September, 2018

• 19 September

  Tesco undercuts Lidl, Aldi

  

  Bloomberg Tesco Plc is fighting back against German discounters Lidl and Aldi with a new line of stores that are wooing budget-conscious shoppers with a patriotic pitch. Tesco unveiled its first Jack’s store — named after the UK supermarket chain’s founder, Jack Cohen — in a small town 80 miles north of London. Private-label products, featuring a red Jack’s logo ...

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• 19 September

  Airbus needs a year to catch up on A320neo output

  

  Bloomberg Airbus SE needs at least another year to get production of its A320neo back on track and stabilise deliveries following manufacturing and design snags at its engine suppliers, according to a senior executive. The plane maker was forced to adjust the timing of its A320neo handovers at the start of 2018 after a fault was uncovered with Pratt & ...

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• 19 September

  American mulls ending ticket changes if Congress limits fees

  

  Bloomberg American Airlines Group Inc. would consider barring passengers from changing nonrefundable tickets if Congress limits what carriers can charge for the adjustments, Chief Executive Officer Doug Parker said. “That non-refundable ticket is of value to us,” Parker told reporters after speaking to a business group in Irving, Texas. “We knew that seat was going to be filled. It allowed ...

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• 19 September

  Chanel picks London over NY, Paris as ‘base’

  

  Bloomberg Chanel No. 5 and the little black dress are about to come with a British twist. In a show of confidence for post-Brexit UK, French fashion icon Chanel Ltd. is transferring its global corporate functions from New York to a new home in London. Rather than expanding its Paris roots, the company will base its international team in London, ...

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• 19 September

  Iceland’s Wow Air plans ‘rare’ IPO

  Bloomberg While Europe’s second-tier airlines collapse or wrestle with stretched finances, Wow Air plans to sell shares to the public. The Iceland-based low-cost carrier hired Arion Bank and Arctica Finance to prepare for an initial public offering in 12 to 18 months, it said, when it also published details about a bond issue. The 60 million euros ($70 million) bond, ...

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• 18 September

  UAE snags top position in ICT global competitiveness index

  

  DUBAI / WAM The United Arab Emirates has achieved a new accomplishment in ICT global competitiveness by achieving advanced ranks in the Global Competitiveness Index, according to the results published recently by the International Telecommunication Union (ITU). The results showed that the UAE is ranked first globally in the rate of mobile-broadband subscriptions, in addition to ranking first in the ...

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• 18 September

  China strikes back at US with $60bn of new tariffs

  

  Bloomberg China announced it will take retaliatory tariff action against $60 billion of US goods, sharply escalating their trade conflict as the Trump administration considers imposing duties on almost all Chinese imports. China’s retaliatory tariffs, on items ranging from meat to wheat and textiles, will take effect on September 24, China’s Ministry of Finance said in a statement posted on ...

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• 18 September

  EU offers proposals to strengthen WTO rules

  

  Bloomberg The European Union (EU) outlined ways to bolster the World Trade Organization (WTO) in a bid to keep US President Donald Trump committed to the global commercial order that America helped shape after World War II. EU Trade Commissioner Cecilia Malmstrom presented a ‘concept paper’ aimed at strengthening WTO rules against trade-distorting subsidies, averting a deadlock in the dispute-settlement ...

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• 18 September

  Malaysia eyes Dubai to explore region’s markets

  DUBAI / WAM The Malaysian Franchise Association has chosen Dubai and the 3rd edition of “The Global Franchise Market Exhibition” (TGFM) to explore the emerging and lucrative markets in the Middle East and North Africa region, connect with local, regional and international franchisors and brand owners and expand their businesses within the region. TGFM, the official franchising event in Dubai, ...

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• 18 September

  Minister, judges take oath before VP, Mohamed

  

  Abu Dhabi / WAM A new minister of the UAE government and two judges took the oath on Tuesday before His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. ...

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