July, 2019

• 28 July

  Nissan is ignoring the rot at home

  

  If you’re looking for a metaphor for how politics has swamped decision-making at Nissan Motor Co., look no further than reported plans to restructure its cratering global business. Nissan doubled its planned job losses to 12,500 and unveiled new production cuts after reporting a 99 percent plunge in fiscal first-quarter operating profit. The Japanese carmaker is considering reducing production in ...

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• 28 July

  Tesla breaks records but does not break even

  

  Tesla Inc.’s earnings calls have lately taken on the trappings of office going-away parties. Just before the Q&A portion of the second-quarter call, CEO Elon Musk announced that JB Straubel, the company’s veteran chief technology officer, would step down to become a senior advisor. This was at least said up front, as opposed to the by-the-way announcement of the CFO’s ...

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• 28 July

  Southwest CEO vexed at 737 Max delays

  

  Bloomberg Southwest Airlines Co is frustrated with the financial beating it’s taking from the grounding of Boeing Co’s 737 Max. But the carrier is ready to grab more of the single-aisle planes that eventually will make up the majority of its fleet. Parking its 34 Max jets since mid-March and missing out on new deliveries has shaved $225 million from ...

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• 28 July

  Tan’s Philippine Air to name new president amid revamp

  

  Bloomberg Philippine Airlines Inc is expected to name a new president on Monday, replacing Jaime Bautista, who abruptly quit the post last month. Gilbert Santa Maria, who was chief operating officer of IBEX Global Solutions Plc, tops the list of nominees, according to two people familiar with the matter, who declined to be identified because the decision has yet to ...

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• 28 July

  Dutch delivery company in talks to buy Just Eat

  

  Bloomberg Just Eat Plc said it’s in talks to be acquired by Dutch delivery company Takeaway.com NV. The UK firm confirmed a Sky News report on the discussions and added that there’s no certainty whether an offer will be made and on what terms, according to an emailed statement. Takeaway.com could make an offer for Just Eat and will have ...

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• 28 July

  Billionaire owners’ public spat weighs on IndiGo’s future

  

  Bloomberg A fight between two billionaire co-founders is threatening to hurt one of the world’s most successful airlines. Rakesh Gangwal, 65, is accusing partner Rahul Bhatia, 59, of corporate-governance transgressions at Indian budget airline IndiGo and wants his powers curbed. Bhatia denies the allegations, and there’s no sign yet that the disagreement is affecting financial performance of the airline, operated ...

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• 28 July

  Mexico settles dispute on airport terminal

  Bloomberg Mexico City’s airport authority settled a dispute with builders on an 85 billion peso ($4.45 billion) contract for the terminal at a new Mexico City airport that President Andres Manuel Lopez Obrador canceled a month before taking office. Grupo Aeroportuario Ciudad de la Mexico will pay 14.2 billion pesos, equivalent to 16.7 percent of the contract’s total cost, to ...

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• 27 July

  UAE grants $50m for Palestinians

  

  ABU DHABI / WAM The UAE on Saturday announced a $50 million donation to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), as part of its commitment to supporting the Palestinian people. With this donation, UNRWA will provide health services to Palestinian refugees —mothers and children — implement educational programmes to ensure the ...

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• 27 July

  Trump presses WTO to drop China’s ‘developing nation’ tag

  

  Bloomberg US President Donald Trump opened another chapter in the trade war with China, ordering his top trade negotiator to pressure the World Trade Organization (WTO) to crack down on countries the US doesn’t think should be allowed to declare themselves developing nations. Trump singled out China in a memo to US Trade Representative Robert Ligh- thizer, saying that “the ...

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• 27 July

  Oil rises as supply risks outweigh demand woes

  

  Bloomberg Oil finished higher for the week after a volatile trading session that pitted gnawing doubts about global demand against supply threats from the Middle East and beyond. Futures gained 0.3 percent in New York and ended the week up 1 percent, reversing from last week’s steep loss. Oil turned higher after Mexico’s state-run oil company said crude output fell ...

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