Business


Cathay Pacific spells own name wrong on side of plane Cathay Pacific spells own name wrong on side of plane
- September 23, 2018

M - A major airline had to send a plane "back to the shop" after spelling its own name wrong, Sky News reports. The aircraft was seen by passengers at Hong Kong International Airport who alerted the airline. Cathay Pacific wrote: "Oops this special livery won't last long!" And an engineer for Haeco, a Cathay Pacific sister company, suggested it could have been deliberate, telling the paper: "The spacing is too on-point for a mishap". (more...)
Comcast beats Fox in Sky auction with $US39b bid Comcast beats Fox in Sky auction with $US39b bid
- September 23, 2018

Since Murdoch's Fox first tabled a £10.75 offer in December 2016, Sky shares have more than doubled, and have risen 56 per cent since the start of the year. "In our view, Disney will become a much more complicated company for the Street to analyze upon closure of the Fox transaction, but becoming a de-factor joint venture partner on Sky with Comcast complicates the situation even further, in our opinion". (more...)
Emirates said to be exploring takeover of struggling Etihad Emirates said to be exploring takeover of struggling Etihad
- September 23, 2018

A combination of the airlines would provide further evidence of the sheikdoms consolidating businesses to boost competitiveness. Emirates chairman Sheikh Ahmed bin Saeed Al Maktoum and its president Sir Tim Clark have previously denied reports of any merger talks between the two carriers. (more...)
Sky bid tussle to be settled by auction Sky bid tussle to be settled by auction
- September 23, 2018

In the opening round, the would-be buyer with the lower offer now on the table - meaning Fox at this point - makes the first bid. Since Fox made its first bid almost two years ago, it has agreed to sell a major chunk of its business - including the existing 39% Sky stake - to U.S. (more...)
USA markets hit new record high USA markets hit new record high
- September 22, 2018

Nike climbed 1.1 percent after brokerage Susquehanna highlighted the company's improving sales of footwear. Chipmakers Intel (INTC.O) and Micron (MU.O) rose 1.1 percent and 3.6 percent. Technology companies led the Nasdaq higher, along with the S&P 500 , which also hit a new closing high. The Nasdaq composite climbed 78 points, or 1 percent, to 8,028. (more...)
Hundreds queue as Tesco opens first Jack´s discount stores Hundreds queue as Tesco opens first Jack´s discount stores
- September 22, 2018

With the new chain, Tesco has to walk a fine line, challenging the discounters while avoiding cannibalisation of its main store brand with lower prices . Competition at the top of the United Kingdom supermarket sector has continued to intensify since the initial price wars to attract customers and protect market shares in the stampede to the discounters. (more...)
New Audi e-tron takes fight to Tesla New Audi e-tron takes fight to Tesla
- September 22, 2018

Audi is still testing the e-tron's range between charges but says that it will be at least 248 miles under the latest WLTP "real world" testing cycle. Amazon will deliver the hardware and hire electricians to install them through its Amazon Home Services operation. Tesla has developed its own network of Supercharger charging stations with more than 11,000 chargers in North America. (more...)
Barclays online and mobile banking DOWN locking customers out of accounts Barclays online and mobile banking DOWN locking customers out of accounts
- September 22, 2018

This morning a spokesman for the taxpayer-backed lender said that it had resolved the problems and that all its online services were back up and running as normal. The manager was trying to placate customers and couldn't advise when they would be back online. Customers hit out at the banks on Twitter, with one saying: "Natwest app down again". (more...)
New Delhi to Pay for Iranian Oil With Rupees
- September 22, 2018

The sources said India has selected UCO Bank and IDBI Bank for facilitating payment to Iran. India is yet to take a call on complying with the US sanctions on Iran. UCO Bank and IDBI Bank have been identified to route the payment as the two have no exposure to the U.S. financial system. Chennai Petroleum , a subsidiary of the country's biggest refiner Indian Oil Corp (IOC), has a deal to buy up to 2 million tons, or 40,000 bpd, of oil from Iran in the fiscal year 2018/19. (more...)
Walmart warns Trump tariffs may force price hikes Walmart warns Trump tariffs may force price hikes
- September 22, 2018

Several chains asked the White House not to implement the added tariffs on $200 billion in goods. Ma's statement comes on the heels of the Trump administration imposing tariffs on $200 billion worth of imports from China and the Chinese reacting with tariffs on about $60 billion worth of USA goods. (more...)
Latest with these Supermarket Giants - Woolworths and Coles raise the milk prices Latest with these Supermarket Giants - Woolworths and Coles raise the milk prices
- September 22, 2018

