September, 2017

• 10 September

  Private equity prowls for young bankers early in frenetic ritual

  

  Bloomberg Wall Street’s newbies—investment banking analysts straight out of college who just hit the desk—have barely started one job when another starts beckoning. Junior analysts a few weeks on the job can now expect a flurry of emails from headhunters for some of the most prestigious private equity firms in the world. The jobs they’re being recruited for can pay ...

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• 10 September

  British pound climbs to five-week high

  Bloomberg The pound rose to a five-week high against a weaker dollar as investors covered short positions and UK manufacturing data beat expectations. Sterling headed for its third weekly gain against the dollar and hit $1.32, as the greenback dropped against all its Group-of-10 peers. Data showed UK manufacturing rose in July for the first time this year, while the ...

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• 10 September

  Delta enlists ‘Queen of the skies’ in Irma exodus

  

  Bloomberg Delta Air Lines Inc. celebrated the final domestic flight for its Boeing Co. 747 jumbo fleet with an overnight party from Los Angeles to Detroit recently. The farewells were a little premature, it turns out. The carrier enlisted the iconic humpbacked jetliner to help whisk people away from Hurricane Irma, with a special round-trip flight from Detroit to Orlando, ...

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• 10 September

  India mulls excluding debt of flag carrier before stake sale

  

  Bloomberg India’s government, which is planning to sell a stake in its state-run flag carrier, is considering options such as keeping out at least a part of its $8 billion of debt to help lure investors, the nation’s civil aviation minister said. Air India Ltd.’s assets such as real estate could also be spun off into a separate company, A ...

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• 10 September

  Target discounting plan ends up cutting its stock price

  Bloomberg Target Corp.’s announcement that it was cutting prices on thousands of products led to one unintended discount: a nearly 5 percent stock drop. The retail chain said that it spent months examining its products and promotions and was permanently lowering prices on everything from breakfast cereal to razor blades. The announcement was meant as an enticement to customers, but ...

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• 10 September

  Prada warns turnaround to take longer than expected

  Reuters Prada SpA warned that its turnaround plan may take longer than expected as the Italian maker of $2,200 leather totes and $495 Velcro sandals struggles to keep up with rivals’ online expansion and stem a decline in sales. First-half revenue dropped 5.7 percent as the strong euro cut into tourist spending in Europe in recent months, Milan-based Prada said. ...

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• 10 September

  Europe’s top airlines could merge discount units, says IATA

  

  Bloomberg Europe’s major airlines may need to consider merging their low-cost arms in order to fend off the challenge of discount specialists led by Ryanair Holdings Plc, International Air Transport Association Chief Executive Officer Alexandre de Juniac said. Fleets of barely more than 100 aircraft at any of the no-frills offshoots of Europe’s three big network airlines fall far short ...

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• 9 September

  ‘Service 1’ centre to facilitate enhanced customer experience, sharing of ideas

  

  DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has launched ‘Service 1’ centre, at Emirates Tower, which includes 14 government agencies, IBM Watson, and smart robots, to provide personalised services to customers. His Highness Sheikh Mohammed bin Rashid said that Service 1 centre is a model ...

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• 9 September

  Dubai Investments’ AED4.5bn projects win investor interest

  DUBAI / WAM Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market, has announced that its real estate projects worth over AED4.5 billion across the UAE are generating investor interest, amidst optimistic trends in the real estate sector in the country. The company is currently developing the Mirdif Hills project in Mirdif through Dubai Investments Real ...

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• 9 September

  MOHRE set to expand domestic labour supply

  ABU DHABI / WAM The Ministry of Human Resources and Emiratisation (MOHRE) announced that the supply of domestic labour to the UAE will soon expand as the ministry prepares to sign bilateral memorandums of understanding with a number of countries of origin. In a statement, Dr Omar Alnuaimi, Assistant Under-Secretary for Communication and International Relations at MOHRE, said, “Soon after ...

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