December, 2019

• 25 December

  Boeing CEO’s ouster won’t solve deeper problems

  

  Two years ago, Boeing Co. could do no wrong. Lately, it can do nothing right, and someone had to pay the price. That person turned out to be Chief Executive Officer Dennis Muilenburg. Boeing announced that he was resigning because the board had decided a change in leadership “was necessary to restore confidence in the company” after two fatal crashes ...

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• 25 December

  If Credit Suisse has tailed anyone, its CEO didn’t know

  

  The Credit Suisse AG spy scandal was supposed to be a one-off incident, albeit an astonishing one. It turns out it wasn’t. Worse, the Swiss bank is in the surreal situation of confirming that it now knows it tailed multiple people, but that its board and management were completely in the dark, and that Chief Executive Officer Tidjane Thiam definitely ...

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• 25 December

  Fighting shipping pollution is bad for the planet

  

  The shipping industry is getting serious about cutting sulfur dioxide emissions. People who live along busy shipping lanes will see health benefits from reduced particulate emissions and a reduction in acid rain when new regulations come into force on January 1. But the sulfur particles help offset some of the warming caused by powering the ships, so the rules may ...

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• 25 December

  Mexican airport U-turn spurs interest in Lima expansion

  

  Bloomberg Mexico’s decision to cancel a $13 billion airport has made investors hungrier to participate in the expansion of Peru’s main air terminus, according to the project’s director. Anton Aramayo, who is overseeing the plans at Lima Airport Partners, said dozens of international companies are interested in bidding for around $1.2 billion of works to build a second runway and ...

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• 25 December

  ‘Nut rage’ heiress slams brother atop family business

  

  Bloomberg The South Korean business dynasty that gained notoriety with the “nut-rage incident” is generating turbulence again. Heather Cho, 45, the eldest daughter of the founding family’s late patriarch, voiced her discontent over how her brother has been running the Hanjin conglomerate, whose units include flag carrier Korean Air Lines Co. Walter Cho, the 43-year-old chairman of Hanjin Group and ...

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• 25 December

  Shoppers in Asia want Europe’s handbags, not its supermarkets

  

  Bloomberg Even as global consumer brands grow more dependent on Asia for sales of everything from fancy handbags to baby formula, European retailers keep retreating from the world’s fastest-growing markets. The UK’s Tesco Plc, which said this month that it’s weighing a sale of its Thailand and Malaysia operations, is just the latest. Earlier this year, Germany’s Metro AG and ...

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• 25 December

  Mechanic accepts sabotaging jet: American

  Bloomberg An American Airlines Group Inc. mechanic pleaded guilty to attempted destruction of an aircraft for tampering with a critical flight-monitoring device on a jet in Miami. Abdul-Majeed Marouf Ahmed Alani, 60, entered the plea in federal court in Miami to a single count, the US Attorney for the Southern District of Florida said in a statement. Alani told investigators ...

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• 25 December

  For Boeing’s new CEO, saving 737 Max is just first hurdle

  

  Bloomberg Boeing Co.’s incoming boss David Calhoun faces a daunting task when he takes over as chief executive officer next year: rescuing the 737 Max while mending the company’s fractured relationship with US regulators. But that’s just the first of the hurdles awaiting him. Calhoun, who takes the reins January 13, will be leading a once-proud company whose reputation for ...

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• 24 December

  Sheikh Mohammed okays UAE strategy of advanced industries

  

  Abu Dhabi / WAM The UAE cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the UAE strategy of advanced industries, mainly those that are in line with fourth industrial revolution and its applications, with the aim of promoting industrialisation and fourth industrial revolutions applications ...

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• 24 December

  Saudis, Kuwait to resume oil output at shared fields

  

  Bloomberg Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output. Their agreement allows for “the resumption of oil production from the joint fields,” the Saudi energy ministry said on Twitter. The oil fields in the so-called neutral zone can produce as much as 500,000 barrels a day — ...

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