October, 2016

• 11 October

  Norwegian Air to hire USA pilots for Florida 787 push

  

    Bloomberg Norwegian Air Shuttle ASA, the focus of protests by U.S. carriers and unions over labor practices, plans to recruit and hire commercial airline pilots in the country as the carrier expands flights out of Florida. Norwegian, supported by a fleet of Boeing Co. 787 Dreamliners, will be the only European airline to hire U.S.-based pilots, according to a ...

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• 11 October

  Vintage biplanes prepare journey across Africa

    Shoreham-by-Sea / AFP A dozen biplanes from the 1920s and 1930s will fly 8,000 miles from Crete to Cape Town next month in a vintage aviation rally that harks back to the early days of air travel. The pilots will fly along the Nile from Cairo to Khartoum, past the highlands of Ethiopia, down through East Africa past Mount ...

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• 11 October

  Airbus protests furiously over Poland’s handling of chopper deal

  

    Paris / AFP Airbus on Tuesday angrily lashed out against the Polish government’s handling of a failed helicopter deal which has caused diplomatic tensions between Paris and Warsaw. “Never have we been treated by any government customer the way this government has treated us,” Airbus chief executive Tom Enders said in a statement. The sharp criticism comes days after ...

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• 11 October

  Historic Solar Impulse team planning drone

    Geneva / AFP Circling the globe in an aircraft that used no fuel would be enough for some to rest on their laurels, but the pilots of Solar Impulse 2 spoke of their new project. “An unmanned version of Solar Impulse,” aviator and engineer Andre Borschberg told reporters when asked what groundbreaking mission the Swiss-based team was tackling next. ...

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• 11 October

  Toys ‘R’ Us may get an IPO if it’s good this Christmas

  

    Bloomberg It is setting up to be a very merry Christmas for Toys “R” Us. Two quarters of strong sales will likely be followed by the brightest holiday season in years for the struggling toy retailer, which has spent more than a decade under private equity ownership. During that time it has mostly been cutting costs, closing stores — ...

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• 11 October

  Singapore central bank cracks down on money laundering

  

    Singapore / AFP Singapore’s central bank on Tuesday shut down a second Swiss bank under investigation for alleged money-laundering activities linked to Malaysian state fund 1MDB as it vowed strong action against potential violators. The Monetary Authority of Singapore (MAS) said it had ordered Falcon Bank to cease operations in the city-state because of “serious failures in anti-money-laundering (AML) ...

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• 11 October

  Wells Fargo forms tech-payments group, promotes managers

  

    Bloomberg Wells Fargo & Co. combined corporate payments and some consumer-banking operations with the technology-innovations group, creating a unit run by the former leader of consumer lending, Avid Modjtabai. As head of the Payments, Virtual Solutions and Innovation unit, Modjtabai will report to Chief Operating Officer Tim Sloan, according to a statement Monday from the San Francisco-based bank that ...

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• 11 October

  QNB posts $2.7 billion net profit

  

    Emirates Business For the nine months ended September 30, the net profit of Qatar National Bank reached $2.7 billion, up by 11% compared to last year. Total assets reached $196 billion, up by 37% from September 2015, the highest ever achieved by the Group. QNB Group completed the acquisition of 99.88% stake in Finansbank A.S. – Turkey, during the ...

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• 11 October

  VTB Bank investment unit to quit London

    Moscow / AFP Russia’s VTB Bank on Tuesday said it was considering relocating the London office of its investment banking division over Britain’s decision to leave the European Union. “Relocating from London or maintaining our presence there will depend on how Brexit unfolds,” the group said in a statement. “Due to Brexit, VTB will be adjusting its activities in ...

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• 11 October

  Bank clampdown dims allure of scandal-hit Baltic haven

  

    Bloomberg Many Latvians got a shock this summer when they were informed their bank accounts risked being blocked if they didn’t hand over details of their citizenship, financial plans and any ties to high-level politics. Demands to fill out online questionnaires were dispatched by lenders at the behest of financial regulators, who’ve been battling the Baltic nation’s reputation as ...

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