December, 2019

• 23 December

  Daimler and BMW can’t compete with Uber, Lyft

  

  There’s a school of thought that says the dominant business model for tech startups isn’t B2B (business-to-business) or D2C (direct-to-consumer). It’s really V2C: venture-capital-to-consumer. In other words, piles of venture capital are being directed into the pockets of consumers — often tech-savvy millennials — in the form of discounted services provided by startups prioritizing growth over profit. The fact that ...

  Read More »
• 23 December

  Zuckerberg isn’t always a colourless automaton

  

  I now have low expectations when Mark Zuckerberg writes a manifesto, gives a speech, grants media interviews or fields questions from lawmakers. In these settings, and particularly on questions about how the world should or does work, Facebook Inc.’s chief executive officer can seem over-rehearsed, scarily superficial, cravenly political, evasive — or all of the above. But in less-scripted moments, ...

  Read More »
• 23 December

  IndiGo woes rise as India steps up scrutiny of Airbus engines

  

  Bloomberg India has stepped up scrutiny of engines on Airbus SE’s A320neo jets, forcing the country’s biggest airline, IndiGo, to have to replace more than previously estimated, a move that could further delay the budget carrier’s expansion plans. A “more intense boroscopic examination” of engines manufactured by Pratt & Whitney has identified more engines at risk of shutting down in ...

  Read More »
• 23 December

  Boeing CEO Dennis Muilenburg resigns

  

  Bloomberg Dennis Muilenburg was ousted as chief executive officer of Boeing Co., a once-unthinkable turning point for a US industrial champion engulfed in turmoil after two deadly crashes of its top-selling 737 Max jetliner. David Calhoun, a General Electric Co. veteran who had served as chairman since October, will replace Muilenburg as CEO and president on January 13, Boeing said ...

  Read More »
• 23 December

  Airbus pulls anniversary book over fraud-probe concerns

  

  Bloomberg Airbus SE officially cancelled a book commissioned for its 50th anniversary, citing a shift in its ‘‘communication content goals.” “Airbus acknowledges the quality of the finished manuscript,” the company said in a statement, which was titled ‘‘Airbus: The First 50 Years” and written by ex-New York Times journalist Nicola Clark. Bloomberg News reported in July that the book was ...

  Read More »
• 23 December

  Ryanair COO to move to rival EasyJet

  Bloomberg Ryanair Holdings Plc lost a bid to stop a top executive joining rival EasyJet Plc next month after a bitter legal battle. An Irish judge ruled Chief Operating Officer Peter Bellew can join EasyJet in the same role on January 1 as planned. Ryanair had argued that Bellew must abide by a 12 month non-compete clause before moving to ...

  Read More »
• 23 December

  Nike’s race higher hits stumbling block after earnings

  

  Bloomberg After hitting a record high, Nike Inc. is finding it harder to keep investors happy. Even though the company posted quarterly results that sailed past Wall Street estimates, the shares dipped, suggesting some investors were looking for an even bigger upside surprise. Fiscal second-quarter profit rose to 70 cents a share, Nike said, beating 58-cent average of analysts’ estimates. ...

  Read More »
• 22 December

  Kuwait, Saudi to reach pact over neutral-zone oil soon

  

  Bloomberg Kuwait and Saudi Arabia could reach an agreement by the end of this year to renew oil output in the shared neutral zone along their border, Kuwaiti Oil Minister Khaled Al-Fadhel said. The neutral zone, which has been shuttered for at least four years, can produce as much as 500,000 barrels a day. The zone’s Wafra and Khafji fields ...

  Read More »
• 22 December

  Abu Dhabi breaks Guinness record for largest AR screen

  

  Abu Dhabi / WAM The Department of Culture and Tourism – Abu Dhabi has just been awarded with the Guinness World Records title for the ‘Largest Augmented Reality (AR), Screen’, as part of a pioneering augmented-reality advertising campaign to promote the UAE capital as a world-leading holiday destination. The latest marketing campaign utilised the famous 40-foot digital billboard known as ...

  Read More »
• 22 December

  UAE banks’ investments hit $108b in November

  ABU DHABI / WAM The UAE central bank revealed on Sunday that total banking investments reached AED396.2 billion ($107.86 billion) in November. According to banking indicators released by central bank, debt securities saw a jump of 16.7% year-to-date, with a total of AED245.4 billion. Bank deposits saw a rise of 4.6% year-on-year, with a total of AED1.8 trillion in November ...

  Read More »