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October 18, 2019
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Reuters - Business

Exclusive: No choice but to invest in oil, Shell CEO says

Reuters
LONDON (Reuters) – Royal Dutch Shell (RDSa.L) still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. FILE PHOTO: Ben van Beurden, chief executive of Royal Dutch Shell, attends...
ESPN

Why Sergino Dest should represent Netherlands instead of the U.S.

ESPN
Oct. 2 was quite a day for Sergino Dest. First, Ajax’s 18-year-old Dutch-American right-back was unexpectedly missing from the U.S. men’s roster announced for the upcoming games against Cuba and Canada. These are competitive matches, in the CONCACAF Nations League, so if Dest had played, he would have been bound...
Reuters - Business

H&M’s outlet brand Afound tweaks strategy towards online

Reuters
(This October 8 story has been refiled to clarify in paragraph 3 that Afound sells the H&M group’s brands) FILE PHOTO: H&M-owned multi-brand discount store Afound on the day of the brand’s launch, in Stockholm, Sweden, June 14, 2018. REUTERS/Anna Ringstrom/File Photo STOCKHOLM (Reuters) – Fashion retailer H&M’s newest independent...
Reuters - Business

Delta to buy 20% of LATAM for $1.9 billion in regional shake-up

Reuters
(This September 26 story corrects airline group to SkyTeam alliance instead of the Sky Alliance in paragraph 6) FILE PHOTO: Passengers wait to check in for their flights at the departure area of Latam airlines inside of the Commodore Arturo Merino Benitez International Airport in Santiago, Chile April 25, 2019....
Reuters - Business

Saudi crude loadings fall in September after attacks: trackers

Reuters
LONDON (Reuters) – Saudi Arabia’s crude exports dropped steeply following the Sept. 14 attacks and remain lower month-on-month, according to export figures, a tangible sign that supplies to the market are being curbed even as production recovers. A report from tanker-tracking firm Petro-Logistics, seen by Reuters, said crude exports averaged...
Reuters - Business

Saudi central bank governor says attack on Aramco had no monetary impact

Reuters
KUWAIT (Reuters) – The Sept. 14 attacks on Saudi Aramco facilities had no monetary impact on Saudi Arabia, the kingdom’s central bank governor said in an advance copy of an interview provided by Kuwait’s Al Rai newspaper that will be published on Wednesday. Governor Ahmed al-Kholifey was echoing comments made...
Reuters - Business

Factbox: Countries scramble after Thomas Cook collapse strands travelers

Reuters
(Reuters) – The collapse of British travel operator Thomas Cook (TCG.L) has left hundreds of thousands holidaymakers abroad and forced governments and insurers to coordinate a huge operation to get them home. Thomas Cook passengers queue in front of check-in desks on the second day of repatriations at Reus airport,...
Reuters - Business

Saudi Aramco IPO unlikely to happen this year after oil attacks: sources

Reuters
FILE PHOTO: Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia, September 14, 2019. REUTERS/Stringer/File Photo DUBAI/LONDON/RIYADH (Reuters) – Saudi Arabia is unlikely to list its oil giant Aramco this year after attacks earlier this month on oil facilities, two sources with direct knowledge of...
Reuters - Business

EU will assess court rulings on Starbucks, Fiat tax cases: Vestager

Reuters
FILE PHOTO: European Competition Commissioner Margrethe Vestager addresses a news conference on an antitrust case in Brussels, Belgium July 18, 2019. REUTERS/Yves Herman BRUSSELS (Reuters) – The European Commission will study the rulings of the European Union’s second-highest court on tax disputes with Starbucks (SBUX.O) and Fiat Chrysler Automobiles (FCHA.MI),...
Reuters - Business

Starbucks wins, Fiat loses fights against EU tax orders

Reuters
FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California, U.S. October 19,2018. REUTERS/Mike Blake/File Photo LUXEMBOURG (Reuters) – Starbucks (SBUX.O) won an appeal on Tuesday against an EU demand to pay up to 30 million euros ($33 million) in back taxes to...
Reuters - Business

Strains that sank Thomas Cook weigh on European airlines

Reuters
PARIS (Reuters) – The collapse of travel group Thomas Cook (TCG.L) and a trio of subsidiary airlines, leaving 600,000 holidaymakers stranded, is unlikely to be the last failure among Europe’s struggling second-tier carriers. Passengers are seen at Mallorca Airport after Thomas Cook, the world’s oldest travel firm collapsed stranding hundreds...
Reuters - Business

Budget carrier XL Airways seeks rescue deal with Air France

Reuters
Passengers disembark from an Air France plane at the Paris Charles de Gaulle airport in Roissy, France, June 19, 2019. REUTERS/Philippe Wojazer PARIS (Reuters) – French airline XL Airways has called on Air France (AIRF.PA) to discuss a rescue deal to avert the collapse of the budget carrier that halted...
Reuters - Business

Belgian police search property of KPN’s new CEO over Proximus share sale

Reuters
AMSTERDAM/BRUSSELS (Reuters) – Belgian police searched the home and office of Dominique Leroy, the incoming chief executive of Dutch telecom firm KPN (KPN.AS), to investigate her sale of shares in Proximus (PROX.BR), the company she is leaving. FILE PHOTO: Dominique Leroy, chief executive officer of Belgian telecoms group Proximus, presents...
Reuters - Business

Google to invest 3 billion euros in European data centers

Reuters
FILE PHOTO: A Google sign is seen during the WAIC (World Artificial Intelligence Conference) in Shanghai, China, September 17, 2018. REUTERS/Aly Song/File Photo (Reuters) – Google will make an additional investment of 3 billion euros ($3.3 billion) over the next two years to expand its European data centers, Chief Executive...
Reuters - Business

Apple spars with EU as $14 billion Irish tax dispute drags on

Reuters
LUXEMBOURG (Reuters) – Apple accused the European Commission of misunderstanding its business on day two of the iPhone maker’s appeal against a $14 billion tax order, in a dispute that is key to the EU’s drive to collect more taxes but which could also run for years. FILE PHOTO: CEO...
Reuters - Business

ECB hawks rally against Draghi’s farewell stimulus

Reuters
AMSTERDAM (Reuters) – Conservative policymakers slammed the European Central Bank’s lavish stimulus measures on Friday, voicing doubts about the need and effectiveness of a package that could consume most of the bank’s remaining firepower. Klaas Knot, president of De Nederlandsche Bank NV, speaks at the Group of 20 (G-20) high-level...
Reuters - Business

Draghi’s parting shot leaves next ECB boss with existential dilemma

Reuters
FRANKFURT (Reuters) – Christine Lagarde will face a momentous decision in her first year as European Central Bank President: give up on reviving inflation or give in to the temptation of bankrolling governments with neverending bond purchases. FILE PHOTO: Christine Lagarde, the next president of the European Central Bank, speaks...
Reuters - Business

Draghi ties Lagarde’s hands with promise of indefinite stimulus

Reuters
FRANKFURT (Reuters) – European Central Bank chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing euro zone economy, tying the hands of his successor for years to come and sparking an immediate conflict with U.S. President Donald Trump. European Central Bank (ECB) President Mario Draghi attends a...
Reuters - Business

Post-ECB market rally fades as doubts emerge over stimulus impact

Reuters
LONDON (Reuters) – German bond yields and the euro rebounded on Thursday and European banking shares were whipsawed as doubts crept in about the effectiveness of the ECB’s decision to cut interest rates and pledge an indefinite supply of asset purchases. The ECB cut its deposit rate by 10 basis...

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