June, 2016

• 27 June

  Nike shakeup creates three-man race to succeed Parker as CEO

  

      Beaverton / Bloomberg The race to run the world’s biggest sports brand is now a three-way contest. Nike Inc. Chief Executive Officer Mark Parker isn’t going anywhere just yet, but an April shakeup in the executive ranks has set off speculation that an internal battle is brewing for the opportunity to succeed him. The payoff: a chance to ...

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• 27 June

  Air traffic controller shortages double training time for hires

  

    Washington / TNS A lack of staff to train air traffic controllers means it can take six years — twice the norm — for the new hires to become fully certified at the busiest US control facilities, according to industry experts and government reports. The training delays come as the National Air Traffic Controllers Association says it faces a ...

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• 27 June

  Trudeau to host Obama, Mexican President for NAFTA summit

  

    Ottawa, Canada / AFP Canada, Mexico and the United States will look to dovetail their climate and other policies into a continental strategy when Prime Minister Justin Trudeau hosts Barack Obama and Enrique Pena Nieto on Wednesday. But Britain’s shocking vote to quit the European Union has also abruptly shoved itself onto the agenda of the summit, which the countries ...

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• 27 June

  Brexit impact hangs on policy makers’ next move, says Lagarde

  

    Bloomberg International Monetary Fund Managing Director Christine Lagarde said that the fallout from Britain’s vote to leave the European Union hinges on what policy makers do in coming days. Much of the outcome “is going to depend on certainty or uncertainty, predictability or lack of predictability — people going in a risk-off mode or considering that the situation is ...

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• 27 June

  Oil trades near $48 a barrel as UK vote spurs market volatility

  

    Bloomberg Oil traded near $48 a barrel as the market remained volatile after the U.K. last week voted to leave the EU. Futures rose as much as 0.7 percent after declining 1.5 percent earlier in New York, following Friday’s 4.9 percent slump, the biggest drop in four months. The turmoil in financial markets continued on Monday with the pound ...

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• 27 June

  NYC’s Waldorf Astoria said to close in 2017 for condo rebuild

    Bloomberg New York’s landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums, said a person with knowledge of the plans. The luxury hotel, managed by Hilton Worldwide Holdings Inc., is set to reopen as many as three years ...

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• 27 June

  Markets were rational, but UK voters weren’t

  

    It was 22 years ago this month when the U.S. was preparing for combat. North Korea’s expanding nuclear weapons program prompted President Bill Clinton to order reinforcements. The administration was lining up votes in the U.N. Security Council to impose economic penalties on the Pyongyang government, which repeatedly denounced sanctions as a “declaration of war.” Any investors could see ...

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• 27 June

  Cambodia rejects Europe’s human rights criticisms

    Mong Palatino SPECIAL TO EMIRATES BUSINESS On June 9, the European Parliament passed a resolution expressing “deep concerns about the worsening climate for opposition politicians and human rights activists in Cambodia.” Meanwhile, 41 international NGOs signed a letter urging the Cambodian government to stop the harassment of groups working for people’s rights. Cambodian authorities were quick to dismiss these ...

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• 27 June

  Did China just kill cross-strait relations?

  

    Shannon Tiezzi SPECIAL TO EMIRATES BUSINESS Well before Taiwan held its elections on January 20, Beijing made it clear that the “1992 consensus” was its bottom line for cross-strait relations. During an historic meeting with then-President Ma Ying-jeou of Taiwan, Chinese President Xi Jinping stressed that “as long as the 1992 Consensus and its core values are acknowledged, we ...

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• 26 June

  UAE Space Agency, Lockheed Martin deal to train Emirati space talent

    ABU DHABI / WAM The UAE Space Agency signed a Memorandum of Understanding (MoU) with Global technology leader, Lockheed Martin, to launch a comprehensive dual-track space training programme for students and early career professionals in space fundamentals. Designed to prepare tomorrow’s Emirati leaders for future careers in space, the programme will feature a comprehensive four-month space training programme that ...

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