September, 2019

• 22 September

  Europeans want the EU to act like a superpower

  

  Ursula von der Leyen, the European Commission president-elect, has promised to run a “geopolitical Commission” in the next five years. A recent study by the European Council on Foreign Relations, the international think tank, shows that this is what Europeans want, too — but von der Leyen’s vision of the European Union’s global role isn’t necessarily aligned with theirs. Von ...

  Read More »
• 22 September

  While the Federal Reserve has no ‘guts,’ PBOC is on steroids

  

  It’s debatable whether the Federal Reserve has sense, vision or “guts.” But one thing is certain: The US central bank has become a weakling. The People’s Bank of China (PBOC), on the other hand, is loaded with technocrats on steroids. The Fed’s prestige took a hit. Its most powerful regional reserve bank somehow botched a critical market rescue operation – ...

  Read More »
• 22 September

  Boomers are crushing millennials. Read all about it!

  

  As a case study in the workings of modern democracy, the handling of Social Security by successive presidents and Congress over recent decades is a deeply disturbing exercise. The facts are not in dispute. Congress and the White House have agreed to benefits for retirees and the disabled that are woefully underfunded. Rather than bring the programs into balance — ...

  Read More »
• 22 September

  Walmart chief steps forward as archetype of ‘new-age CEO’

  

  Bloomberg Walmart Inc’s Doug McMillon just took over as the chief spokesman for Corporate America, and he’s not wasting any time taking action. The Walmart chief executive said the retailer will stop selling e-cigarettes in its more than 5,300 US locations, displaying a tendency towards action that the company has typically lacked. The announcement supports the emerging narrative that Walmart’s ...

  Read More »
• 22 September

  Rolls-Royce faces delays to fix Trent 1000 engine issues

  

  Bloomberg Rolls-Royce Plc will incur additional delays in fixing problems with its Trent 1000 aircraft engine, hampering efforts to get grounded Boeing Co 787 Dreamliners back in the air. The challenge of replacing engine components with less-than-expected durability will delay the return of normal service until the second quarter of next year, the company said in a statement. Rolls-Royce shares ...

  Read More »
• 22 September

  Avenatti-Nike extortion case not about Donald Trump feud

  

  Bloomberg US prosecutors ridiculed celebrity lawyer Michael Avenatti’s claim that he was charged with trying to extort millions of dollars from Nike Inc as payback for his feud with President Donald Trump, calling the allegation a “fantastic notion” based on hyperbole and insinuation. Avenatti asked a judge in August to throw out the case, claiming it was a vindictive prosecution ...

  Read More »
• 22 September

  Thomas Cook plunges as tour operator seeks bailout money

  

  Bloomberg Shares of Thomas Cook Group Plc tanked after the UK tourism operator said it needs more emergency financing. Thomas Cook said it will require another $251 million for a “seasonal standby facility,” sending the shares down as much as 28 percent. The company already increased the size of a bailout plan in August by 20 percent to 900 million ...

  Read More »
• 22 September

  Canadian retail sales gain misses forecasts

  Bloomberg Retails sales increased 0.4 percent in July, the first advance in three months, as consumers spent more on new cars, Statistics Canada said from Ottawa. The gain trailed economist expectations for a 0.6 percent increase. Excluding motor vehicles and gasoline, retail sales fell 0.1 percent on the month. The report falls short of economist expectations for a larger rebound ...

  Read More »
• 22 September

  Marks & Spencer CFO to step down amid retailer revamp

  

  Bloomberg Marks and Spencer Group Plc Chief Financial Officer Humphrey Singer plans to leave his post and the UK retailer is searching for his successor. Singer’s departure date hasn’t yet been decided and he’s working with Chief Executive Officer Steve Rowe to ensure a smooth transition, the company said in a statement. “After 18 months of working with Steve to ...

  Read More »
• 21 September

  UAE urges Qatar to end hate speech in its local media

  GENEVA / WAM The United Arab Emirates (UAE), urged Qatar to stop programmes that promote hate rhetoric and incitement of hatred in its local media, saying the trend threatens the security of countries in the region, including Qatar itself. While delivering the UAE statement before the fourty-second regular session of the Human Rights Council held in Geneva to discuss the ...

  Read More »