August, 2018

• 7 August

  China’s gas tariffs are a Permian-size problem

  

  Energy dominance sure does seem to come with a hefty dose of self-flagellation. The latest bit of America’s energy sector to feel the over-the-shoulder lash is the liquefied natural gas-export business. LNG joined the list of goods that China will hit with tariffs in retaliation for US ones. This is problematic when you consider China has taken 13 percent of ...

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• 7 August

  Pepsi’s Nooyi leaves us feeling a bit flat

  

  Indra Nooyi will step down as Chief Executive Officer of PepsiCo Inc, Bloomberg News reported. Two big problems trail in her wake. Her departure, scheduled for October, leaves the S&P 500 on track to have just 23 female CEOs, less than 5 percent of the total, according to data from Catalyst, a non-profit research and advisory group. It’s not just ...

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• 7 August

  How to make the global economy work for all

  

  Since the end of World War II, a broad consensus in support of global economic integration as a force for peace and prosperity has been a pillar of the international order. Since the fall of the Berlin Wall a generation ago, the power of markets in promoting economic progress has been universally recognised. From global trade agreements to the European ...

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• 7 August

  Cathay Pacific’s recovery hits rough patch on oil, trade war

  

  Bloomberg It’s turning out to be a bumpy road to recovery for Cathay Pacific Airways Ltd. Just when the premium airline was showing signs of a rebound, crude oil played spoilsport again, denting early gains from a transformation plan that CEO Rupert Hogg considers crucial to survival. More uncertainty lies ahead for the world’s third-largest cargo carrier as a global ...

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• 7 August

  Pandora slashes forecast with its misery deepening

  

  Bloomberg Pandora A/S plunged after the world’s biggest jewelry maker cut its profit and sales forecasts amid struggles in key markets such as the US and China. The shares fell more than 20 percent, the most in seven years, and were down 19.7 percent at 345.4 kroner in the Danish capital. Investors were battered by a similar slump just three ...

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• 7 August

  P&G languishes as new rivals hurt momentum

  

  Bloomberg Procter & Gamble Co. (P&G) is still the king of diapers and shampoo, but an onslaught of new competition and tighter ordering from traditional retailers is tarnishing the consumer-goods giant’s crown. Investors were lukewarm to the company’s fourth-quarter results, leaving the shares little changed after sluggish organic sales growth. In addition to the new rival products — which range ...

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• 7 August

  Burberry changes logo for first time in two decades

  

  Bloomberg Burberry has changed its logo for the first time in 20 years, revealing the new look via an Instagram post. The British heritage brand’s new logo says “Burberry London England” in stark capital letters, replacing the softer, rounder font the company previously used. Riccardo Tisci, the star designer Burberry hired this year to revamp its brand image, posted screen ...

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• 7 August

  Walmart’s zeal for green power meets a coal-loving president

  

  Bloomberg The plan laid out by Walmart Inc. was bold and startling: One of the biggest private electricity users in the US promised to get half its power from solar and wind by 2025. If successful, Walmart would leap over Google to become the world’s top green-energy buyer. That was November 4, 2016. Days later, Donald Trump was elected president, ...

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• 6 August

  UAE voices solidarity with Saudi against any foreign interference

  ABU DHABI / WAM The UAE has expressed its absolute rejection of any interference in the internal affairs of the Kingdom of Saudi Arabia and voiced its vehement support for any actions or policies the country may take or adopt in this regard. ‘‘The UAE stands in solidarity with Riyadh in the confrontation of any foreign interference that may undermine ...

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• 6 August

  UAE authority attaches growing importance to AI

  

  DUBAI / WAM The UAE Council for Artificial Intelligence and Digital Transactions highlighted the impor- tance of training Emiratis and attracting international talent who specialise in data, to achieve the goals of the UAE Strategy for Artificial Intelligence and the UAE Strategy for Digital Transactions, in line with the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President ...

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