TimeLine Layout

December, 2019

  • 16 December

    FirstGroup to sell school bus, transit units in US

    Bloomberg FirstGroup Plc, under pressure from activist investors, is exploring options including a possible disposal of its North American school bus and transit divisions, extending a breakup strategy that already encompasses a planned sale of the iconic Greyhound brand. The Aberdeen, Scotland-based group has appointed Rothschild to help advise on the sale of its First Bus and First Transit divisions, ...

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  • 16 December

    BMW-Daimler ride-hailing venture steps up Uber challenge

    Bloomberg FreeNow, the ride-hailing venture owned by Daimler AG and BMW AG, expects to double revenue this year and next in a fresh challenge to Uber Inc in Europe and Latin America. FreeNow’s so-called gross merchandise volume, which mirrors revenue, is forecast to reach about 2.4 billion euros ($2.7 billion) in 2019, Chief Executive Officer Marc Berg said in an ...

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  • 16 December

    Wage stagnation in the US – myth and reality

    One of the perplexing economic questions these days is why wage growth has been so slow despite the longest economic expansion in US history (now in its 11th year). By conventional wisdom, tight labour markets should be raising wages much faster than is occurring. The logic is simple. With low unemployment, workers can quit their jobs and find something better. ...

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  • 16 December

    Lagarde opens a new era at the ECB

    Christine Lagarde started her first press conference as president of the European Central Bank (ECB) by warning that she was different from her predecessor, Mario Draghi. It took reporters just a few minutes to realize that she was indeed. Lagarde is ushering in an era of democratic central banking at the ECB, or so she wants you to believe. But ...

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  • 16 December

    Texas power market reaps wind and solar benefits

    The Texas power market is a gamble. Generators seeking the occasional windfall from price spikes weigh the odds on temperature, wind-speed, the economy and, crucially, how much capacity their rivals are starting up or shutting down. Regarding the latter, they get some guidance from the state grid operator every six months in the form of projections of how much power ...

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  • 16 December

    Manufacturer stocks may not get lift from trade deal

    Markets are cheering trade progress between the US and China. It’s important to note that a trade deal isn’t a cure-all — especially for manufacturers. President Donald Trump reportedly signed off on an initial trade deal with China that will delay proposed tariffs on some $160 billion of largely consumer goods set to take effect on December 15. The deal ...

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  • 16 December

    India is abandoning its founding principles

    For 70 years, India has struggled to remain a secular state. In spite of its people being overwhelmingly Hindu, it chose not to distinguish between its citizens — or putative citizens — on the basis of their religion. That principle was what its founding fathers fought for, and what for decades led it to proudly distinguish itself from Pakistan, born ...

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  • 16 December

    United’s frequent-flier programme finally gets some game theory

    The big news of United Airlines was that the company’s longtime chief executive officer, Oscar Munoz, will step down in May. But many of the company’s most loyal customers were focused on a different transition: On December 4, United made the most substantial changes to its frequent-flier upgrade program in years. Flight upgrades are mostly a problem of the 1% ...

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  • 16 December

    Brussels prepares for its next Brexit punch-up

    After a year of gridlock in Westminster that has frustrated the UK’s attempts to leave the European Union (EU) on amicable terms, British voters have handed Boris Johnson a thumping majority to do just that. They might also be handing Brussels a tough new competitor on Europe’s doorstep. This is sobering for the EU, which is on course to lose ...

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  • 16 December

    $300,000 pilot jobs drying up in China after Boeing grounding

    Bloomberg Expatriate pilots flying Boeing Co.’s most popular plane for Chinese airlines used to be able to take their pick from dozens of jobs paying $300,000 plus perks thanks to a shortage of experienced aviators there. The grounding of the 737 Max has changed that. Chinese carriers have largely stopped hiring foreign pilots for Boeing’s main narrow-bodied jet, nine months ...

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