Month: October 2019

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Southeast Asia's mobile payments face shakeout as market booms

October 17, 2019 admin Comments Off on Southeast Asia's mobile payments face shakeout as market booms

HO CHI MINH CITY/HONG KONG/SINGAPORE (Reuters) – Just next to Ho Chi Minh City’s financial district, two dozen street vendors’ stalls display colorful adverts for e-wallets backed by private equity firm Warburg Pincus, ride-hailing firm Grab and Singapore sovereign wealth fund GIC, among others. Between them, the stalls – selling everything from crab soup to Vietnamese Banh My sandwiches – accept payment from most of Vietnam’s 28 different e-wallets, which also allow users to make cash transfers through their mobile phones. The wallets, which hope to take advantage of Vietnam’s plan to become a cashless economy by 2027, …read more […]

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UPDATE 1-Kinder Morgan to have all Elba Island LNG units in service by mid-2020 -CEO

October 17, 2019 admin Comments Off on UPDATE 1-Kinder Morgan to have all Elba Island LNG units in service by mid-2020 -CEO

Kinder Morgan Inc expects to bring the remaining nine units of its liquefied natural gas (LNG) export facility at Elba Island into service by the first half of next year, Chief Executive Officer Steven Kean said on Wednesday. The first unit of Kinder Morgan’s Elba Island facility began producing LNG natural gas for export last month, and is one of several new U.S. projects adding to global supplies. The company expects to end 2019 with adjusted pre-tax earnings 3% below its budget, with the delays contributing to the variance, Chief Financial Officer David Michaels said. …read more […]

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A Railroad's Earnings Win Isn't an All-Clear

October 17, 2019 admin Comments Off on A Railroad's Earnings Win Isn't an All-Clear

(Bloomberg Opinion) — CSX Corp.’s results were better than many feared they would be, but they came at the expense of several hundred jobs.The railroad on Wednesday said third-quarter revenue declined 5% as the the uncertainty wrought by the trade war and a slump in coal shipments weighed on cargo volumes. Even so, CSX’s earnings per share for the period beat analysts’ estimates and its operating ratio – a measure of profitability in which a lower number is better – fell to 56.8%, compared with 58.7% a year earlier and 57.4% in the second quarter. That reflected in part a …read more […]