October, 2019

• 20 October

  Brexit: Singapore-on-Thames isn’t going to happen

  

  British Conservatives, from the time of Margaret Thatcher, have long admired Singapore’s economic success. Low tax rates, minimal regulation and hyper-modern infrastructure are a magnet for foreign direct investment and keep government coffers overflowing. Could that be Britain after Brexit? The idea titillates Tories and terrifies European Union leaders. But such fears say more about the EU’s own vulnerabilities than ...

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• 20 October

  Boeing lawsuits over Lion Air crash may move to Indonesia

  

  Bloomberg A federal judge in Chicago signalled he may let dozens of lawsuits against Boeing Co over the crash of a Lion Air plane be resolved in Indonesia. US District Judge Thomas Durkin said during a status hearing that US Supreme Court and appellate court rulings appear to support the idea of a venue change. “The law is pretty favourable ...

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• 20 October

  Italy readies $390mn for bankrupt Alitalia

  

  Bloomberg The Italian government is readying 350 million euros ($390 million) in bridge financing for bankrupt airline Alitalia SpA, seeking to keep the carrier flying as it scrambles to find bidders for a last-ditch rescue. The financing, due to cover six months of operations, was finalised in a cabinet decree document seen by Bloomberg. The companies leading the bid to ...

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• 20 October

  Gulfstream signals unveiling new aircraft at mystery event

  Bloomberg Gulfstream is signalling that it will reveal a new aircraft design on October 21 at a private-jet conference in Las Vegas. “History is made by those who dare,” Gulfstream said in an invitation to the event. “Please join us for the biggest announcement in business aviation.” The corporate-jet unit of General Dynamics Corp is touting the event less than ...

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• 20 October

  Casper working with Morgan Stanley, Goldman Sachs on IPO

  

  Bloomberg Online mattress retailer Casper Sleep Inc is working with Morgan Stanley and Goldman Sachs Group Inc on a US initial public offering, according to people with knowledge of the matter. The New York-based company could go public as soon as this year or the first half of 2020, said the people, who asked not to be identified because the ...

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• 20 October

  Danone lowers outlook on weakness in US yogurt, water

  

  Bloomberg Danone, already struggling with falling yogurt sales as consumers shift to vegan alternatives, is getting hit by a decline in its bottled-water business. Shares of the owner of Evian water headed towards their biggest fall in more than a decade after it lowered its annual sales outlook. The cut deals a blow to Chief Executive Officer Emmanuel Faber’s turnaround ...

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• 20 October

  Spirit plans new $250m HQ in South Florida

  Bloomberg Spirit Airlines Inc will build a new South Florida headquarters that will cost $250 million over three years. The new office campus of as much as 500,000 square feet will consolidate more than 1,200 employees, Spirit said in a statement. The project is scheduled to open in 2022 in Dania Beach, Florida, just south of the carrier’s largest operational ...

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• 19 October

  Ewec, Acwa secure $869m for Abu Dhabi desalination plant

  

  ABU DHABI / WAM Emirates Water and Electricity Company (Ewec), a subsidiary of Abu Dhabi Power Corporation (ADPower), and Saudi Arabia’s Acwa Power have announced the successful financial closing of the world’s largest reverse osmosis desalination plant. The new plant will be located at the Taweelah power and water desalination complex in Abu Dhabi, with completion expected in 2022. ADPower ...

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• 19 October

  Oil short-sellers’ gloom deepens as demand dips

  

  Bloomberg Hedge funds are increasingly pessimistic on oil as US stockpiles surge and crude refining plunges. Bets on a West Texas Intermediate crude rout rose 7.6% in the week ended October 15 and almost tripled since mid-September. A report showing American crude storage rose for a fifth week while refiners cut processing rates to the lowest since 2017 only reinforced ...

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• 19 October

  Tanzania open to talks over $10bn port project

  

  Bloomberg Tanzania is open to discussions with investors on the $10 billion Bagamoyo Port project, but will prioritise the interests of the East African nation, the Daily News newspaper reported, citing Tanzania Ports Authority Director General Deusdedit Kakoko. Talks on the proposed port have stalled because investors’ conditions were likely to prevent Tanzania from reaping the maximum benefit from the ...

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