April, 2019

• 2 April

  Former Banque Pictet employee faces probe

  

  Bloomberg Geneva prosecutors are investigating a former back-office employee of Banque Pictet over allegations the person stole millions of dollars from Switzerland’s biggest privately-owned bank. An investigation was opened on March 19 into suspicions of fraud and breach of trust, according to a spokeswoman for the Geneva prosecutor’s office. She declined to give further details and the person’s name has ...

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• 2 April

  Crypto lenders push no-tax perk of leveraging Bitcoin

  

  Bloomberg Former Wall Street trader Edgar Fernandez used some of his Bitcoin as collateral to borrow nearly $100,000, a move that let him keep his cryptocurrency and avert a tax bill on the newly acquired cash. The tax perk stems from a longstanding principle that assets aren’t taxed until sold, much like borrowing against stock holdings. Yet digital currency carries ...

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• 2 April

  Rolls blade troubles deepen with latest 787 grounding

  

  Bloomberg Rolls-Royce Holdings Plc said it will accelerate a program to install redesigned blades on some of its Trent 1000 engines, after early wear forced Singapore Airlines Ltd to grounded two 787 aircraft using the turbines. The latest setback for the Trent 1000 TEN, used on Boeing Co 787 Dreamliner jets, came after the UK engine maker sampled a small ...

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• 2 April

  Boeing needs more time to finish 737 Max software fix

  

  Bloomberg Boeing Co says it needs more time to finish a software upgrade for its grounded 737 Max jetliners as company engineers update a stall-prevention system linked to two fatal crashes in five months. The planemaker said it would submit final paperwork for the revamp to the Federal Aviation Administration by March 29 to make the system — known as ...

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• 2 April

  Philip Day, Mike Ashley battle for title of British retail king

  

  Bloomberg Retail tycoon Philip Day is bidding for Bonmarche Holdings Plc after buying a majority stake in the UK clothing chain, as he vies with billionaire Mike Ashley to dominate the nation’s struggling high street. Day is required to make a mandatory cash offer for Bonmarche at about 11.44 pence a share after acquiring 52 percent of voting rights in ...

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• 2 April

  Ryanair enters top-10 polluter list in Europe

  

  Bloomberg Ryanair Holdings Plc was one of the 10 biggest polluters in Europe last year, a first for a company that doesn’t run coal-fired power plants. That’s the conclusion of analysis of European Union carbon emissions data undertaken by Transport & Environment, a Brussels-based research group. The group found Ryanair’s carbon dioxide emissions rose 6.9 percent last year. The findings ...

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• 2 April

  Walmart unveils voice-activated grocery shopping

  

  Bloomberg Walmart Inc will let customers order groceries by voice through Google’s smart-home assistant, an attempt to counter Amazon.com Inc’s growing clout in e-commerce. Beginning this month, Walmart shoppers can add items directly to their online shopping carts by saying “Hey Google, talk to Walmart.” Information from prior purchases will help identify the correct brand and size — like whether ...

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• 1 April

  Celebrating Earth Hour reduces energy consumption: Al Mazrouei

  

  ABU DHABI / WAM Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, highlighted the UAE’s commitment to adopt the best international standards and sustainable practices, to rationalise energy consumption and reduce carbon emissions, in line with the National Energy Strategy 2050. He added that Earth Hour, which took place this year under the slogan, “Communicate with ...

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• 1 April

  Sustainable investments reach $30.7trn globally

  

  Bloomberg Global socially responsible investments grew by 34 percent to $30.7 trillion over the past two years, lifted by Japanese pension funds, retail investors everywhere and broad, growing concern about climate change. Europe remains the biggest region for sustainable investors with about $14 trillion devoted to these strategies, up 11 percent from 2016, according to the biennial report from the ...

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• 1 April

  NPCC revenues surge 7% to hit AED5.3bn

  

  ABU DHABI / WAM The National Petroleum Construction Company (NPCC), a subsidiary of Senaat Abu Dhabi, announced that its revenue increased by 7%, from AED4.9 billion to AED5.3 billion. Speaking on the occasion, Dr Mohamed Rashed Al Hameli, NPCC Chairman, said, “NPCC’s excellent project management has led to 27% increase in operating profit, from AED700 million to AED891 million. These ...

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