November, 2017

• 15 November

  Bank rescue plan may squeeze a corner of Canada’s bond market

  

  Bloomberg New rules to protect taxpayers from bank failures may push investors out of a C$95 billion ($75 billion) corner of Canada’s corporate bond market, reducing liquidity and raising borrowing costs. Under a regime set to take effect in 2018, short-term bank-deposit notes typically sold to institutional investors will gradually be replaced by senior “bail-in” debt that can convert to ...

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• 15 November

  BOE on a one-a-year path on interest rate increases

  

  Bloomberg The Bank of England is on a one-a-year cycle when it comes to interest-rate increases, according to economists surveyed by Bloomberg. The BOE lifted its benchmark to 0.5 percent on November 2 — the first hike in a decade — and the median forecast is for another move in the fourth quarter of 2018, earlier than then 2019 prediction ...

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• 15 November

  S African banks prepare for worst as junk rating looms

  

  Bloomberg South African banks are preparing for the worst when it comes to the threat of another downgrade of the country’s debt. “FirstRand anticipated the downgrades since 2015 and has been working on a number of proactive strategies to mitigate the impact,” said Andries du Toit, the treasurer at Johannesburg-based FirstRand Ltd., the country’s second-biggest bank by assets. The measures ...

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• 15 November

  Airbus seals $50bn jet deal to outdo Boeing

  

  Bloomberg Airbus SE announced the biggest commercial-plane transaction in its history, securing an order for single-aisle aircraft valued at nearly $50 billion at the Dubai Airshow, outdoing Boeing Co.’s own $20 billion mega-deal. Wednesday’s pact for 430 A320neo planes with US investor Indigo Partners marked a turnaround for Airbus at the Gulf expo, where it had been trailing its rival. ...

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• 15 November

  Southwest’s new 737 lags in on-time flights

  

  Bloomberg Southwest Airlines Co.’s new 737 Max jets will offer the latest and greatest in flying efficiency from Boeing Co.—at least once all the kinks are worked out. In its first month of flying, the 10 Max planes in Southwest’s fleet ranked behind its more seasoned aircraft for on-time performance. While the hiccups weren’t serious, they served as a reminder ...

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• 15 November

  Pratt & Whitney to unveil new seal design for A320neo

  Bloomberg Pratt & Whitney is close to unveiling a design change for engines used in Airbus SE A320neo and Bombardier Inc. C-Series jets aimed at fixing issues with a carbon seal that has led customers to ground dozens of brand new planes, a person with knowledge of the matter said. Pratt is switching to a proven technology that reduces instances ...

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• 15 November

  Home Depot’s post-hurricane boom comes at expense of profit

  

  Bloomberg Home Depot Inc. saw sales surge in the wake of this year’s barrage of hurricanes, but the storms still took a toll on the Atlanta-based retailer’s bottom line. Even as cleanup and rebuilding efforts helped the chain’s sales top analysts’ estimates, expenses related to the storms reduced operating profit by $51 million. Customers stocked up on less profitable plywood ...

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• 14 November

  UAE to invest AED7.5bn in UK renewables sector

  

  ABU DHABI / WAM Baroness Rona Fairhead, UK Minister of State for Trade and Export Promotion at the Department for International Trade (DIT) told Emirates News Agency (WAM) that the UAE is to invest 1.5 billion Pounds (AED7.5billion) in the UK in areas of renewable energy. “Brexit will help the UK pursue a more open economic policy. We are accelerating ...

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• 14 November

  ADNOC to boost capacity of Bab oil field

  ABU DHABI / WAM The Abu Dhabi National Oil Company (ADNOC) announced a significant investment to upgr-ade its Bab field, re-energising one of its largest onshore producing assets to sustain and enhance output. This is an important step towards delivery of the ADNOC group’s 2030 smart growth strategy that seeks to increase its crude oil production capacity and reduce cost, ...

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• 14 November

  Aviation District opens new suppliers complex

  DUBAI / WAM Aviation District, the integrated aerospace ecosystem within Dubai South, has added another phase, a Suppliers Complex, to the development of its world leading ‘Aerospace Supply Chain’, offering maintenance and manufacturing solutions to meet all the practical aspects of the aviation and aerospace industries. The Dubai South Aerospace Supply Chain is a landside free zone development of multi-purpose ...

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