April, 2018

• 4 April

  Trump-Xi tariff war hits Boeing, spurs Airbus to cruise ahead

  

  Bloomberg Boeing Co., the biggest US exporter, suffered a setback in China after the country proposed an additional 25 percent tariff on US aircraft in a retaliatory move, giving rival Airbus SE a leg-up in a market set to the become the world’s biggest. In a tit-for-tat response to tariffs by President Donald Trump, China announced the planned levy on …

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• 4 April

  Hershey spends $500mn for sustainable Kisses

  

  Bloomberg Hershey Co. is spending $500 million in the hopes of producing its iconic chocolate Kisses from more sustainable cocoa. Through its so-called Cocoa for Good programme, the company will invest the funds through 2030 to support four key areas: nourishing children, empowering youth, building prosperous communities and preserving natural ecosystems. The initiative’s goals include eliminating child labor and increasing …

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• 4 April

  Southwest in talks with Boeing for additional 737 Max orders

  

  Bloomberg Southwest Airlines Co. is considering an order for “more than a handful” of Boeing Co.’s 737 Max aircraft as the nation’s largest discount carrier benefits from lower tax rates and expanding travel demand. Discussions with Boeing are ongoing, Southwest Chief Executive Officer Gary Kelly said without specifying a number for a potential order. The CEO reaffirmed that the airline …

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• 4 April

  Taco Bell plans ‘explosive growth’ in Australia after sales jump

  

  Bloomberg Taco Bell, increasingly focussed on global growth amid a saturated US market, is expanding Down Under. In November, the chain opened its first Australian restaurant in Brisbane, and it has exceeded management’s expectations, said Liz Williams, president of Taco Bell International. Sales are several million dollars higher than a typical unit, she said, declining to provide specifics. Now, Taco …

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• 3 April

  US stocks bounce back with tech; Treasuries weaken, dollar steady

  

  Bloomberg US stocks bounced back from Monday’s selloff as the rout in technology selloff eased and carmakers rallied on strong sales reports. Treasuries and gold retreated. The S&P 500 climbed from the lowest level since early February after closing below the 200-day moving average for the first time since the Brexit vote almost two years ago. General Motors jumped almost …

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• 3 April

  Egypt falls on failed buyout offer, Gulf mostly lower

  

  Reuters Egyptian stocks fell on Tuesday, hit by a plunge in index heavyweight Global Telecom after the company’s majority shareholder withdrew a buyout offer, while Saudi Arabia stabilised after three days of falls. Most Gulf markets were lower or flat in the absence of fresh cues ahead of quarterly earning announcements for companies, which began this week. A six-day rally …

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• 3 April

  Russia sees joint organisation for cooperation with OPEC on cards

  

  ANKARA / Reuters Russian Energy Minister Alexander Novak said on Tuesday a joint organisation for cooperation between OPEC and non-OPEC countries may be set up once the current deal on oil output curbs expires at the end of this year. Saudi Crown Prince Mohammed bin Salman told Reuters last month that Saudi Arabia and Russia are working on a historic …

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• 3 April

  PetroVietnam says South China Sea tensions will hurt offshore operations

  

  HANOI / Reuters Tension in the South China Sea will hurt PetroVietnam’s offshore exploration and exploitation activities this year, the state-run oil and gas group said on Tuesday, weeks after the Southeast Asian nation suspended a project under pressure from China. Vietnam and China have been embroiled in maritime disputes in parts of the busy waterway, where China claims 90 …

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• 3 April

  China CEFC’s financial woes deepen as creditors file multiple lawsuits

  

  HONG KONG / Reuters CEFC China Energy has been hit by legal action from a creditor, even as the cash-strained conglomerate’s biggest financial backer, China Development Bank (CDB), is attempting to dissuade lenders from taking action, sources said. State-backed China Everbright Bank Co has filed multiple lawsuits against CEFC (Shanghai) International Group Co, a CEFC subsidiary, in a Shanghai court …

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• 3 April

  UN sanctions North Korean ship for fuel transfer at sea

  LONDON / Reuters The United Nations has blacklisted a North Korean ship for receiving oil in an October transfer that breached UN sanctions, as first revealed by Reuters. Reuters in December reported that Russian tankers had supplied fuel to North Korea, which relies on imported fuel to keep its struggling economy functioning, by transferring cargoes at sea. European security sources …

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