Following in Woolworths' footsteps, Coles later confirmed it too would add a 10 cent per litre levy, with prices increasing from Thursday until the end of the year. On Thursday he applauded Woolworths' move. "There's no doubt many dairy farmers are doing it tough in the face of the drought and we're keen to support them through this hard time", Paul Harker, Woolworths Director of Fresh Food, said. (more...)
Alibaba Cloud's City Brain solution improves urban management in Hangzhou - USA Alibaba Cloud's City Brain solution improves urban management in Hangzhou - USA
- September 22, 2018

Separately, Ma had warned China's business and political leaders that the trade war between China and the USA could last 20 years, longer than Mr. Trump's presidency, according to Bloomberg News. Ma will be succeeded by CEO Daniel Zhang, an 11-year veteran of the company. Ma, the cofounder of Alibaba, announced in early September that he would step down from his role as chairman at the end of the year to focus on philanthropy. (more...)
Tesla Model 3 gets five star rating in NHTSA crash tests Tesla Model 3 gets five star rating in NHTSA crash tests
- September 21, 2018

In late September, the EV maker got more good news - this time, from federal safety regulators. A Model 3 involved in a head-on collision at 60 miles per hour earlier this year also resulted in the driver walking away with just a swollen ankle. (more...)
Tilray dethrones Canopy Growth as the most valuable marijuana stock Tilray dethrones Canopy Growth as the most valuable marijuana stock
- September 21, 2018

Trading was halted several times because of that volatility. He said the investors buying these stocks at their current prices are already betting on enormous successes, but even if legal marijuana takes off, some of the companies will fail. (more...)
Oil Prices Mixed as Trump Blasts OPEC
- September 21, 2018

Trump has earlier called for members of the Organisation of the Petroleum Exporting Countries - primarily cartel kingpin and United States ally Saudi Arabia - to raise their production, and warned importers to stop buying oil from Iran or face U.S. (more...)
Ripple's xRapid Commercial App Ripple's xRapid Commercial App "Could Go Live Next Month"
- September 21, 2018

It is usually not now possible to buy alternative cryptocurrencies such as XRP directly using U.S. dollars. While speaking to CNBC , the executive said he was confident that in the next month or so , supporters should expect good news as the company prepares to launch live production of xRapid . (more...)
Major Australian chain temporarily stops selling needles amid strawberry scare Major Australian chain temporarily stops selling needles amid strawberry scare
- September 21, 2018

Imported Australian strawberries are undergoing thorough checks at the country's entry points following the discovery of sewing needles in the fruit. Home Affairs Minister Peter Dutton also revealed there have now been more than 100 reports of contaminated fruit. (more...)
Liberal MP crosses the floor to join Conservative caucus Liberal MP crosses the floor to join Conservative caucus
- September 21, 2018

The defection was the first from the Liberal ranks since Trudeau took power after an October 2015 election, when Alleslev overturned a large Conservative majority in her parliamentary constituency to win by around 1,100 votes. "We see fundamental shifts in the global economy, while trade relationships, worldwide agreements and defence structures are under threat". Conservative Leader Andrew Scheer welcomed former Liberal MP Leona Alleslev to his party on Monday, announcing she would be ... (more...)
Is the United Kingdom finally close to agreeing a Brexit deal? Is the United Kingdom finally close to agreeing a Brexit deal?
- September 21, 2018

President of European Council Donald Tusk (left) and the President of the European Commission Jean-Claude Juncker. Today's commentary does not suggest that there has been a material downgrade in the prospect of an agreement being reached, because, as UK Prime Minister Theresa May said earlier, there will not be a second referendum as things now stand; the UK will Brexit, it just depends if it's the "soft" or "hard" variety. (more...)
All 27 European Union leaders believe current Brexit trade plan All 27 European Union leaders believe current Brexit trade plan "will not work"
- September 20, 2018

He said Brexit "demonstrated that those who explain that one can get by easily without Europe - that it will all go well, that it is easy and brings in a lot of money - are liars". Given that she is more than aware of the pressure she's under to change policy, there has to be some reason for not buckling. "This does make things more hard". (more...)
Japan's oil refiners temporarily halt Iranian loadings on sanctions threat: PAJ Japan's oil refiners temporarily halt Iranian loadings on sanctions threat: PAJ
- September 20, 2018

