June, 2019

• 23 June

  Metro says Kretinsky, Tkac $6.6b bid undervalues firm

  

  Bloomberg The 5.8 billion-euro ($6.6 billion) offer of Czech billionaire Daniel Kretinsky and his Slovak investment partner Patrik Tkac for Metro AG “substantially undervalues” the German food distributor, the management board said. The unsolicited bid of 16 euros for each ordinary share and 13.80 euros per preference share also doesn’t reflect its value creation plan, the Dusseldorf-based company said in ...

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• 23 June

  JetBlue to expand its European reach with A321XLR order

  

  Bloomberg Just two months after unveiling plans to begin US service to the UK, JetBlue Airways Corp moved to fly farther still, ordering 13 Airbus SE A321XLRs, the new, longest-range version of the popular narrow-body jet. The order builds on JetBlue’s April decision to enter the hyper-competitive trans-Atlantic market in 2021, with flights from Boston and New York to London. ...

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• 23 June

  Mexico airline offers Central America migrants ‘$1 trips’

  

  Bloomberg Mexican airline Volaris has launched a programme called “Reuniting Families” that is offering to fly Central American immigrants in Mexico back to their countries of origin. For $1, plus applicable taxes, Volaris will fly immigrants in Tijuana, Ciudad Juarez, Guadalajara and Mexico City to Costa Rica, El Salvador or Guatemala. Immigrants need only show some form of ID and ...

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• 23 June

  Korean fashion brand mulls sale of China unit

  Bloomberg TBH Global Co, the South Korean clothing retailer whose brands include Basic House, is considering a sale of its Chinese business that could raise about $200 million, according to people familiar with the matter. TBH Global shares jumped the most in more than 13 years. The company has held talks with potential advisers about the sale, said the people, ...

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• 23 June

  Walmart to integrate Jet staff as its president exits

  

  Bloomberg Walmart Inc will fully integrate all Jet.com employees into the larger company and shrink the unit’s management team nearly three years after buying the e-commerce site. The changes, outlined in a memo from Jet co-founder Marc Lore, include the departure of Jet president Simon Belsham, who will seek another opportunity inside or outside the company after a transition period ...

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• 23 June

  United suspends route after Iran downs US drone

  Bloomberg United Airlines has suspended its service between Newark and Mumbai, a route that regularly flies through Iranian airspace, after Iran shot down a US military drone and as tensions between the two countries continue to escalate. “Given current events in Iran, United has conducted a thorough safety and security review of our India service through Iranian airspace and decided ...

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• 22 June

  Mohammed approves AED2b Dubai-Al Ain road upgrade

  

  DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the improvement of Dubai-Al Ain Road at a cost of AED2 billion. The upgrade project will enhance the road’s link with several highways, such as Sheikh Mohammed bin Zayed Road, Sheikh Zayed bin Hamdan Al ...

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• 22 June

  UAE regulator asks airlines to reassess flight paths

  

  DUBAI / WAM The General Civil Aviation Authority (GCAA) called on registered air operators within the UAE to evaluate flight paths affected by recent airspace restrictions in the region. In a statement, the GCAA said that given current regional developments and as a precautionary measure, UAE-registered air operators need to avoid operating in areas that could jeopardise civil aviation safety ...

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• 22 June

  China would fight trade war to the end, says state media

  Bloomberg China has the strength and patience to withstand the trade war, and will fight to the end if the US administration persists with it, China’s state-run People’s Daily said in an editorial on Saturday. The US must drop all tariffs imposed on China if it wants to negotiate on trade, and only an equal dia- logue can resolve the ...

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• 22 June

  Bitcoin hits 15-month high, breaches $10,000

  

  Bloomberg Bitcoin breached $10,000 for the first time in about 15 months, recouping more than half of the parabolic increase that introduced mainstream investors to the digital asset before the bursting of the cryptocurrency bubble. “The bounce back of Bitcoin has been fairly extraordinary,” said Geo-rge McDonaugh, chief executive and co-founder of London-based block-chain and cryptocurrency investment firm KR1 Plc. ...

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