January, 2019

• 16 January

  Orcel’s rise to Santander CEO ruined by UBS pay dispute

  

  Bloomberg Banco Santander SA reversed course on installing Andrea Orcel as its next chief executive officer after a standoff over tens of millions of dollars in deferred pay. UBS Group AG held a hard line that Orcel, who led its investment bank until a few months ago, was defecting to a rival and wouldn’t receive bonuses he was owed from ...

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• 16 January

  Danske row: Deutsche Bank starts new probe

  

  Bloomberg Deutsche Bank AG Chief Executive Officer Christian Sewing launched a further internal investigation into the lender’s role as correspondent bank for scandal-ridden Danske Bank’s Estonian unit, even though he hasn’t seen any evidence of wrongdoing. The bank had previously probed its role in the case as well as any involvement in a tax evasion scheme “long before the cases ...

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• 16 January

  Bank Indonesia says key interest rate near peak

  Bloomberg Bank Indonesia Governor Perry Warjiyo signalled central bank may hold the key rate, saying the benchmark interest rate has “almost reached its peak” after an aggressive hiking cycle helped stabilise the nation’s currency. While the bank’s monetary policy stance remains “pre-emptive and ahead of the curve,” a more favorable outlook for US interest rate will allow Indonesia to rely ...

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• 16 January

  BOJ likely to cut inflation forecast on cheaper crude

  

  Bloomberg The Bank of Japan (BOJ) is almost certain to cut its inflation forecast for the fiscal year starting in April given the sharp fall in oil prices, according to people familiar with the matter. The government’s decision to make pre-school education free adds to the case for the downgrade, which will be delivered at the end of the next ...

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• 16 January

  Delta warns weaker pricing power amid US shutdown

  

  Bloomberg Delta Air Lines Inc. said its ability to raise ticket prices is weakening and warned that the US government shutdown is eroding sales. Less travel by federal employees and contractors is costing Delta about $25 million a month even as corporate and leisure travel remain strong, Chief Executive Officer Ed Bastian said. Revenue from each seat flown a mile, ...

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• 16 January

  Vietnam’s skies may have another airline

  

  Bloomberg Vietnam is on course to have its sixth domestic airline after tour operator Vietravel said it plans to start a carrier as potential rival Bamboo Airways began its first flights in one of the world’s fastest-growing aviation markets. Vietravel Airlines would be based in the central province of Thua Thien Hue and compete in a market already served by ...

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• 16 January

  Online holiday shopping soared, but in-store still unknown: Abode

  

  Bloomberg While the US government shutdown is keeping investors in the dark about broader retail trends over the holidays, Adobe Analytics confirmed that online sales posted rapid growth during the period. E-commerce sales jumped 16.5 percent from a year earlier to a total of $126 billion as consumers loaded up on products such as the Nintendo Switch, laptops, streaming devices, ...

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• 16 January

  Zuji loses licenses in Singapore, Hong Kong

  Bloomberg Zuji, an Asian online travel booking site, is no longer operational after failing to renew licenses in Hong Kong and Singapore and an air ticketing system terminated its services. Zuji’s business permits expired on January 9 and the firm hasn’t applied for fresh ones, Hong Kong’s Travel Agents Registry said in an email, while Singapore Tourism Board said that ...

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• 16 January

  FAA inspector recall may break logjam of jet, route approvals

  

  Bloomberg Aviation regulators plan to recall thousands of inspectors furloughed by the partial government shutdown so they can resume performing air-safety checks and routine activities including clearing planes for airlines to add to their fleets. The Department of Transportation issued a revised shutdown plan saying it will bring more than 3,100 aviation-safety specialists back onto the job as of January ...

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• 15 January

  Abu Dhabi working to achieve agricultural sustainability

  

  ABU DHABI / WAM Ambitious plans are currently underway to ensure agricultural sustainability and food security in Abu Dhabi, according to the emirate’s Food Control Authority Director. Saeed Al Bahari Salem Al Ameri, Director of the Abu Dhabi Food Control Authority (ADFCA), said that the authority is working on an ambitious plan to achieve agricultural sustainability, as well as to ...

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