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UPDATE 1-Airbus frontrunner to win big Air Arabia order – sources

DUBAI/PARIS, Nov 13 (Reuters) – Airbus is likely to win an order for at least 100 jets from Air Arabia with an announcement possibly coming as soon as the Dubai Airshow next week, two sources told Reuters. Air Arabia, which has held talks with both Airbus and Boeing and said it would make a decision by January, was expected to select the European planemaker, the two sources said. Airbus declined comment. …read more […]

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ABN Amro Shares Slip as Probe Raises Doubts Over Cost Targets

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.ABN Amro Bank NV fell in Amsterdam trading as profit slipped and a criminal probe prompted the bank to warn of uncertainty.Operating profit missed estimates while an ongoing money laundering investigation raised concerns that the company’s cost-cutting targets could be at risk. The stock fell as much as 6.7%, the most since the probe was announced in September.The Dutch lender is grappling with a criminal investigation by the country’s public prosecutors office over alleged failures to check on clients and report suspicious …read more […]

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OPEC Secretary General says U.S.-China trade deal would remove 'dark cloud' on oil market

OPEC’s Secretary General Mohammad Barkindo said on Wednesday he is confident that the United States and China would reach a trade deal and that it would remove a “dark cloud” over the oil market. It is premature to discuss the December OPEC+ decision and it is too early to say if further output cuts would be needed, Barkindo told reporters on the sidelines of an industry event in Abu Dhabi. OPEC and it’s non-OPEC partners need to continue working together to weather uncertainties and are committed to doing so, he said. …read more […]

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UPDATE 5-'Made in Germany': Tesla sets up shop in Berlin

U.S. electric vehicle pioneer Tesla will build its first European factory and design centre near Berlin to produce cars “Made in Germany” as it seeks to burnish its reputation for reliability and sporting prowess. Tesla Chief Executive Elon Musk made the announcement at a prestigious German car awards ceremony late on Tuesday and said its new plant would make batteries, powertrains and vehicles – starting with its Model Y sports utility vehicle. …read more […]

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Global stocks sink after Trump threatens more China tariffs

Global stocks sank Wednesday after President Donald Trump threatened more tariff hikes on Chinese imports if talks aimed at ending a trade war fail to produce an interim agreement. Market benchmarks in London, Frankfurt, Shanghai and Tokyo declined. Trump said Tuesday that an agreement on the “Phase 1” deal announced last month “could happen soon.” But he warned he was ready to raise tariffs “very substantially” if that fails. …read more […]

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Cathay Pacific cuts profit guidance for second time amid Hong Kong protests

The airline said passenger numbers fell 7% in October and it now expected second-half profit to be “significantly below” the first half’s HK$1.347 billion ($172.04 million), in a step up from the wording “below” used last month. Hong Kong anti-government protesters on Wednesday paralysed parts of the Asian financial hub for a third consecutive day, with some transport links, schools and many businesses closing after an escalation of violence. “Overall we foresee a challenging remainder of 2019 for our airlines,” Cathay Chief Customer and Commercial Officer Ronald Lam said in a statement on Wednesday. …read more […]

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Alibaba poised to launch record-breaking $15 billion Hong Kong share sale – sources

Chinese e-commerce giant Alibaba Group is poised to launch a Hong Kong share sale expected to raise up to $15 billion as soon as Thursday, according to two sources with knowledge of the discussions. While Alibaba executives are preparing for a Thursday launch, sources said the timing could slip depending on developments in Hong Kong’s ongoing protests. The deal – the world’s biggest cross-border secondary listing – will be seen as a boost for Hong Kong, which recently entered its first recession in a decade as more than five months of street protests and worries about the …read more […]