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Bloomberg Ocado Group Plc forecast retail revenue growth of as much as 15% this year as it starts to sell products from Marks & Spencer Group Plc and sets up the first of its robot-run delivery systems for supermarkets abroad. The UK online grocer says it’s on track to launch its joint venture (JV) with M&S in September and open …

Bloomberg Oil held near $50 a barrel in New York on signs that the Organisation of Petroleum Exporting Countries (Opec) and its allies probably won’t go ahead with an emergency meeting, even as a global oversupply piles up. While the coalition’s technical experts have recommended a production cutback as Asia’s coronavirus batters demand, Azerbaijan’s Energy Minister Parviz Shahbazov told the …

Bloomberg NMC Health Plc, the operator of the biggest network of hospitals in the UAE, said its chairman will be removed from board discussions after he said he may have misreported the size of his stake. Chairman Bavaguthu Raghuram Shetty is conducting a legal review into the size of his stake, NMC said on Monday. The company is asking its …

Abu Dhabi / WAM Etihad Cargo, the cargo and logistics arm of Etihad Aviation Group, on Monday announced inking a new partnership for Digital Air Cargo with WebCargo by Freightos to expand digital air cargo reach. The WebCargo partnership extends Etihad Cargo’s digital reach to more than 1,700 logistics providers and forwarder customers globally, with the platform serving as an …

Bloomberg Just as it looked like Beijing was starting to get a handle on its regional banking crisis, a much more severe threat is engulfing the world’s largest banking system as a deadly new virus hits the country’s economy. The impact of the spreading coronavirus risks bringing to life the worst-case economic scenarios contained in China’s annual banking stress tests. …

Bloomberg A survey of HSBC Holdings Plc’s 237,000 staff has highlighted falling morale as employees brace themselves for job cuts in a strategy review due later this month. At HSBC’s European arm, confidence in the direction of the bank dropped 21 points in the second half of 2019 compared to the first half, according to an internal document seen by …

Bloomberg Consolidation in Italy’s banking industry will probably be postponed — again. Potential tie-ups were high on the agenda of the bankers who gathered in the northern town of Brescia for the Assiom Forex conference, but no one seemed ready to take the first step. The current regulatory framework and Italy’s poor economic prospects will probably delay deals that analysts …

Bloomberg Deutsche Bank AG and SSG Capital Management have made a joint bid for an Indian power producer’s debt of 60 billion rupees ($842 million), according to a person familiar with the matter. The consortium has submitted a binding bid of about 31 billion rupees for the delinquent debt of Chennai-based Coastal Energen Pvt, the person said, asking not to …

Bloomberg Denmark and Switzerland have long shared the world record in negative interest rates, at minus 0.75%. But that may be about to change. Economists at some of the biggest Nordic banks say Denmark, which pegs the krone to the euro, is likely to raise its key rate in the coming months. Not long ago, they thought a cut was …

Bloomberg Irish stocks slid on Monday after polls put Sinn Fein in place for a possible role in government, fuelling declines in banks and property shares given that the party’s policies include a wealth tax and a freeze on residential rents. The benchmark ISEQ Index slid as much as 1.4%, with Bank of Ireland Group Plc and AIB Group Plc …