March, 2018

• 11 March

  Bank of Canada remains upbeat on economy

  

  Bloomberg The Bank of Canada released an upbeat assessment of the country’s economic expansion, but reiterated the central bank will remain cautious as it seeks to bring interest rates back up to more normal levels. The outlook was delivered in a speech by Deputy Governor Tim Lane, a day after an interest-rate decision where the central bank left borrowing costs …

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• 11 March

  Nordea wins assurances from Finnish govt ahead of HQ move

  

  Bloomberg Finland is promising it won’t add to the list of financial regulations facing Nordea Bank AB as the lender prepares to move its headquarters to the northernmost euro member. The pledge, made by Finance Minister Petteri Orpo, comes a week before shareholders in Nordea vote on its proposal to relocate from Stockholm. The largest Nordic lender, which has been …

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• 11 March

  Costco’s squeeze on suppliers signifies pain for P&G, Nestle

  

  Bloomberg Costco Wholesale Corp. will push suppliers to lower prices on everything from steaks to televisions, aiming to keep customers away from rivals like Amazon.com Inc. The warehouse-club chain wants vendors to shoulder a greater part of the cost of limited-time promotions for its 50 million members. The company is also introducing more products under its Kirkland Signature brand, such …

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• 11 March

  India’s SpiceJet, CFM sign $12.5 billion deal

  

  Bloomberg One of India’s fastest-growing airlines has signed a $12.5 billion deal with CFM International Inc. for engines and a 10-year services contract for an incoming fleet of more than 150 Boeing Co. 737 MAX aircraft. SpiceJet Ltd. has agreed to buy the LEAP-1B engines and spare engines from CFM, which is a joint venture between France’s Safran Aircraft Engines …

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• 11 March

  Smucker mulls sale of Pillsbury, baking brands

  Bloomberg JM Smucker Co is considering a sale of its baking brands, including Pillsbury, according to people with knowledge of the situation. The food manufacturer is working with an adviser as it weighs options for the unit, which also includes the Robin Hood flour and cereal brand and Martha White baking mixes, said the people, who asked not to be …

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• 11 March

  S African Air may not be able to operate

  Bloomberg South African Airways may not be able to continue to operate as a going concern, while the struggling state-owned airline has failed to properly record financial information and the value of assets, according to the Auditor General. SAA made a net loss of about $471 million in the year through March 2017, according to a document signed by AG …

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• 11 March

  WestJet pilots union: New CEO makes labour deal more likely

  

  Bloomberg WestJet Airlines Ltd.’s appointment of a new chief executive officer opens the way for Canada’s No. 2 carrier to hammer out a labour deal with its pilots over the next few months, a union leader said. Relations had soured between the union and CEO Gregg Saretsky as WestJet pilots sought their first bargaining agreement. Those negotiations now fall to …

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• 10 March

  Saudi Aramco, Shell sign deal to pursue global gas opportunities

  

  LONDON / Reuters State oil giant Saudi Aramco signed a preliminary deal to pursue international gas opportunities with Royal Dutch Shell as part of top crude exporter Saudi Arabia’s diversification drive before the listing of Aramco. The memorandum of understanding (MoU) signed in London between the two companies was during the official visit of Saudi Crown Prince Mohammed bin Salman …

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• 10 March

  France, India pledge to push forward on world’s largest ‘N-power plant’

  

  Bloomberg The leaders of France and India reiterated their intention to start work by the end of this year on what could become the world’s largest nuclear power plant, advancing talks that have continued for nearly a decade. French President Emmanuel Macron and Indian Prime Minister Narendra Modi urged Electricite de France SA and India’s monopoly atomic energy producer, Nuclear …

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• 10 March

  Solar coalition set to unveil $700mn of projects

  

  Bloomberg A global coalition aimed at supporting the use of solar power is expected to announce a slew of projects worth about $700 million during its inaugural conference this weekend in New Delhi, according to government officials familiar with the matter. The International Solar Alliance, an initiative launched at the Paris climate talks in 2015, plans to unveil 20 projects …

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