September, 2016

• 20 September

  JetBlue to burn renewable biofuel mix on NY flights

  

    Bloomberg JetBlue Airways Corp. will burn a mixture of biofuel and traditional jet kerosene on some flights at New York City-area airports under a 10-year purchase agreement designed to cut aircraft pollution and costs. The airline will purchase more than 33 million gallons of blended fuel annually under the contract with S.G. Preston Co., a bioenergy company based in ...

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• 20 September

  Airbus chief says job cuts not off table

    Blagnac / AFP Airbus chief Tom Enders said he did not rule out job cuts at the European aircraft manufacturer after a media report said the group was considering slashing costs. “You never exclude anything when you’re talking about efficiency and synergy but we’re in the process of thinking it all through, how we can make our corporate structures ...

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• 20 September

  Amazon is now eating all the department stores, too: Report

  

    Bloomberg Amazon is already the biggest clothing seller online. It might soon overtake most of its brick-and-mortar rivals in fashion sales, as well. There were no runway models on any Amazon catwalk at last week’s New York Fashion Week. But the e-commerce giant still loomed large in the minds of retail executives watching it elbow its way into the ...

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• 20 September

  CLSA: China risks $375bn of shadow banking losses

  

    Bloomberg China’s shadow banking could lead to losses of $375 billion, according to CLSA Ltd. estimates of likely levels of bad debt. The brokerage estimated the potential bad debt ratio for “bank-related shadow financing” at 16.4 percent, or 4.2 trillion yuan, in a report released to the media in Hong Kong on Tuesday. Assuming a 40 percent recovery rate ...

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• 20 September

  HSBC top South-east Asia dealmaker quits

  

    Bloomberg HSBC Holdings’ South-east Asia advisory head Andrew Lim is leaving the UK bank just a few months after taking charge of dealmaking in the region, according to a person with knowledge of the matter. The Singapore-based managing director had taken over the South-east Asia role after predecessor Alvin Lim left HSBC for CVC Capital Partners earlier this year, ...

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• 20 September

  Bank of France warns presidential candidates to heed deficit targets

  

    Bloomberg Bank of France Governor Francois Villeroy de Galhau warned the nation’s presidential candidates that they need to meet deficit-cutting commitments or risk losing credibility with other European Union governments. “France has promised to go below 3 percent in 2017 and all our European partners are waiting or us. It’s the cornerstone of our credibility in Europe,” Villeroy de ...

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• 20 September

  Weak trade is the ‘new normal’ in post-crisis world, says ECB

  

    Bloomberg Trade is likely to remain weak in the coming years, according to a report by the European Central Bank. While global trade grew on average roughly twice as fast as global output prior to the financial crisis, the ratio of imports to world GDP has largely stagnated over the last five years and will probably remain at current ...

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• 20 September

  Deutsche Bank to offload risk by securitizing corporate loans

  

    Bloomberg Deutsche Bank AG, which is trying to bolster its capital, is working to securitize billions of dollars of corporate loans to offload risk, according to a person with knowledge of the matter. The bank is structuring the transaction as a synthetic collateralized loan obligation, which means the firm would keep servicing loans while transferring risk to investors, said ...

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• 20 September

  End of Iran sanctions signals tougher times for India’s UCO

  

    Bloomberg Many banks around the world are gearing up for new business with Iran after years of punishing sanctions were lifted in January. Not so the state-owned UCO Bank Ltd., which is forecasting lower profit after losing its privileged position as the only Indian bank involved in financing the country’s oil imports from the Middle Eastern nation. After sanctions ...

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• 20 September

  Trends in store at GITEX for the tech-savvy

  

    Abu Dhabi / Emirates Business With a finger on the pulse of the fast-paced consumer electronics industry, GITEX Shopper tracks top 10 trends for tech savvy consumers looking to update devices and tap into the latest developments in the industry. Visitors to the Middle East’s largest consumer IT and electronic show, which will take place from October 1-8 at ...

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