demanded by environmental groups and activist investors. Efforts will be focussed on oil wells off the coast of West Africa, Exxon said in a statement. In that region and others, gas produced …

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• 26 May

  Payouts to US power generators up 83% in PJM auction

  

  Bloomberg Generators that provide capacity to the largest US power grid are going to get paid a lot more for guaranteeing electricity when the market needs it.Suppliers to PJM Intercon nection LLC — which serves more than 65 million people from Chicago to Washington — will receive $140 a megawatt-day for the year starting in June 2021, up 83% from …

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• 26 May

  JPMorgan expands oil & gas practice with Morgan Stanley hires

  Bloomberg JPMorgan Chase & Co. is expanding its oil and gas group with two hires from Morgan Stanley. Jonathan Cox is joining the New York bank as global co-head of oil and gas investment banking and co-head of its Houston office, according to an internal memo obtained by Bloomberg and confirmed by a spokeswoman. Michael Johnson is joining as a …

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• 26 May

  Boeing-backed startup to debut hybrid-electric jet

  

  Bloomberg Boeing Co.-backed startup Zunum Aero plans to deliver its first hybrid-electric plane in 2022 to JetSuite Inc., setting the stage for a new era in regional flying. JetSuite, a small charter airline with plans to expand a commercial operation nationally, eventually will receive as many as 100 aircraft that seat up to 12 passengers each, Zunum co-founder Matt Knapp …

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• 26 May

  TSMC starts making chips for new iPhones

  

  Bloomberg Apple Inc. manufacturing partner Taiwan Semiconductor Manufacturing Co. has started mass production of next-generation processors for new iPhones launching later this year, according to people familiar with the matter. The processor, likely to be called the A12 chip, will use a 7-nanometer design that can be smaller, faster and more efficient than the 10-nanometer chips in current Apple devices …

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• 26 May

  Uber planning first flying-car lab in Paris

  

  Bloomberg Uber Technologies Inc. will open its first research and development centre outside of the US, and has chosen Paris as its home. The ride-hailing company will invest $23.5 million over the next five years in the lab, which will focus on technologies to support the development of Uber’s flying-car initiative, dubbed Uber Elevate, it said. “With world-class engineers and …

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