February, 2020

• 10 February

  Brazil’s Embraer bemoans EU delay of tieup with Boeing

  

  Bloomberg Embraer SA’s top salesman expressed his concerns about European Union (EU) regulators for holding up an agreement to sell the company’s commercial plane business to Boeing Co. “I am better at supporting my team in designing and building and selling new aircraft than I am at the tedious environment or the structured environment of going through antitrust approval,” John ...

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• 10 February

  Airbus, Bombardier in talks for A220 stake sale

  

  Bloomberg Airbus SE is in talks to buy out Bombardier Inc’s stake in the A220 jetliner program, according to people familiar with the matter. The negotiations between the companies are at an advanced stage, said the people, who asked not to be identified because the talks are private. The deal could be announced as early as this week, with both ...

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• 10 February

  NASA faults Boeing for ‘critical software defects’ in Starliner

  

  Bloomberg NASA is reviewing Boeing Co’s software engineering, and it doesn’t like what it sees. Lurking behind 1 million lines of code for Boeing’s CST-100 Starliner spacecraft lies a deficient development process that led to two software flaws during a failed test flight, the US space agency said. The “critical software defects” — either of which could have caused the ...

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• 10 February

  Tesco asks Thai tycoons for next-round bids for Asia unit

  

  Bloomberg Britain’s largest supermarket chain Tesco Plc is inviting Thai tycoons to the second round of bidding for its operations in Thailand and Malaysia that could fetch more than $7 billion, according to people with knowledge of the matter. Thai billionaire Dhanin Chearavanont’s Charoen Pokphand Group and Central Group, controlled by the Chirathivat family, were picked to proceed with deadline ...

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• 10 February

  UK winds propel fastest flight from New York

  Bloomberg Wind filled the highest ever portion of Britain’s electricity needs as Storm Ciara moved across the country, disrupting power supplies, interrupting transport and forcing soccer matches to be postponed. High winds also helped shorten the flying time from North America to Europe. British Airways flight 112 became the fastest ever subsonic passenger flight from New York to London, at ...

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• 10 February

  Coach owner Tapestry sales top estimates

  Bloomberg Tapestry Inc rose after posting strong sales at its Coach brand while the struggling Kate Spade unit’s results weren’t as bad as expected. Still, the company said its full-year forecast will be negatively impacted by the coronavirus. Coach same-store sales grew 2% worldwide in the second quarter, topping the 1% average of analysts’ estimates, according to Consensus Metrix. Kate ...

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• 9 February

  NBF reports AED552.2m net profit

  FUJAIRAH / WAM The National Bank of Fujairah (NBF), on Sunday reported its full year financial results for the year ended 31st December 2019, announcing a net profit of AED552.2 million. The bank also announced in a press statement a total comprehensive income of AED611.5 million, up 4.5 percent compared to AED585.4 million in 2018, as a result of improved ...

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• 9 February

  Saudi stocks see decline again as oil sinks further

  

  Bloomberg Saudi Arabia’s main stock index dropped for a third day, finishing below a mark it has held since December, as the coronavirus reduces demand for oil. The Tadawul index fell 1.3%, the most among major gauges in the Middle East and below its 100-day moving average for the first time this year. State oil producer Saudi Aramco retreated as ...

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• 9 February

  Emaar Malls net profit rises to AED2.286 billion in 2019

  

  DUBAI / WAM Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, recorded a five percent increase in revenue to AED4.673 billion, compared to AED4.446 billion in 2018. The company revealed in a statement that overall net profit in 2019 amounted to AED2.286 billion, similar to net profit for 2018 of AED2.230 billion. Revenue grew by four ...

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• 9 February

  Over 70 aviation firms pull out of Singapore Airshow amid virus

  

  Bloomberg Lockheed Martin Corp and Raytheon Co. are among more than 70 international aviation companies withdrawing from Asia’s largest aerospace and defense conference in Singapore as concerns mount over the new coronavirus outbreak. Organiser Experia Events said the airshow which starts on February 11 will continue as planned, and companies that had pulled out represent less than 8% of participants. ...

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