September, 2018

• 18 September

  Samsonite to retailers: Prices to rise on Trump’s tariff hit

  

  Bloomberg The trade war arrived at Sun Y. Park’s doorstep the day a letter from Samsonite International SA was delivered to her Manhattan luggage and leather goods shop. In the letter dated August 13, Samsonite North America President Lynne Berard notified wholesale buyers that a 10 percent price increase is imminent if the US follows through with more tariffs on ...

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• 18 September

  Jet.com refurbishes site to narrow focus on urban shoppers

  

  Bloomberg Walmart has refurbished its Jet.com site to cater even more to the city dwellers who make up the bulk of its shoppers. The e-commerce site, acquired by Walmart in 2016, will now offer images and products tailored to the location and preferences of the visitor, the retailer said. Most New York City residents can schedule three-hour delivery windows for ...

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• 18 September

  Pandora soars after report that PE funds may buy it

  

  Bloomberg Pandora shares soared in Copenhagen on a report that private equity funds are considering buying the beleaguered Danish jewellery maker. The stock added as much as 11 percent, the most since May 2016, after Italian daily Il Sole 24 Ore said KKR and Bain Capital are among private-equity funds that could be studying a dossier on Pandora. Sole, which ...

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• 18 September

  A-listers out as Burberry designer makes his debut

  

  Bloomberg For his first collection at Burberry Group Plc, creative director Riccardo Tisci traded star-studded front rows for another sort of hype: the streetwear-inspired “drop.” Tisci opted for an austere presentation in his debut for the British luxury brand, a dramatic change for the former Givenchy designer, whose celebrity clients included Kim Kardashian and Madonna. No A-listers, no parties, just ...

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• 17 September

  Abu Dhabi to sell 25% of Spain’s Cepsa in decade’s largest deal

  

  Bloomberg Abu Dhabi is pushing ahead with an initial public offering for Spanish oil company Cia Espanola de Petroleos SAU, in what could be the largest such deal in a decade. The emirate’s Mubadala Investment Co. will offer a stake of at least 25 percent in Cepsa in the fourth quarter, the state-owned investor said on Monday in a statement. ...

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• 17 September

  US to slap 10% tariff on $200bn of China goods

  

  Bloomberg The Trump administration will announce that it’s imposing a 10 percent tariff on $200 billion of Chinese goods, which Beijing has already said it will retaliate against, reports said. The rate is less than half of the 25% level the administration had initially been considering. Still, American consumers could start feeling the cost of the tariffs for everyday goods, ...

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• 17 September

  Opec chief sees need to keep oil supply deal

  

  Bloomberg The Organization of Petroleum Exporting Countries (Opec) needs to keep working with other oil producers to manage global supplies as demand for crude faces ‘headwinds,’ the head of the organisation said. The historic supply deal between Saudi Arabia, Russia and other producers reached in late 2016 needs to become permanent, Mohammad Barkindo, secretary-general of the Opec, said. Oil demand ...

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• 17 September

  UAE, Romania discuss promoting cooperation

  BUCHARES / WAM Ways of accelerating cooperation in the investment and trade sectors were the main topic of discussions at a meeting His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, had with Viorica Dancila, Romanian Prime Minister. The two sides met in the Romanian capital, Bucharest, and discussed boosting ties between the UAE and ...

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• 17 September

  DFM accredits Bahrain’s Sico as market maker

  DUBAI / WAM SICO BSC has been accredited to provide liquidity and act as market maker for companies listed on Dubai Financial Market (DFM). This will help create more dynamic two-way markets that will enhance the liquidity of companies listed on the exchange and result in benefits for investors and stocks of listed companies alike. The accreditation builds on SICO’s ...

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• 17 September

  Florence’s floods obscure damage inflicted on Carolinas

  

  Bloomberg Companies, regulators and environmental groups are waiting for record floods to recede so they can make a comprehensive assessment of damage from Hurricane Florence. Water levels, however, are headed in the wrong direction. Rivers throughout North and South Carolina are days from cresting as the deadly storm moves northeast, according to the National Weather Service. North Carolina will be ...

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