March, 2018

• 18 March

  Saudi crown prince to meet tech giants during US visit

  

  Bloomberg Saudi Arabia’s Crown Prince Mohammed bin Salman plans to meet top global executives, including the heads of Apple Inc and Google, during his first trip to the US since becoming heir to the throne of the world’s largest oil exporter, according to a person briefed on the trip’s details. Crown Prince Mohammed, known among journalists and diplomats as MBS, …

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• 18 March

  Saudi Arabia cutting back on German business dealings

  Bloomberg Saudi Arabia is cutting back on its dealings with some German companies amid a diplomatic spat with its top European trading partner, according to people with knowledge of the matter. Government agencies have been told not to renew some non-essential contracts with German firms following comments made in November by Germany’s then-foreign minister, Sigmar Gabriel, two of the people …

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• 18 March

  Shell, Eni misled Nigeria on oil spills: Amnesty

  

  Bloomberg Royal Dutch Shell Plc and Eni SpA may have misled regulators in Nigeria by wrongly attributing oil spills to theft and sabotage in order to avoid paying compensation to affected communities, rights group Amnesty International said. “Amnesty International researchers have identified that at least 89 spills may have been wrongly labeled as theft or sabotage when in fact they …

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• 18 March

  Iran doubles production at world’s largest gas field

  Reuters Iran has nearly doubled gas production at South Pars, the world’s largest gas field, in the past year, Iranian President Hassan Rouhani said on Sunday, according to state media. Gas production at South Pars increased from 285 million cubic meters to 555 million cubic meters in the past Iranian calendar year, which started in late March 2017, Rouhani said, …

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• 18 March

  Airbus sees C Series deal closing this year

  

  Bloomberg Airbus SE’s deal to take a controlling stake in the Bombardier Inc. C Series jetliner programme could be finalised by the time of the Farnborough Air Show this summer, according to people familiar with the matter. Antitrust approval for the plan, which the planemakers had been seeking by the end of the year, is likely to come earlier than …

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• 18 March

  Toys ‘R’ Us shutters stores

  

  Bloomberg The collapse of Toys ‘R’ Us Inc. is yet another blow for landlords, who now will have gaping holes of suburban retail space up for grabs. And few tenants would want them. The debt-laden toy chain, with more than 700 stores across the US, became one of the largest victims of the retail decline when it announced that it …

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• 18 March

  Coles spinoff plan may put Australian retail giant in play

  

  Bloomberg Wesfarmers Ltd.’s plan to spin off its Coles supermarket and convenience stores could put the Australian retailing giant in play. The business, which generated A$39.2 billion ($30.5 billion) in sales from 2,500 stores in fiscal 2017, could be attractive to a buyer looking to make a big splash Down Under, Citigroup Inc.’s Sydney-based credit specialist Anthony Ip said. “We …

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• 18 March

  Walmart whistleblower claims cheating in race with Amazon

  

  Bloomberg In its race to catch Amazon.com Inc. in online retailing, Walmart Inc. issued misleading e-commerce results and fired an executive who complained the company was breaking the law, according to a whistle-blower lawsuit. Tri Huynh, a former director of business development at Walmart, claims he was terminated “under false pretenses” after repeatedly raising concerns about the company’s “overly aggressive …

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• 17 March

  Tech giants to face 3% tax on revenue under EU plan

  Bloomberg Large digital companies operating in the European Union, such as Alphabet Inc. or Twitter Inc., could face a 3% tax on their gross revenues based on where their users are located, according to a draft proposal by European Commission. The draft was circulated and outlines how a targeted levy on gross revenues would increase the tax bill digital giants …

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• 17 March

  G-20 outlines threat to growth

  Bloomberg Global finance chiefs are set to warn that the broadest and stro-ngest economic expansion since the turn of the decade would be thrown into jeopardy if governments turn inward. In the draft of a statement that finance ministers and central bankers will discuss during talks in Buenos Aires beginning on Monday, the Group of 20 repeated a pledge to …

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