September, 2017

• 24 September

  GE shocks private-jet sector, preaching ‘no plane, no gain’

  

  Bloomberg Imagine if Facebook Inc. founder Mark Zuckerberg announced he was unplugging from the internet to save time. That’s how private-jet industry executives feel about General Electric Co.’s cost-cutting move to sell the bulk of its corporate fleet. GE’s plan to shed five company-owned planes flies in the face of the boardroom axiom that such aircraft are time- and money-saving ...

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• 24 September

  Norwegian Air’s global expansion draws fire from rival Ryanair

  

  Bloomberg Norwegian Air “is not long for this world,” says Michael O’Leary, the chief executive of Ryanair Holdings Plc, itself in turmoil thanks to a pilot-staffing pinch that’s killed travel plans for hundreds of thousands of customers. “That’s just nonsense,” says Norwegian CEO Bjorn Kjos. Norwegian is under investor scrutiny given its large order of more than 200 aircraft, split ...

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• 24 September

  L’Oreal ‘advances’ for sale of Nestle’s holding

  

  Bloomberg L’Oreal SA shares surged the most in seven years on speculation that the death of the founding family’s matriarch, Liliane Bettencourt, could clear up the cosmetics maker’s ownership through a takeover or a buyback. Bettencourt’s death raises questions about the stake Nestle SA has held in the French company for more than four decades. Her passing makes it more ...

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• 24 September

  Amazon looks to deliver ‘Shake Shack, Chipotle’ amid food push

  

  Bloomberg Amazon.com Inc. may soon bring Shake Shack burgers and Chipotle burritos to your door as it pushes deeper into the growing market for restaurant delivery. The e-commerce titan has been working to crack the code on food delivery for at least a decade. Now that Amazon has a major toehold in the grocery industry following its $13.7 billion acquisition ...

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• 24 September

  China curbs oil product exports to Pyongyang, bans condensate

  

  Bloomberg China slapped fresh sanctions on North Korea, curbing some oil product exports to the country, after US President Donald Trump ordered new sanctions this week. China halted the outbound shipment of condensate and liquefied natural gas to North Korea from Saturday, and will limit exports of refined oil products from Oct. 1, the Ministry of Commerce said in a ...

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• 24 September

  Tullow Oil to restart drilling in Ghana

  

  Bloomberg A ruling by the International Tribunal for the Law of the Sea will keep Tullow Oil Plc’s offshore fields under Ghana’s jurisdiction following the end of a boundary dispute with Ivory Coast. The Tweneboa, Enyenra and Ntomme fields, which hold an estimated 2 billion barrels of oil and 1.2 trillion cubic feet of natural gas, will remain with the ...

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• 24 September

  Reliance mulls major expansion at world’s largest oil refinery complex

  

  MUMBAI / NEW DELHI / Reuters India’s Reliance Industries, operator of the world’s largest refining complex, is considering expanding its oil processing capacity by over 40 percent by 2030, according reports. Reliance may expand the capacity at its dual refinery complex in Jamnagar in the western Indian state of Gujarat by 30 million tonnes a year to 100 million tonnes ...

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• 24 September

  Saudi lifts ban on Skype, Whatsapp calls in bid to spur online business

  

  RIYADH / Reuters Saudi Arabia removed its ban on internet phone calls, a government spokesman said, in a bid to stimulate online business as the kingdom looks to boost non-oil revenue. All online voice and video call services such as Microsoft’s Skype and Facebook’s WhatsApp that satisfy regulatory requirements will become accessible at midnight (2100 GMT), Adel Abu Hameed, spokesman ...

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• 24 September

  Data analytics veteran joins Qarar as COO

  Dubai / Emirates Business Qarar, the region’s leading decision analytics company, appointed Nico van der Westhuizen as its new Chief Operating Officer (COO). Based in Dubai, he will be responsible for driving strategic development, delivery excellence and partnerships for Qarar. With increasing demand for software and advisory services in the advanced analytics space, Qarar has increased its commitment and focus ...

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• 24 September

  Uncertainty grips solar developers as industry awaits Trump’s ruling

  

  Bloomberg US solar developers are bracing for months of uncertainty after a federal trade agency ruled that imported panels are crippling American manufacturers, giving President Donald Trump until January to decide whether to impose tariffs. The $29 billion industry had largely expected the 4-0 decision from the US International Trade Commission. Even before the vote, developers were halting construction and ...

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