June, 2017

• 14 June

  Venezuelan casual protesters drop out as clashes heat up

  

  Bloomberg After more than 70 days of protests against President Nicolas Maduro, Venezuela’s bitter political standoff has burned down to a fiery core. Anti-government demonstrations once drew turnouts of over a million, but weeks of tear gas and water-cannon blasts have dissuaded casual protesters. Those who remain are more strident, more disruptive and more willing to confront security forces, who ...

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• 14 June

  Emirates eyes smart goggles to shake off budget rivals

  

  Bloomberg Emirates, hoping to shake off budget airlines coveting its long-distance customers, has set its sights on goggles. The Gulf carrier is studying ways to equip staff with augmented reality glasses that display a passenger’s name and travel habits, allowing more personalized service, Emirates’ Chief Digital and Innovation Officer Christoph Mueller said. Travellers may also be given eye-wear to help ...

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• 14 June

  Air Arabia adds Hargeisa to its growing network

  

  Sharjah / Emirates Business Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier, announced that starting July 4, Hargeisa will be the newest African destination added to its growing international network. Air Arabia marked its entry into the African market in 2004, and currently serves six destinations across Egypt, Sudan and Kenya from its main hub ...

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• 14 June

  Head of Burger King, Tim Hortons sees no synergy between brands

  

  Bloomberg Don’t expect to see Tim Hortons doughnuts showing up at a Burger King anytime soon. Restaurant Brands International Inc. — the fast-food empire that owns Burger King, Tim Hortons and now Popeyes Louisiana Kitchen — plans to keep the divisions separate, with no mixing of menu items. Despite Restaurants Brands’ reputation for scooping up businesses and squeezing costs, it ...

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• 14 June

  Boeing pares 50 defense executives, eliminating management layer

  

  Bloomberg Boeing Co.’s defense business is shedding about 50 executive positions, eliminating a layer of management and expanding the operational role of the division’s boss, Leanne Caret. Starting July 1, the $29.5 billion defense unit’s main businesses — Boeing Military Aircraft and Network & Space Systems– will split into smaller entities reporting directly to Caret, the company said in a ...

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• 14 June

  Dior chief upbeat on Europe prospects with Macron reforms

  

  Bloomberg Christian Dior SE Chief Executive Officer Sidney Toledano is optimistic the European economy will do better in the coming years, especially with recently elected French President Emmanuel Macron’s promises to reform labor market regulations. “We have a new president — I think this will be very positive for the economy,” said Toledano in an interview with Bloomberg TV in ...

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• 14 June

  Oil from OPEC’s rivals to exceed demand growth in 2018: IEA

  

  Bloomberg New oil supplies from OPEC’s rivals will be more than enough to meet growth in demand next year, the International Energy Agency said in its first forecast for 2018, an indication the cartel may need to extend production cuts further. The US, Brazil, Canada and other producers outside the Organization of Petroleum Exporting Countries will increase output next year ...

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• 14 June

  China’s May oil output lowest on record

  

  BEIJING­­­­ / Reuters China’s crude oil production fell to its lowest on record in May, even as refineries in the world’s top buyer of crude churned out product at their fastest pace in nearly two years, data showed on Wednesday. Crude output fell 3.7 percent in May from a year earlier to 16.26 million tonnes, or 3.83 million barrels per ...

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• 14 June

  Oil resumes drop on signs US crude stockpiles extended gains

  

  Bloomberg Oil resumed its decline as industry data showed US crude stockpiles extended gains, exacerbating an inventory overhang. Futures lost as much as 1.4 percent in New York after rising 1.8 percent in the previous three sessions. The American Petroleum Institute signaled US inventories probably climbed a second week, ahead of Energy Information Administration data which is forecast to show ...

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• 14 June

  Coal no longer king as China spurs shift to cleaner energy

  Bloomberg China’s domination of energy markets — long the driver of soaring fossil-fuel consumption and rising carbon pollution — is now turning the planet in a cleaner direction. The biggest energy consumer is moving toward the end of an era after it burned the least coal in six years, became the number one producer of renewable energy and even lowered ...

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