May, 2018

• 8 May

  Japan Airlines studies setting up budget carrier to lift its capacity

  

  Bloomberg Japan Airlines Co. is examining setting up a new low-fare carrier to increase capacity and take on rising competition from budget operators in Asia’s second-largest economy. Starting a discount airline is part of the carrier’s need to widen its product line-up, Vice Chairman Junko Okawa, 63, said in an interview in Singapore. It is one of several options the …

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• 8 May

  Air France’s future now is in jeopardy: Minister

  

  Bloomberg French Transport Minister Elisabeth Borne said concern is mounting about Air France-KLM Group’s French arm as a protracted labor dispute over wages hurts the airline’s competitiveness and ability to buy new planes. “I’m worried about the future of Air France,” Borne said. The carrier “is less competitive than its partner KLM and other European airlines.” The government has waded …

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• 8 May

  Walmart adds grooming products from Harry’s

  

  Bloomberg Walmart Inc. will offer men’s grooming products from Harry’s later this month, expanding the brand’s reach beyond Target Corp. and giving Walmart a product coveted by millennials. Starting on May 21, the world’s biggest retailer will sell Harry’s goods in 2,200 of its US stores — fewer than half of the total — and online. There are plans to …

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• 8 May

  Starbucks to use Nestle cash for US, China markets

  

  Bloomberg Thanks to Nestle SA, Starbucks Corp. just came into some serious cash. With the Swiss food giant agreeing to pay the coffee chain $7.15 billion for the right to sell Starbucks coffee products at retailers, shareholders can expect to receive their portion of the proceeds via buybacks and dividends. But the company will also funnel investment into its two …

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• 8 May

  Southwest mulls island-hopping from Oahu and Hawaiian tanks

  

  Bloomberg Southwest Airlines Co. intends to offer island-hopping flights within Hawaii after it ramps up service to the state from California, boosting the competitive threat to Hawaiian Airlines. Inter-island flights will “eventually” be added to complement new service from the US mainland, Southwest said in a statement. The carrier named San Jose, San Diego, Sacramento and Oakland as the first …

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• 8 May

  Oreo-maker Mondelez gobbles up Tate’s, a classy Hamptons cookie

  

  Bloomberg Mondelez International Inc. is betting that if you pay more for a classy cookie, you’ll eat more of them. The company, which makes Oreos and Chips Ahoy — mass-market baked goods that bear scant resemblance to the products of your mom’s oven — has agreed to buy Tate’s Bake Shop for about $500 million. The fast-growing company started as …

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• 7 May

  Aldar acquires AED3.7bn of realty assets from TDIC

  

  ABU DHABI / WAM Aldar Properties has announced that it reached an agreement with Tourism Development & Investment Company (TDIC) to acquire a portfolio of prime real estate assets worth AED3.7 billion, in one of the largest real estate acquisitions in the country’s history. Aldar has acquired assets located in key destinations, with a focus on Saadiyat Island. This comprises …

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• 7 May

  Abu Dhabi delegation visits Japan to attract investments

  TOKYO / WAM An Abu Dhabi delegation to Tokyo, headed by Abu Dhabi Investment Office of the Department of Economic Development (DED), held a coordination meeting on Monday in Tokyo. The delegation conducted a series of bilateral meetings between the participating bodies with Japanese investors and businessmen in order to familiarise them with the best investment opportunities that the government …

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• 7 May

  China’s oil deal with Rosneft nixed amid fall of suitor CEFC

  

  Bloomberg The big, rushed and opaque deal for an enigmatic Chinese energy company to buy into Russia’s state oil behemoth has disintegrated. CEFC China Energy Co.’s agreement last year to purchase a $9 billion stake in Rosneft PJSC came to end as the sellers decided not to proceed with the deal. Separately, meetings scheduled for investors holding 15.1 billion yuan …

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• 7 May

  Algeria readies to splash cash as oil prices rise

  

  Bloomberg OPEC member Algeria is looking to boost spending outlined in its 2018 budget by 6 percent, capitalizing on high oil prices ahead of presidential elections next year. A proposed amendment to the 2018 budget law would raise spending to almost 9.13 trillion dinars ($79 billion). The additional funds would be directed to the investment budget, which will rise 12 …

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