The refiners in question - Indian Oil Corp, Nayara Energy and Mangalore Refinery and Petrochemicals - will route payments through UCO Bank and IDBI Bank , which have domestic branches in Iran and don't have any exposure to the US. India risks being cut off from the United States financial system if it continues to maintain financial transactions with Iran without a waiver. The rupee can be used by Iran to pay for imports from India. (more...)
European Union warns Britain it must 'rework' Brexit plans European Union warns Britain it must 'rework' Brexit plans
- September 20, 2018

This evening I will call on leaders to stop the migration blame game. Maltese prime minister Joseph Muscat has said there is "almost unanimous" support among EU leaders for Britain to hold a second referendum on membership of the union. On Tuesday, the EU's Brexit chief negotiator Michel Barnier said the bloc was ready to improve its proposal for an "insurance policy" backstop arrangement on how to manage the Irish border after Brexit. (more...)
Low cabin pressure causes nosebleed, Jet Airways flight returns to Mumbai Low cabin pressure causes nosebleed, Jet Airways flight returns to Mumbai
- September 20, 2018

The carrier is among those struggling to make money in the Indian market, where competition has driven fares below cost. "Some of us experienced nose bleeding and headache", Darshak Hathi, a passenger said. It went on to add that the plane landed normally as guests " deplaned safely " and taken to terminal. After the flight's all three Instrument Landing System (ILS) receivers on board malfunctioned, the pilot says, "They are stuck, and there is no fuel". (more...)
Amazon considering opening up to 3,000 cashierless stores by 2021- Bbg Amazon considering opening up to 3,000 cashierless stores by 2021- Bbg
- September 20, 2018

The cashierless shops allow customers to load up on snacks and walk out without the hassle of standing in line as the store sends a bill later.While Seattle and Chicago are already living the dream, Amazon is now considering a plan to open upwards of 3,000 cashierless stores over the course of the next few years, according to AdAge . (more...)
Jack Ma warns that trade war will drag on for decades
- September 20, 2018

The Alibaba ( BABA ) chief grabbed attention at the start of a year ago when he made the ambitious jobs pledge following a meeting with Donald Trump , who was president elect at the time. Ma said a lot of businesses in China and the USA will be in trouble in the short term, and eventually, Chinese firms will be forced to turn to other countries, CNN reported. (more...)
President Trump to visit Cherry Point as part of Florence tour
- September 20, 2018

We will never leave your side. "We want to make sure everyone has adequate time to evacuate if these waters continue to rise and crest at the forecasted levels", he said . "Is everybody OK?" he asked those gathered, assuring them it was "going to be OK". "We're getting all teed up for a lot of money to come down to the area". (more...)
Coca-Cola considering cannabis beverages Coca-Cola considering cannabis beverages
- September 20, 2018

Reports from Bloomberg indicate that Atlanta-based Coca-Cola may be looking at getting into cannabis-based beverages, but the beverage giant denied those reports in a statement released Monday. Last month Canopy shook up the industry after USA alcohol giant Constellation Brands invested another $5 billion in the pot producer for a almost 40 per cent stake. (more...)
Cathay Pacific spells its own name incorrectly on new plane Cathay Pacific spells its own name incorrectly on new plane
- September 20, 2018

The airline appears to have taken the typo in stride, writing on social media: "Oops this special livery won't last long!" Republishing the photos from the Hong Kong Aviation Discussion Board (HKADB) on the airline's Twitter page, Cathay Pacific wrote: "Oops this special livery won't last long!" The airline said it was a genuine mistake, although some in the industry said it was inexplicable. (more...)
Oil prices edge up as supply concerns outweigh U.S. stockpile gains Oil prices edge up as supply concerns outweigh U.S. stockpile gains
- September 19, 2018

USA crude futures CLc1 settled up $1.27, or 1.8 percent, at $71.12 a barrel. "I think that is going to remain the theme for the next six weeks until the next round of USA sanctions against Iran kick off". Stockpiles of distillate fuels, which include diesel and heating oil, rose by 1.5 million barrels, the API data showed, compared with expectations for a 651,000-barrel gain. (more...)
Amazon makes headway in breaking up Facebook and Google's digital ad duopoly Amazon makes headway in breaking up Facebook and Google's digital ad duopoly
- September 19, 2018

Meanwhile, Facebook and Google together will have about 58% market share this year. The research firm, in a report released September 19, forecast Amazon U.S.ad revenue to more than double this year, to $4.61 billion. "We're seeing a broader appeal to advertisers than we might have expected", she said. "We have hundreds of thousands of emerging and established advertisers". (more...)

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