August, 2017

• 29 August

  Harvey’s second act could drive up economic damage for Texas

  

  ­­­­­­­­­­­Bloomberg As Harvey’s winds die down, trouble for Texas may have just begun with forecasts for unprecedented flooding across the heart of US energy production and in Houston, the nation’s fourth-largest city. Harvey smashed ashore as a Category 4 hurricane on Friday near Rockport, Texas. Two deaths have been attributed to the storm, which has also halted about one quarter ...

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• 29 August

  Tim Cook reaps $89.2mn shares as Apple outshines S&P

  Bloomberg Apple Inc. Chief Executive Officer Tim Cook collected 560,000 shares, half of them linked to the company’s performance and the maximum allowed under the iPhone maker’s long-term compensation programme. The award was worth $89.2 million when it was granted on Thursday, based on Apple’s $159.27 closing price. He received the performance-linked stock because Apple shares outperformed at least two-thirds ...

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• 29 August

  Google faces deadline as EU fines loom

  

  Bloomberg Google faces a deadline to tell the European Union how it plans to comply with an order to stop discriminating against rival shopping search services under threat of new fines that would add to a record $2.9 billion penalty. The EU gave the Alphabet Inc. unit 60 days to propose how it would “stop its illegal content” and 90 ...

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• 29 August

  Uber new boss may get $200mn

  

  Bloomberg Uber Technologies Inc.’s new chief executive officer likely comes with a price tag in the neighborhood of $200 million. Dara Khosrowshahi, who spent 12 years at the helm of Expedia Inc., held unvested stock options in that company worth $184.4 million, according to data compiled by Bloomberg. Companies typically grant replacement awards to executives who must forfeit unvested equity ...

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• 29 August

  NYC boosts cigarette prices to $13, bans sales by pharmacies

  

  Bloomberg New York boosted the minimum price of a pack of cigarettes by 24 percent to $13 and placed a cap on the number of tobacco sellers, part of the city’s biggest crackdown on smoking in more than a decade. The anti-tobacco moves came in the form of a seven-point package of laws that Mayor Bill de Blasio signed. The ...

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• 29 August

  United likely to suffer $265mn blow from Hurricane Harvey

  

  Bloomberg United Continental Holdings Inc. is likely to take at least a $265 million financial hit from Hurricane Harvey because of the carrier’s reliance on Houston as one of its biggest hubs, an airline analyst said. The third-largest US carrier’s seat count will fall an estimated 1.5 percent in the current quarter because of the storm, with little opportunity to ...

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• 29 August

  Thai online shopping binge, a sign of Southeast Asia market size

  

  Bloomberg Thailand has seen an explosion of internet shopping in recent years as consumers become more tech savvy. And if that’s anything to go by, e-commerce in Southeast Asia is taking off as well. Online retail sales in Thailand of everything from washing machines and televisions to fish sauce are growing more than 100 percent, far outpacing purchases made at ...

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• 29 August

  Ocado taps Amazon’s Alexa for voice ordering in convenience push

  

  Bloomberg UK online grocer Ocado Group Plc is teaming up with Amazon.com Inc. to let shoppers top up their baskets using the US e-commerce giant’s voice-recognition system. The Hatfield, England-based company has developed an app for Amazon’s Alexa that allows customers to add items to their digital shopping lists, keep track of orders and ask for product recommendations simply by ...

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• 29 August

  Coty falls to 4-year low on integrating P&G’s beauty brands

  

  Bloomberg Coty Inc. tumbled the most since going public four years ago after its quarterly financial report signaled the integration of dozens of beauty brands it bought from Procter & Gamble Co. is still proving to be a challenge. Excluding some items, earnings per share broke even in the fourth quarter that ended June 30, the company said. That missed ...

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• 29 August

  Full tanks may ease risk of fuel crisis from Harvey

  

  Bloomberg ­­­­­­­­­­­­­­­ As devastating as the flooding has been for oil refiners in the US Gulf Coast, surplus fuel inventories may help the industry withstand the worst storm to hit the country in more than a decade. Deluges from Tropical Storm Harvey have turned Houston’s busiest highways into canals of standing water and displaced thousands of people and livestock. The ...

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