October, 2018

• 3 October

  Delta sees $30mn hit on Hurricane Florence flight cancellations

  

  Bloomberg Delta Air Lines Inc. is taking a $30 million blow from Hurricane Florence. The hit to pretax earnings amounted to a 0.5 percentage point drag on total revenue for each seat flown a mile last quarter, the Atlanta-based airline said in a statement. The closely followed financial gauge probably climbed about 4 percent to 4.5 percent last quarter, the ...

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• 3 October

  Hopper valued at $750 million, showing airfare prediction pays

  

  Bloomberg Trying to predict the price of plane tickets has become something of a parlour game for companies looking to stand out in the online travel business. Microsoft Corp gave it a shot with Bing Travel before abandoning the feature several years ago. Kayak offers its own buying advice tool, with a warning that draws comparisons to the reliability of ...

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• 3 October

  EasyJet, Virgin partner for transatlantic connections

  Bloomberg EasyJet Plc has partnered with Virgin Atlantic Airways Ltd. for connections at its London Gatwick base, giving passengers on mainland Europe easy access to routes across the Atlantic. Connecting with Virgin flights will open up destinations including Las Vegas, Orlando, Antigua and St. Lucia, the carriers said in a joint statement. Similar agreements are already in place with the ...

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• 3 October

  Amazon wage hike aims to secure holiday help in job market

  

  Bloomberg Jeff Bezos scored a public-relations victory by giving his workers a raise, even drawing praise from Amazon.com Inc. scold Bernie Sanders. But at its root, the $15-an-hour minimum pay is an incentive for people to come work for Amazon — rather than Walmart or Target — as the retail industry gears up for the holiday shopping season amid historically ...

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• 3 October

  Smartphones to drive sales at Gitex: Retailer

  Dubai / Emirates Business­­­­­ Following the launch of new smartphones from leading brands, Jumbo Electronics, the leading omnichannel retailer in the region, is forecasting that smartphones will drive sales at this year’s edition of Gitex Shopper, scheduled to be held till October 6 at Dubai World Trade Centre (DWTC). During the five-day event, the new iPhone XS/XS Max, Samsung Note ...

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• 3 October

  JC Penney names retail veteran Jill Soltau as CEO

  

  Bloomberg JC Penney Co named Jill Soltau as its first female chief executive officer, bringing her 30 years of retail experience to the embattled department-store chain. Soltau, who has served as CEO of Joann Stores since 2015, will step into the role on October 15, JC Penney said in a statement. Shares of the retailer surged as much as 12 ...

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• 2 October

  Oil nears 4-year high as supply fears mount

  

  Bloomberg Oil traded near the highest level in almost four years as investors grapple with doubts over OPEC’s ability to replace falling exports from Iran. Futures rose 0.2 percent in New York after closing at the highest since November 2014. Iranian crude and condensate exports declined to their lowest in 2 1/2 years before the impending return of US sanctions. ...

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• 2 October

  Emirates NBD launches Friday banking services

  

  DUBAI / WAM Emirates NBD announced the introduction of Friday banking at three of its mall branches — Dubai Mall, Mall of the Emirates, and Mirdif City Centre. Customers now have the flexibility to conduct banking at their own convenience, with these bra-nches now open on Friday between 3 and 9pm. The new Friday hours will enable customers to open ...

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• 2 October

  First-of-its-kind emergency credit exchange launched

  

  Dubai / Emirates Business An emergency cash funding platform has been launched by two Dubai-based finance entrepreneurs aimed at helping UAE consumers to avoid entering a debilitating debt spiral by facilitating access to short term cash. A new Online Service called BuyBackBazaar enables access to instant cash to customers who sell their possessions such as a phone or laptop and ...

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• 2 October

  DP World launches ‘Belt and Road’ Dubai Station

  

  Dubai / Emirates Business­­­­­ In another major step towards positioning the UAE and Dubai as a hub for east-west trade global trade enabler DP World has announced plans to build ‘The Belt and Road’ Dubai Station in partnership with Zhejiang Provincial Seaport Investment & Operation Group Co., Ltd (ZPG). The Belt and Road Station will integrate logistics, warehousing, e-commerce, circulation ...

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