May, 2018

• 7 May

  Nestle bets $7bn on Starbucks to revive its global coffee sales

  

  Bloomberg Starbucks Corp. is giving Nestle SA a shot at revitalising its global coffee business. In the third-biggest transaction in Nestle’s 152-year history, the Swiss food giant will spend $7.15 billion for the right to market Starbucks-branded products from beans to capsules, marrying its international distribution network with the allure of arguably the biggest name in java. Nestle won’t get …

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• 7 May

  Africa’s e-commerce firm sets sights on Egypt market

  

  Bloomberg Africa’s leading online shopping platform, Jumia, wants to make Egypt its biggest market on the continent, and it’s turning to an unexpected corner for help: the country’s vast network of unlicensed vendors. Often touted as Africa’s answer to online retail giant Amazon, Jumia wants 10-fold growth in revenue from Egypt and six-fold growth in the number of products offered …

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• 7 May

  China hits back after US blasts ‘Orwellian’ rule for airlines

  Bloomberg China isn’t backing down after the White House called an order for airlines to stop referring to Taiwan, Hong Kong and Macau as countries “Orwellian nonsense.” The foreign ministry in Beijing said that all three places “are indivisible parts of China.” Hong Kong and Macau answer to Beijing, despite having different currencies, separate financial systems and elected legislators, while …

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• 7 May

  Air France tumbles as CEO prepares to quit

  

  Bloomberg Air France-KLM Group is facing its biggest crisis in years as CEO Jean-Marc Janaillac prepares to quit amid a deepening labour conflict that the French government has warned is threatening its very survival. The stock dropped as much as 14 percent, the most since 2002. Even before today, the shares had lost 40 percent in value this year, making …

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• 7 May

  Tom Brady’s meal-kit maker gets boost from Del Monte

  Bloomberg Purple Carrot, the meal-kit company that partnered with Tom Brady to create the quarterback’s TB12 line of food, is getting a boost from the fruit and vegetable giant Fresh Del Monte Produce Inc. Del Monte, which generates more than 40 percent of its revenue selling bananas, is investing $4 million in the Needham, Massachusetts-based startup. The deal gives Purple …

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• 7 May

  US airlines are ready to party in Hawaii with a flood of seats

  

  Bloomberg Who doesn’t love a Hawaiian holiday? Airlines have recognized strong traveller demand for the Aloha State and are pouring on new service — even before Southwest Airlines Co. launches its planned entry into the market. American Airlines Group Inc. plans to begin a daily winter flight from Chicago to Honolulu on December 19. Hawaiian Holdings Inc. also plans additional …

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• 6 May

  Enoc sales volumes reach 249mn barrels

  DUBAI / WAM Enoc Group unveiled on Sunday that its sales volume in 2017 reached 249 million barrels, underpinned by the group’s strategic expansion of trading activities, retail operations, energy storage and petroleum product marketing efforts. Saif Humaid Al Falasi, Group CEO of Enoc, said, “The UAE is an integral player in the global energy landscape and is at the …

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• 6 May

  Al Ahli to develop unique entrepreneurial, media hub

  

  DUBAI / Emirates Business A unique world-class pioneering project to facilitate and support the growth of local and international entrepreneurs and position the UAE as a leading light in global business innovation is being brought forward by Al Ahli Holding Group. The Dubai-based multi-diversified conglomerate is behind Nomad, a highly ambitious one million square foot entrepreneur and media hub which …

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• 6 May

  Good-as-it-gets bear case on stocks keeps drowning out earnings

  

  Bloomberg It’s not what have you done for me lately. For companies in the S&P 500 Index, it’s what will you do for me next. And that’s proving a thorny question for US equity bulls. Another week of stellar earnings reports has gone by without any payoff in stocks. Even Friday’s rally, the biggest in almost a month, couldn’t turn …

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• 6 May

  Pound may regain lost ground if BOE decides on ‘hawkish hold’

  

  Bloomberg Once again, the pound’s fortunes lie with the Bank of England. Traders will scrutinise the central bank’s policy decision on Thursday for any signs that an interest-rate hike this year is still in the cards. A lot of bad news has already been baked into the UK currency and a “relatively hawkish hold” from the BOE could push it …

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