Bloomberg Airbus SE threatened to pull its UK investments if Britain walks away from the European Union without a deal, upping the stakes for Prime Minister Theresa May as she fights to deliver a Brexit that won’t wreck the country’s economy. In the starkest warning yet from any major company, the aerospace giant said that a departure from the single …
Read More »Singapore Air CEO sees risk to cargo beyond trade spat
Bloomberg As the brewing trade battle between the US and China threatens to slow demand for air freight, the market is also facing pressure as demand gets in line with supply, according to the chief executive officer of Singapore Airlines Ltd. “From a business perspective, we would like to see countries around the world to work together to grow the …
Read More »Bombardier reaches tentative labour agreement at sold factory
Bloomberg Workers at a Bombardier Inc. aircraft plant that was recently sold to a pension fund have reached tentative labour agreements with the company. Unifor, the union that represents about 2,000 production and office staff at the Downsview facility in Toronto, is recommending that members ratify the deals. Details won’t be released until after workers vote on Sunday. Workers had …
Read More »Barnes & Noble tells investors turnarounds ‘take time’
Bloomberg As the largest US retail bookseller tries to enact a turnaround, some investors may be losing their patience. Barnes & Noble Inc., which saw same-store sales drop 5.4 percent in the latest year, said it’s expecting that measure to improve this year. Double-digit declines in gifts, music and movies drove also down comparable sales in the fourth quarter ended …
Read More »Mexican airline vows to reunite immigrant families for free
Bloomberg A Mexican airline is offering to reunite families separated by President Donald Trump’s “zero tolerance†immigration policy — for free. Controladora Vuela Cia de Aviacion, known as Volaris, said it will try to work with authorities in the US, Mexico and Central America to bring back family members. The company operates flights across Mexico and to various US cities, …
Read More »OPEC, allies agree to raise oil output
Bloomberg OPEC and its allies gave the final sign-off to an oil-production increase, sealing a victory for Saudi Arabia and Russia. Major producers outside the Organization of Petroleum Exporting Countries — including Mexico and Kazakhstan — met ministers from the cartel on Saturday and endorsed a nominal output increase of 1 million barrels a day, said Ecuador’s Minister of Hydrocarbons …
Read More »UAE, US discuss stronger economic cooperation
WASHINGTON / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, and US Commerce Secretary, Wilbur Ross, discussed ways to enhance cooperation in the economic and trade fields between the two countries. This came during a meeting held in Washington during the official visit of Al Mansouri to take part in The Select USA Investment Summit is being held from …
Read More »Dubai Properties projects draw interest from Chinese investors
Dubai / WAM Dubai Properties, a member of Dubai Holding, is drawing high interest for its upscale projects from investors and potential buyers in China as part of its participation at Luxury Property Showcase (LPS) Beijing 2018, the leading luxury property show that is currently underway in the Republic’s capital city. Dubai Properties, a member of Dubai Holding, is drawing …
Read More »Unfracked oil wells growing as ‘pipeline’ scarcity worsens
Bloomberg Pipeline bottlenecks in North America’s biggest oil field are so pervasive that drillers are quitting new wells at a record pace. And it’s about to get a lot worse. The vast pipe networks that haul crude from the Permian Basin are almost completely full thanks to a production boom in the oil-rich area of West Texas and New Mexico. …
Read More »Sierra hires Canada’s Scotia Waterous to sell stake in Mexico block
Bloomberg Upstart Mexican driller Sierra Oil & Gas S de RL de CV, which co-owns a billion-barrel find in the Gulf of Mexico, has hired Canada’s Scotia Waterous to sell a stake in a nearby exploratory block. “We are negotiating the final terms of the agreement with the buyer,†said Ivan Sandrea, Sierra’s chief executive officer, speaking over the phone …
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