November, 2019

• 13 November

  Bushfires illuminate price of burning coal

  You could smell the approach of Sydney’s bushfires two weeks away. Leaving my home for work last month at a time when California’s fires were at their most intense, the sandalwood odour of burning eucalyptus was heavy on air. Looking north from Bloomberg’s office to far side of Sydney Harbour, the normally sparkling blue water was a barely discernible smudge. ...

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• 13 November

  Temple verdict is cue for Modi to pivot to economy

  

  Over the weekend, India’s Supreme Court pronounced on a title dispute in Ayodhya, a small town in India’s northern state of Uttar Pradesh. Like many other property cases in India, this one had been working its way through the judicial system for decades. But it may be the most consequential such dispute in Indian history. Millions of Hindus believe Ayodhya ...

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• 13 November

  Fund colossus Amundi leaves rivals in its dust

  

  European fund management companies spent 2018 watching their share prices steadily decline, battered by increased regulatory scrutiny, customers withdrawing money and the relentless squeezing of fees. They’ve rallied this year, but the industry’s biggest beast in the region is outpacing its peers by an astonishing margin. Investors in Amundi SA have enjoyed a total return of more than 60% in ...

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• 13 November

  One Tether trader didn’t cause bitcoin bubble

  

  It’s tough being a cryptocurrency exchange. All you want to do is provide a valuable liquidity service to an emerging industry, while navigating a fine line between regulatory compliance and crypto anarchy. But maybe you step a little too far into the shady side and find yourself in trouble. That could be the situation an exchange called Bitfinex finds itself ...

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• 13 November

  Boeing Max orders fall as Air Lease swaps 737 for 787 jets

  

  Bloomberg Sales for Boeing Co’s grounded 737 Max slipped in October after a prominent customer converted some of its orders for the narrow-body jet to twin-aisle 787 Dreamliners. Boeing’s unfilled 737 order backlog, adjusted for accounting considerations, shrank by 19 aircraft during the month to 4,387 jets, the Chicago-based planemaker revealed on its website. The planemaker garnered negative 93 orders ...

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• 13 November

  Ferragamo: HK protests slashed local retail sales

  

  Bloomberg Salvatore Ferragamo SpA’s sales in Hong Kong fell 45% during the third quarter as months of anti-Beijing protests held back spending by tourists and locals alike. The decline at the Italian maker of leather pumps and silk scarves exceeded the impact estimated by some rival luxury companies. LVMH, the owner of Louis Vuitton and Givenchy, previously said sales in ...

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• 13 November

  Magazine Luiza share offering to raise $1.13b

  Bloomberg Magazine Luiza SA, the Brazilian retailer that is fast becoming one of the country’s leading e-commerce providers, sold shares at 43 reais each, according to people with direct knowledge of the matter. The company’s offering raised a total of 4.7 billion reais ($1.13 billion), including a primary sale of 100 million shares, according to one of the people, who ...

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• 13 November

  JetBlue fights discounters with no-frill option in fare overhaul

  

  Bloomberg JetBlue Airways Corp, bowing to rising competitive pressures, began offering a no-frills option in the first revamp of its fare categories since they were introduced in 2015. Customers buying a reduced Blue Basic fare won’t get a refund if they have to cancel, can’t make changes to the reservation and will have to board last — standards that match ...

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• 13 November

  Cathay issues second profit warning in less than one month

  

  Bloomberg Cathay Pacific Airways Ltd issued its second profit warning in less than a month as Hong Kong’s flag carrier continues to struggle from a slumping number of visitors because of the protests that have gripped the city for months. Second-half financial results will be “significantly” lower than in the first, Cathay said in a statement on Wednesday. The language ...

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• 13 November

  Takeaway CEO not willing to overpay in Just Eat bid

  Bloomberg Takeaway.com CEO Jitse Groen said it doesn’t make sense to overpay in its bid to gain control of UK rival Just Eat Plc. “I don’t want to be the idiot that runs into a ratio that doesn’t make any sense,” Groen said at the sidelines of the Morgan Stanley European Technology, Media & Telecom Conference in Barcelona. Takeaway published ...

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