November, 2019

• 2 November

  US dithered too long on Nord Stream 2

  Nord Stream 2, the controversial Russian natural-gas pipeline project, has received the last permission it needs to close the distance between the Leningrad Region and the Baltic coast of Germany. It’s now probably too late for the US to prevent Russia from finishing the project by the end of this year. Nord Stream 2 is part of Russian President Vladimir ...

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• 2 November

  India hangs up on future

  

  India’s growth this century has been fuelled by one sector above all: telecommunications. The connectivity revolution has powered India’s information technology behemoths and helped hundreds of millions of young Indians get onto the grid, giving them a chance to improve their prospects. If India is to become the sort of entrepreneurial superstar that its government hopes it will, then the ...

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• 2 November

  Tesla is biggest battle on smallest battlefield

  

  Tesla Inc.’s earnings can be viewed as the market’s most intense conflict fought on its smallest battlefield. The third quarter just gone is a prime example. The much-loved and much-shorted stock jumped 28% between last week’s earnings release and October 29 filing of the quarterly 10-Q statement. The $13 billion that added to the market cap was effectively balanced on ...

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• 2 November

  Indonesia does its best to scare off investment

  

  If the definition of insanity is doing the same thing over and over and expecting a different result, what is Indonesia playing at? The country announced an immediate halt to exports of nickel ore, sending prices gyrating as traders tried to gauge the impact of a measure that was originally slated for 2022. We’ve been here before: From 2014 to ...

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• 2 November

  Pooling state aviation assets will unlock funds: Kenya Air

  

  Bloomberg Kenya Airways Plc said the proposed nationalisation and its inclusion in a state-owned aviation holding company will enhance its ability to borrow funds for expansion. The new entity will comprise Kenya Airways, Nairobi’s Jomo Kenyatta International Airport and the Kenya Airports Authority, Chairman Michael Joseph said in an interview. The combination of the businesses is expected to create a ...

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• 2 November

  Bombardier sells its Belfast factory to Spirit in $500m deal

  

  Bloomberg Bombardier Inc agreed to sell a wing factory in Northern Ireland and two other facilities to Spirit AeroSystems Holdings for $500 million and the assumption of certain liabilities. The Belfast operation makes wings for Airbus SE’s A220 jetliner, an aircraft that cash-strapped Bombardier developed before handing control last year to the European planemaker. The deal also covers a plant ...

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• 2 November

  Tiffany likely to play hard to get as LVMH awaits answer

  

  Bloomberg Your move, Tiffany & Co. That was the message from LVMH, as executives from the French luxury group arrived in New York to sell the merits of its proposed $14.5 billion takeover of the storied American jeweller. After eyeing Tiffany for years, LVMH submitted an offer last month as it enjoys record cash flow and revenue while the blue ...

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• 2 November

  Qantas grounds 3 Boeing 737s as wing cracks found

  

  Bloomberg Qantas Airways Ltd grounded three Boeing Co 737s after discovering cracks near their wings during industry-wide inspections of high-mileage models of the workhorse jets. The Australian airline found hairline cracks on a structure known as the pickle fork, which connects the wings to the fuselage. The planes will be back in service by the end of the year, Qantas ...

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• 2 November

  Lufthansa cabin crew vote for further strikes

  Bloomberg Deutsche Lufthansa AG faces strike action after a cabin crew union voted to escalate its conflict with Europe’s biggest airline group. The UFO union said in a statement that members voted for strike action at the group’s airlines including Lufthansa and Lufthansa CityLine after pay talks with company bosses broke down. The union will now decide when the strikes ...

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• 2 November

  Forever 21 plans to close 60 fewer stores after rent cuts

  

  Bloomberg Forever 21 Inc will keep open more than 60 US stores previously set to shutter as part of the company’s bankruptcy restructuring after the retailer secured rent concessions from its biggest landlords, according to people with knowledge of the situation. It’s an early win for the fast-fashion company after it filed for Chapter 11 protection in September as talks ...

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