October, 2016

• 18 October

  Kenya Airways pilots postpone strike

    Bloomberg Kenya Airways pilots have called off a planned strike at the airline partly owned by Air France-KLM after talks between union officials and government representatives, according to a spokeswoman. The Kenya Airline Pilots Association, or KALPA, intended to go on strike from October 18 to demand the resignation of Chief Executive Officer Mbuvi Ngunze and Chairman Dennis Awori. ...

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• 18 October

  Southwest, Virgin America, JetBlue restore bookings

    Bloomberg Customers of Southwest Airlines Co., JetBlue Airways Corp. and Virgin America Inc. can resume online flight bookings after technical difficulties with Sabre Corp. computer systems prevented reservations from being made on their websites. “The technical issue that impacted some of our airline and travel agent customers has been resolved and our partners and subscribers are reporting that systems ...

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• 18 October

  Burberry falls most in a year as Asian woes erode Brexit gain

  

    Bloomberg Burberry Group Plc shares fell the most in a year after the British trench coat maker reported declines in its Asian business and worsening results at its wholesale unit, offsetting a Brexit-inspired boost in tourist spending in the UK. The stock declined as much as 10 percent in London, the biggest intraday drop since Oct. 15 of last ...

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• 18 October

  China money rate climbs most in 2 years as PBOC drains funds

  

    Shanghai / Agencies China’s two-week money-market rate climbed the most in almost two years as the central bank drained funds from the financial system and a weakening yuan reduced the possibility of monetary easing. The 14-day repurchase rate, a gauge of interbank funding availability, surged 52 basis points, the most since December 2014, to a two-week high of 3.03 ...

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• 18 October

  UK targets banks who game league tables to win clients

  

    Bloomberg Britain’s banks face a ban on restrictive contract clauses and misuse of league tables in pitches to clients, in an attempt by the UK’s financial regulator to shake-up competition in investment and corporate banking. In a final report published by the UK Financial Conduct Authority on Tuesday, the agency said improvements must be made by banks in primary ...

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• 18 October

  Goldman Sachs profit hits 47% in Q3

  

    Bloomberg Goldman Sachs Group Inc., once the most profitable firm on Wall Street, reported a 47 percent increase in third-quarter earnings as revenue from bond trading surpassed analysts’ predictions. Net income rose to $2.09 billion, or $4.88 a share, from $1.43 billion, or $2.90, a year earlier, the New York-based company said. Chief Executive Officer Lloyd Blankfein, 62, has ...

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• 18 October

  BlackRock profit jumps 3.8% in third-quarter

    Bloomberg BlackRock Inc., the world’s largest money manager, said third-quarter profit rose 3.8 percent as the firm cut costs while assets under management increased. Net income increased to $875 million, or $5.26 a share, from $843 million, or $5, a year earlier, according to a statement on Tuesday. Adjusted earnings of $5.14 a share beat the $4.98 average estimate ...

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• 18 October

  Role of asset-management firms key to clean bad loans

  

    Bloomberg Chinese central bank Deputy Governor Fan Yifei talked up the importance of asset-management firms created to clean up bad loans at a briefing on Sunday, saying that they played a key role in reducing corporate leverage. Speaking in Beijing at the launch of a restructured China Orient Asset Management, a bad-loan manager backed by the Finance Ministry and ...

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• 18 October

  UN adopts approach to sustainable urban agenda with UAE backing

  

    QUITO / WAM The 193 countries of the United Nations, represented by over 30,000 delegates, on Monday night adopted a milestone new approach to sustainable urban development, with prominent assistance from the United Arab Emirates. Cities now represent around 80% of global GDP, and by 2050 are expected to grow in population from 3.9 billion in 2014 to 6.3 billion ...

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• 18 October

  Mohammed launches campaign to preserve national heritage

    Dubai / WAM Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum announced the launch of the national campaign ‘Let’s Preserve the Legacy’ and extended an open invitation to the community to contribute historical items to the Etihad Museum, which will be officially inaugurated during the UAE National Day ...

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