October, 2017

• 8 October

  RBS head says banks need Brexit transition details by early 2018

  

  Bloomberg Royal Bank of Scotland Group Plc (RBS) Chairman Howard Davies said details of a post-Brexit transitional deal with the European Union need to be outlined in the next five months to stop more financial-services jobs from leaving London. “If there are no details by the first quarter of next year, the number of moves of people out of London ...

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• 8 October

  Inflation returns as dollar dearth hits Zimbabwe

  

  Bloomberg Zimbabwe’s money shortage has seen card and mobile-money payments eclipse cash sales at the nation’s retailers, throttling suppliers’ stock of hard currency needed to put goods on shelves and forcing up food prices. Cash transactions have shrunk to about 2 percent of daily takings across the 33-store Spar Zimbabwe chain, from 60 percent a year ago, Managing Director Terence ...

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• 8 October

  Wells Fargo passes baton of scorn to Equifax in dueling hearings

  

  Bloomberg Wells Fargo & Co. is wrapping up one of its worst years ever by passing a baton to Washington’s new favourite financial-industry villain: Equifax Inc. Executives from both companies will travel to Capitol Hill this week to testify in overlapping hearings about efforts to aid customers stung by lapses at their firms. Lawmakers on both sides of the aisle ...

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• 8 October

  Boeing bets on robot pilots with Aurora takeover

  

  Bloomberg Boeing Co. is buying drone pioneer Aurora Flight Sciences Corp., gaining a portfolio of futuristic technology such as unmanned air taxis that may someday navigate city skies for Uber Technologies Inc. With the acquisition, Boeing is betting that smarter airplanes will dominate flying, with computer algorithms and artificial intelligence playing an increasingly important role in the cockpit. Aurora is ...

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• 8 October

  Graze mirrors Amazon in retail store push

  Bloomberg The company once known as the Netflix of snacks looks a bit more like Blockbuster video these days—but not in a bad way. Graze, which started selling snack boxes via online subscriptions in the UK a few years back, is for the first time generating a majority of its sales through physical stores—a reminder that food is still almost ...

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• 8 October

  Ryanair CEO appeals to stem pilot revolt

  

  Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary made a personal pledge to improve pay and career prospects for the budget carrier’s 4,200 pilots amid concerns about a rebellion in the aftermath of its cancellation fiasco. O’Leary, often dismissive of pilot demands, is seeking to soothe disgruntled cockpit crew with wage increases of as much as $11,700 and loyalty ...

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• 8 October

  EasyJet counts on failed rivals to boost big-city routes

  

  Bloomberg EasyJet Plc is counting on the failure of three rival carriers to help accelerate its expansion into major European markets, bringing a silver lining to a fare war that depressed full-year earnings. The impact of a weaker pound should also ease, while fuel costs are set to decline, Luton, England-based EasyJet said. UK rival Monarch Airlines Ltd., its neighbour ...

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• 7 October

  IoT to catalyse Mideast’s $70bn digital economy

  

  Dubai / Emirates Business Global digital transformation enabler, SAP, announced on Saturday at GITEX Technology Week 2017 that the Internet of Things (IoT) will catalyze the Middle East’s $70 billion digital contribution to GDP. According to McKinsey, the UAE contribution to that figure is $15 billion. Governments across the Middle East, North Africa, and Southwest Asia are increasingly driving innovative ...

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• 7 October

  DLD world’s first government entity to conduct all transactions via Blockchain

  

  Dubai / WAM The Dubai Land Department (DLD), reached another technical milestone by becoming the world’s first government entity to adopt blockchain technology, reflecting the ‘Dubai Blockchain Strategy’ launched by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of Dubai Foundation for the Future. The initiative has been ...

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• 7 October

  Etisalat to invest AED3bn in network overhaul: CEO

  Abu Dhabi / WAM Etisalat plans to invest more than AED3 billion in 2017 to develop and modernise infrastructure and expand mobile and fibre optic networks, Internet of Things, artificial intelligence and robotics across the UAE, according to a top company executive. Speaking to the media ahead of the GITEX Technology Week, Saleh Al Abdooli, CEO of Etisalat Group, said ...

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