August, 2019

• 3 August

  BMW profit drops 20% on its EV rollout

  Bloomberg BMW AG’s profit fell 20 percent in the second quarter as the company accelerates a rollout of electric vehicles. In Chief Executive Officer Harald Krueger’s final quarter, earnings before interest and taxes declined to 2.2 billion euros ($2.4 billion) from 2.74 billion euros a year earlier. Analysts had expected 2.19 billion euros. After a loss in the first quarter, ...

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• 3 August

  Ford acquires defense contractor to get robot rides on road

  

  Bloomberg As Ford Motor Co bears down on a self-imposed deadline to field robotaxis and driverless delivery vehicles in two years, the automaker has acquired a small defense contractor whose experience could help get auto-piloted cars on the road. Ford paid an undisclosed sum to acquire Quantum Signal AI, a 40-member team of roboticists operating out of a decommissioned 1930s-era ...

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• 3 August

  British Airways, pilots union to continue talks to avert strike

  

  Bloomberg British Airways (BA) will continue talks with pilot representatives next week in a bid to defuse a pay dispute and avoid a walkout by its most crucial employees at the height of the summer travel season. The British Airlines Pilots Association (Balpa) agreed to extend negotiations with former the former UK flag carrier, now a unit of IAG SA, ...

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• 3 August

  Boeing is redesigning 737 Max flight controls to make it more reliable

  

  Bloomberg Boeing Co is redesigning the flight-control system of the grounded 737 Max to rely on data from both of the jetliner’s flight-control computers instead of just one, said a person familiar with the plans. The US planemaker is still aiming to present a final software package to regulators by September, though the timeline could slip, said the person, who ...

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• 3 August

  Yum sales climb as Taco bell leads charge

  Bloomberg Yum! Brands Inc’s latest quarterly sales climbed more than expected, propelled by strength at Taco Bell and KFC, its strongest divisions. Even laggard Pizza Hut showed some new signs of life. Comparable sales at Yum rose 5 percent last quarter, up from 1 percent in the year-ago period. That topped the 3.1 percent average estimate from Consensus Metrix. Taco ...

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• 3 August

  New York’s Bunge soars on its investment in Beyond Meat

  

  Bloomberg Bunge Ltd earnings surged in the second quarter as an investment in Beyond Meat Inc helped cushion the 201-year-old firm from a tough environment for agribusiness. Shares rose. Nearly half of Bunge’s better-than-expected earnings came from its investment arm’s stake in the faux-meat company. Beyond Meat has soared 680 percent since its May initial public offering as part of ...

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• 3 August

  Canada’s e-commerce juggernaut surges to record

  

  Bloomberg Shopify shares notched another record after the Canadian e-commerce company reported second-quarter sales that beat analysts’ average estimate and gave a more optimistic full-year outlook. Revenue grew 48 percent to $362 million, according to a company statement. Analysts were projecting $350.5 million. Shopify raised its 2019 revenue guidance to a range of $1.51 billion to $1.53 billion but kept ...

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July, 2019

• 31 July

  6th UAE-Iran joint maritime meeting results satisfying

  ABU DHABI / WAM A UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) official expressed his satisfaction foll- owing the 6th joint meeting between the UAE and Iran on maritime affairs. The meeting was held between the UAE and Iranian officials in Tehran. Salem Mohammed Al Zaabi, MoFAIC’s Director of the International Security Cooperation Department, said that the meeting ...

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• 31 July

  Adnoc closes major refining, trading deals with Eni, OMV

  

  ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced that it has closed its landmark strategic equity partnerships with the Italian oil and gas company Eni and the Austrian oil and gas company OMV, covering both the existing Adnoc Refining business and a new trading joint venture. The agreement, which was announced in January of ...

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• 31 July

  Emaar Malls revenues rise 6% to AED2.2 billion in H1

  

  Dubai / Emirates Business Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, recorded an increase in net profit by 3 percent during the first six months (January to June) of 2019 to AED1.130 billion ($308 million), compared to the net profit of AED1.102 billion ($300 million) during the same period in 2018. Revenue for H1 2019 ...

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