February, 2020

• 25 February

  Amazon set to open larger Go Grocery store in Seattle

  

  Bloomberg Amazon.com Inc is taking aim at the urban grocery market with a larger version of its cashierless Go convenience store. The company on Tuesday was set to open the first Go Grocery, located in Seattle’s Capitol Hill neighbourhood, not far from the online retailer’s headquarters. The store is about five times the size of a typical Amazon Go — ...

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• 25 February

  United Air abandons 2020 profit goal on China virus outbreak

  

  Bloomberg United Airlines Holdings Inc withdrew its 2020 profit forecast, citing the financial impact of the coronavirus outbreak in China. The uncertainty surrounding the virus means United can’t guarantee its earlier goal of earning $11 to $13 a share this year, according to a regulatory filing. The earnings target is still within reach if the outbreak runs its course by ...

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• 25 February

  Kobe Bryant’s widow sues helicopter firm for fatal crash

  

  Bloomberg Kobe Bryant’s widow sued the owner of the helicopter that crashed in California last month, killing the retired basketball legend, their 13-year-old daughter and seven others. Vanessa Bryant is seeking compensatory and punitive damages from Island Express Helicopter Inc for negligence, according to a complaint submitted in California Superior Court in Los Angeles. The lawsuit has yet to be ...

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• 25 February

  Boeing CEO faces long to-do list to collect $7m bonus

  

  Bloomberg Boeing Co CEO Dave Calhoun stands to reap a $7 million bonus once the planemaker finally gets the grounded 737 Max jetliner back in the air. But there’s a catch, according to a company filing. To collect, the new CEO must also resolve lingering issues with the aerospace titan’s other problem-plagued programs. That means achieving the first human flight of ...

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• 25 February

  Boingo Wireless explores potential sale

  Bloomberg Boingo Wireless, the WiFi service used by travellers, is exploring a potential sale after receiving takeover interest, according to people familiar with the matter. The Los Angeles-based mobile internet services provider is working with an adviser to explore its options and field potential offers, said the people, who asked to not be identified because the matter isn’t public. Boingo ...

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• 25 February

  Shake Shack slips as sales outlook misses estimates

  Bloomberg Shake Shack Inc tumbled in late trading after the burger-and-fries chain gave a revenue projection for 2020 that fell short of analysts’ projections. Comparable-store sales — a key measure of restaurant and retail performance — and revenue also fell more than anticipated in the fourth quarter, as delivery growth slowed amid a shift to a partnership with Grubhub Inc. ...

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• 24 February

  Oil dips, gold heads to $1,700 as virus rocks commodities

  

  Bloomberg Renewed fears that the coronavirus will harm global growth rocked commodity markets again on Monday, with oil and metals prices tumbling while gold soared towards $1,700 an ounce amid a flight to haven assets. As the deadly virus spreads more widely outside China, raising the threat of a global pandemic, finance chiefs and central bankers from the world’s largest ...

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• 24 February

  Adasi signs AED234m deal to supply ‘S-100 UAVs’ to UAE Armed Forces

  

  ABU DHABI / WAM Abu Dhabi Autonomous Systems Investments Company (Adasi), on Monday announced that it has signed an AED234 million contract to supply the new Camcopter S-100 unmanned aerial vehicles (UAVs), to the UAE Armed Forces. Ali Al Yafei, CEO of Adasi, made the announcement on the sidelines of the Unmanned Systems Exhibition and Conference (Umex 2020), that is ...

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• 24 February

  Mena’s water desalination market to hit $4.3b by 2022

  

  ABU DHABI / WAM Water scarcity in the region is of a rising concern, particularly as governments are moving away from reliance on traditional water resources to meet population demands, report findings have revealed. According to the ‘Mena Desalination Market’ report by Ventures Onsite, the Mena region’s investment in the water desalination market has increased “substantially”. It noted that 48 ...

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• 24 February

  US-India to seal $3bn defense deals: Trump

  

  Bloomberg The US will sign military deals worth more than $3 billion with India on Tuesday, President Donald Trump said at the start of a two-day state visit to the South Asian nation. “We make the greatest weapons ever made. Airplanes. Missiles. Rockets. Ships. We make the best and we’re dealing now with India. But this includes advanced air-defense systems ...

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