October, 2019

• 21 October

  Avoid buying palm oil from Malaysia, says Indian group

  Bloomberg The trade spat between India, the world’s biggest palm buyer, and Malaysia seems to be escalating, with an influential processors’ group in Mumbai asking its members to refrain from buying the tropical oil from the second-largest producer. Malaysian PM Mahathir Mohamad last month told the United Nations that India “invaded and occupied” Kashmir. Since then, many Indian buyers of palm ...

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• 21 October

  Collapse in coal prices spurring distress for Indonesian miners

  

  Bloomberg The global collapse in coal prices this year has dealt a particularly heavy blow to miners in Indonesia, the top exporter and one of the largest producers of the fuel. Bonds from the country’s financially weak miners have suffered more than peers elsewhere in Asia due to a lack of diversification and state backing that many competitors enjoy. Prices ...

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• 21 October

  Coffee may get cheaper with flood of robusta

  

  Bloomberg The world has more than enough coffee, and Indonesia is looking to add to the glut. The coffee industry in the No. 3 producer of robusta is on a mission to boost output at a time when production is soaring and prices are tumbling. Farmers are expected to reap 50%-60% more beans within the next five years, said Pranoto ...

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• 21 October

  Hong Kong sees best weekend for home sales since April

  Bloomberg Hong Kong Chief Executive Carrie Lam’s plan to relax mortgage rules for first-time buyers appears to have already spurred sentiment, with the city recording its best weekend for home sales since April. The 10 biggest housing estates tracked by Centaline Property Agency Ltd recorded 20 sales, more than three times the weekend before. That’s despite violent protests that have ...

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• 21 October

  FAA was told ‘multiple times’ of changes to 737, says Boeing

  

  Bloomberg Boeing Co said it told US regulators “multiple times” that it had expanded the role of flight-control software later linked to two fatal crashes, and that Federal Aviation Administration (FAA) personnel observed the system operating in flight tests before the 737 Max was certified for service. The statement provided a broader explanation to the bombshell revelation that a former ...

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• 21 October

  Coca-Cola rises as bets on new products pay off

  

  Bloomberg Coca-Cola Co’s international sales and low-sugar offerings like Coca-Cola Zero Sugar drove brisk revenue growth in the third quarter. Shares rose the most intraday since July. The beverage giant said unit case volume grew by 2%, while net revenue expanded 8% to $9.5 billion. The key metric of organic revenue, which strips out some items like currency effects, jumped ...

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• 21 October

  Private-jet deliveries surge just as global economy cools off

  

  Bloomberg It’s all about that new plane smell. Private jets that can fly faster and go longer distances are causing a surge in new corporate-jet deliveries from General Dynamic Corp’s Gulfstream unit, Bombardier Inc and Textron Inc’s Cessna. Innovations that have spurred sales include better fuel-efficiency, roomier, quieter cabins and gadget-packed cockpits that can predict the weather and smooth out ...

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• 21 October

  Japan’s Uniqlo suspends TV commercial in South Korea

  Bloomberg Japan’s largest clothing maker Fast Retailing Co suspended a TV commercial in South Korea which angered consumers, the Kookmin Ilbo newspaper reported. An ad in English promoting Uniqlo’s fall/winter collection had Korean subtitles that some believed made reference to a period of war-time slaves. The commercial was withdrawn from Uniqlo’s Youtube account and TV networks, the paper said, citing ...

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• 21 October

  Drone deliveries now a reality in Virginia town

  Bloomberg Routine drone deliveries of medication, snacks and other small items from a drugstore began in a small Virginia town. Alphabet Inc offshoot Wing, which just received an expanded certification to act as a small air carrier, is starting the nation’s inaugural delivery service via a small civilian aircraft with partners Walgreens Boots Alliance Inc and FedEx Corp. “This is ...

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• 21 October

  Marks & Spencer is starting to look more like Whole Foods

  

  Bloomberg For a taste of CEO Steve Rowe’s ambitions to transform Marks & Spencer Group Plc, look no further than its newly refurbished shop in London’s Clapham neighbourhood. The store looks more like a Whole Foods Market than one of the 135-year-old British retailer’s more traditional outlets. Alongside piles of avocados and herbs grown with the help of artificial intelligence ...

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