January, 2018

• 17 January

  Heathrow’s sloping runway plan to cut costs by $3.4bn

  

  Bloomberg London’s Heathrow Airport put forward proposals for a sloping runway and said the landing strip could be shortened as it seeks to cut 2.5 billion pounds ($3.4 billion) from the cost of expansion plans. Europe’s busiest hub also proposed the phased opening of new terminals and a number of alternative road links as part of a 10-week consultation aimed …

  Read More »
• 17 January

  UK growth outlook dims as household spending to weaken

  

  BLoomberg The UK economy isn’t going to pick up for at least the next two years as consumers struggle to lift spending. Respondents to Bloomberg’s first UK survey of 2018 showed few signs of new year optimism. The median forecast for growth this year was kept at 1.4 percent, and no acceleration is seen in 2019. While gross domestic product …

  Read More »
• 17 January

  Boeing barges into aircraft-seat business in threat to suppliers

  

  Bloomberg Fed up with delays that have plagued production of luxurious jetliner cabins, Boeing Co. is forming its own company with a major seat supplier to the auto industry. The joint venture with Adient Plc will be based near Frankfurt, Germany, along with a technology center and an initial production plant, the companies said in a statement. It will market …

  Read More »
• 17 January

  Qantas named as least fuel-efficient airline

  Bloomberg Qantas Airways Ltd. is the least fuel efficient and burns the most carbon of major airlines that fly across the Pacific Ocean, according to a report by the International Council on Clean Transportation. Qantas burns an average of one liter of aviation fuel to fly a passenger 22 kilometres, 64 percent more than the 36 kilometres achieved by the …

  Read More »
• 16 January

  Stocks race to records as earnings remain strong

  

  Bloomberg US stocks jumped to records with the Dow Jones Industrial Average crossing 26,000 and S&P 500 Index surpassing 2,800, both for the first time, as Citigroup Inc. posted healthy earnings and discussed possible significant investor payouts from the bank’s windfall stemming from a major tax cut. All major US equity gauges were higher. The dollar gained after its lowest …

  Read More »
• 16 January

  Crypto-linked stocks return to earth as Bitcoin, Ripple fall

  

  Bloomberg Companies that have seen their fortunes—and share prices—soar with the crypto-craze are now facing a little bit of a reality check. As Bitcoin slumped as much as 20 percent and Ripple tumbled as much as 33 percent, firms that touted their links to the burgeoning blockchain industry, including Riot Blockchain Inc., Overstock.com Inc. and DPW Holdings Inc., saw their …

  Read More »
• 16 January

  Saudi Fund in talks to buy stake in Miss Universe owner Endeavor

  

  Bloomberg Saudi Arabia’s sovereign wealth fund is in talks to buy a stake in Endeavor, the holding company for Hollywood talent agency WME, people familiar with the matter said. The Public Investment Fund, known as PIF, is in preliminary discussions to invest more than $500 million, which will help the talent agency for Ben Affleck and Matt Damon expand its …

  Read More »
• 16 January

  Saudi plans up to $7bn renewables this year

  

  Bloomberg Saudi Arabia expects to start up to $7 billion of renewable energy projects this year, with solar plants leading the way. Tenders will be issued this year for eight projects totaling 4.125GW of capacity, Turki Mohammed Al Shehri, head of the kingdom’s Renewable Energy Project Development Office, said on Tuesday in an interview in Abu Dhabi. The cost will …

  Read More »
• 16 January

  Oil propelled past $70 as Iraq calls for sticking to OPEC cuts

  

  Bloomberg Oil reached new highs in London as OPEC members called for output curbs to continue, allaying concerns that the recent rally could weaken their commitment. Brent crude closed above $70 a barrel for the first time in three years after Iraqi Oil Minister Jabbar al-Luaibi said that production curbs have contributed to stability in the market and should remain, …

  Read More »
• 16 January

  As crude rallies, Husky Energy may emerge as top oil-sands stock pick

  

  Bloomberg Husky Energy Inc., the best oil-sands stock last year, may emerge as a top pick for investors who are looking to capitalize on surging crude prices and already have shares of the largest Canadian producers. The company controlled by Hong Kong billionaire Li Ka-Shing is the cheapest stock among six producers in North America that also own refineries, trading …

  Read More »