The floods in Venice that have killed several people and damaged hundreds of buildings including St Mark’s Basilica appear inexorable. The city is a fragile treasure built on 118 islands off Italy’s northeast coast. In a way, it’s a miracle that Venice has managed to survive and thrive for more than 1,000 years. It built a naval and commercial empire ...
Read More »The climate crisis is coming for your Land Rover
If you’ve dropped the kids off at school in London or the New York suburbs recently, the idea that Jaguar Land Rover (JLR) Automotive Plc is struggling must seem far-fetched. The British carmaker’s Range Rover SUVs have become a common feature of the upper-middle class lifestyle. How else would one get to brunch and the gym? Yet a decade after ...
Read More »Best Mart 360, HK protest target, sees double digit drop
Bloomberg Snacks chain Best Mart 360 Holdings Ltd has seen revenue drop by double digits as its stores come under attack by radical Hong Kong protesters in the ongoing anti-Beijing movement that’s gripped the city. As protests become increasingly violent, more than 70 of its 102 stores have been vandalised in over 180 instances, chairman Lin Tsz Fung said in ...
Read More »SpiceJet in talks with Boeing to buy more Max jets
Bloomberg Indian low-cost carrier SpiceJet Ltd is in talks with Boeing Co to buy more 737 Max aircraft to feed its expansion plans, a deal that could mark a Dubai Airshow coup for the grounded narrow-body. A sales lull for the Max, idled globally since March, allows SpiceJet to acquire planes at a lower cost, Chairman Ajay Singh said in ...
Read More »Boeing says Latin America needs 2,960 new planes by 2038
Bloomberg The Latin America aviation market will more than double in 20 years as Brazil’s economy recovers and discount carriers boost demand, driving a need for 2,960 new planes, according to Boeing Co. “Low-cost carriers have really been the engine of growth in Latin America,†Darren Hulst, Boeing’s managing director for market analysis & sales support, said in Sao Paulo. ...
Read More »Airbus chief pledges to stay in UK if Brexit goes through
Bloomberg Airbus SE Chief Executive Officer Guillaume Faury said the latest Brexit deal between Britain and European Union should pave the way for the aerospace giant to carry on making plane wings in the UK. The British division, which employs 14,000 people and supports 110,000 supplier jobs, is “very competitive†and will remain a focus for wing production so long ...
Read More »Malaysian KFC operator’s owner considers selling it
Bloomberg QSR Brands (M) Holdings Bhd’s owners are considering a sale of the fast-food operator, which runs KFC and Pizza Hut restaurants in Southeast Asia, after shelving an initial public offering earlier this year, people with knowledge of the matter said. The Malaysian company’s major shareholders, which include private equity firm CVC Capital Partners, are working with an adviser to ...
Read More »Qantas denies American artist’s claims of racism
Bloomberg Qantas Airways Ltd denied that one of its flight attendants discriminated against will.i.am after the co-founder of the Black Eyed Peas tweeted his grievances over an incident involving his laptop. The seven-time Grammy winner tweeted that a flight attendant called the police on him for not stowing away his laptop during a flight to Sydney from Brisbane. The artist, ...
Read More »UAE cabinet okays law to help people facing financial issues
DUBAI / WAM The UAE Cabinet has approved a federal law to regulate cases of insolvency of natural persons, aimed at enhancing the competitiveness of the UAE by ensuring the ease of doing business, creating favourable conditions for individuals facing financial difficulties and protecting those who are unable to pay their debts from going bankrupt. The new law is part ...
Read More »Aramco declares $1.71trn valuation in blockbuster IPO
Bloomberg Saudi Arabia put a valuation on state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion. Aramco will sell 1.5% of its shares on the local stock exchange, the Tadawul. At the lower end of the price range, the offer would fall short of a record, coming in just below the $25 billion raised Alibaba Group Holding Ltd.’s ...
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