January, 2020

• 7 January

  American settles with Boeing after ‘Max drag’

  

  Bloomberg American Airlines Group Inc has reached a settlement with Boeing Co over last year’s financial blow from the 737 Max grounding, and the carrier said it would share about $30 million of the proceeds with employees. The companies are still in talks over compensation for damages beyond 2019, American said in a statement. The Max’s absence since March shaved ...

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• 7 January

  Norwegian Air gains as carrier reaps rewards of cost focus

  

  Bloomberg Shares in Norwegian Air Shuttle ASA rose after the budget airline that had once targeted growth at any cost showed it’s now improving profitability. The carrier, which is based in a suburb of Oslo, gained as much as 6.5% on Tuesday. Norwegian, which has grappled with high debts for years, said its unit revenue rose 21% in December, marking ...

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• 7 January

  UK grocers Dec sales hit five-year low

  

  Bloomberg British grocers suffered their weakest holiday sales growth in five years amid intense discounting as consumers reined in spending during the critical Christmas period. Data from the retail analysis divisions of Nielsen and Kantar show that UK supermarket sales increased only marginally. Nielsen recorded 0.5% growth for the four weeks ended on December 28, which it said was the ...

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• 7 January

  Bed Bath & Beyond sells some real estate

  

  Bloomberg Bed Bath & Beyond Inc, the home-goods retailer mired in a lengthy sales slump, rose after selling some real estate in a deal that generated net proceeds of more than $250 million. The properties represent about 2.1 million square feet of space, including retail stores, a distribution facility and offices, the company said. It is leasing back the space ...

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• 7 January

  Pier 1 to cut staff, weighs bankruptcy plan; stock dips

  Bloomberg Pier 1 Imports Inc is planning to dismiss about 40% of its headquarters staff and shut about 450 stores in an attempt to overhaul the troubled home furnishings business. The retailer has drafted a bankruptcy plan and last month made a presentation to creditors that envisioned a smaller company with about $900 million in annual sales, according to people ...

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• 6 January

  Oil touches $70 as US-Iran clash sparks supply fears

  

  Bloomberg Oil extended its gains, briefly surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the US assassinated one of Iran’s most powerful generals. Futures rose as much as 3.1% on Monday as the US State Department warned of a “heightened risk” of missile attacks near energy facilities in Saudi Arabia. ...

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• 6 January

  Etihad waives flight change fees for ‘affected’ Australians

  ABU DHABI / WAM Etihad Airways will waive flight changes for Australian residents affected by the ongoing bushfires in the country. In a statement released on Monday, the UAE flag carrier said, “In response to the country’s devastating bushfires, Etihad Airways will waive flight change fees for Australian residents affected by this ongoing national emergency.” “The waivers will apply for ...

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• 6 January

  UAE, Czech Republic to enhance economic ties

  

  ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, highlighted the developing bilateral economic ties between the UAE and the Czech Republic, supported by the mutual keenness of their leaderships to reinforce them. He made this statement while receiving Jiri Slavik, Czech Ambassador to the UAE, at the headquarters of the Ministry of Economy, in the presence ...

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• 6 January

  Value of ‘Internet of Medical Things’ in Mena to reach $9 billion by 2022

  

  DUBAI / WAM A recent report has noted that the value of the Internet of Medical Things (IoMT), for the Mena region is expected to increase to $9 billion by 2022. The report was released in the run-up to Arab Health, the Mena region’s largest exhibition for healthcare and trade professionals. The exhibition will showcase the role technology has on ...

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• 6 January

  Gold surges to 7-year high

  Bloomberg Gold surged to its highest since 2013 as rising tensions in the Middle East stoked demand for havens, with Goldman Sachs Group Inc. seeing more room to run. Palladium extended gains to a fresh record. Bullion neared $1,600 an ounce after Tehran said it would no longer abide by any limits on its enrichment of uranium following the killing ...

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