Industry Update

PillPack, the Internet pharmacy that Amazon acquired in 2018, has updated its logo and other paperwork to include a new “Amazon Pharmacy” brand, and sources say its CEO has been promoted to vice president within Amazon. Specifically, the group’s branding has changed from “PillPack, an Amazon company” to “PillPack by Amazon Pharmacy.” It’s the first public reference to Amazon Pharmacy, an entity that many analysts expect will eventually do more than mail delivery of medicines through PillPack.

Source: https://www.cnbc.com/2019/11/15/amazon-pharmacy-brand-comes-to-pillpack-ceo-tj-parker-promoted.html

The Mustang Mach-E is a groundbreaking vehicle for Ford Motorthat marks the beginning of a new-generation of all-electric vehicles and the first time the iconic name has been used on anything but a two-door pony car. Ford is betting the Mustang name will resonate with consumers and assist the company’s first all-electric SUV in standing out in an increasingly crowded field. It’s a bold decision that could dilute the Mustang name if unsuccessful. There’s also chance of political backlash since the vehicle is being produced in Mexico and imported to the U.S.

Source: https://www.cnbc.com/2019/11/15/ford-bets-on-mustangs-reputation-with-mexico-made-mach-e-suv.html

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 U.K. 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 as a no-deal split is avoided, Faury said in an interview.

Source: https://www.bloomberg.com/news/articles/2019-11-15/airbus-chief-pledges-to-stay-in-u-k-if-brexit-deal-goes-through

Saudi Arabia needs “over 1 million people” to work in the tourism sector if it hopes to achieve its goal of attracting 100 million visitors by 2030, according to Red Sea Development Company CEO John Pagano. Speaking at the Misk Global Forum in Riyadh on Wednesday, Pagano that volume of workers “doesn’t exist” at the moment. In the case of the Red Sea Project – which is expected to create 70,000 new jobs, the development company has launched scholarships for students to study international hospitality management overseas. The Red Sea Project alone is expected to create 70,000 new jobs in the tourism sector.

Source: https://www.arabianbusiness.com/travel-hospitality/433233-saudi-arabia-needs-1m-workers-in-tourism-sector-says-red-sea-development-co-ceo

A group of Lloyds shareholders have lost a multi-million-pound action against the bank over its purchase of rival HBOS in 2009.The 5,803 former Lloyds TSB shareholders claim they were "mugged" when the bank took over HBOS, which was laden with bad mortgages. Lloyds was forced to accept a £20bn state bailout and the government continued to own a stake until 2017.Lloyds said it welcomed the decision as the best for shareholders as a whole.

Source: https://www.bbc.com/news/business-50431621

The Dubai Government owned master-developer Meraas has struck an alliance with Brookfield Asset Management to jointly own and operate retail destinations in the UAE and elsewhere in the Gulf. Brookfield is one of the biggest names globally in fund management, with interests spanning continents. It has $385 billion in assets. The joint venture - valued at Dh5 billion - will also cover existing real estate assets such as The Beach, City Walk, and La Mer. “We hope this is the start of a fruitful relationship… and make Dubai the world’s leading investment destination whilst driving differentiation and innovation in the retail sector,” said Abdulla Al Habbai, Chairman of Meraas. Meraas has been one of the most active developers in terms of new launches this year, including the City Walk expansion, further additions at La Mer in Jumeirah, and more recently, with the launch of Cherrywoods villas and townhouses on Al Qudra Road.

Source: https://gulfnews.com/business/property/meraas-strikes-joint-venture-with-brookfield-1.66591889

UAE-based retail giant Majid Al Futtaim on Wednesday launched a new app-based lifestyle rewards programme which allows customers to earn and spend points at 2,300 outlets in its 16 shopping malls and 11 hotels. The SHARE rewards programme is designed to encourage people to share more great moments with family and friends through a selection of shopping, dining, leisure and entertainment experiences. The points members collect can not only be used to spoil themselves but also be shared with others. Points can be pooled for the whole family or a group of friends to redeem across any Majid Al Futtaim brand or participating location.

Source: https://www.arabianbusiness.com/retail/428368-uae-retail-giant-launches-new-rewards-programme

Dubai is developing a programme that will allow 10 percent of its homes to be self-sufficient in terms of water, food and energy – mainly with the help of clean solar projects, said a government official. “The achievement of this goal will help change lifestyles and contribute to the preservation of our environment. We aim to create a new economic sector that supports energy, water, and food self-sufficiency," said Saeed Mohammed Al Tayer, vice chairman of the Dubai Supreme Council of Energy and MD and CEO of Dubai Electricity and Water Authority (Dewa). The project, which will see the installation of solar panels in citizens’ homes, will be implemented under the government’s Shams Dubai initiative.

Source: https://www.arabianbusiness.com/energy/428507-dewa-ceo-10-of-dubai-homes-to-be-made-self-sufficient

Walmart has said it will no longer sell e-cigarettes in the US, amid mounting calls to ban the products entirely. The retailer said its decision was due to "uncertainty" about the rules governing e-cigarettes, which US health authorities have linked to more than 500 cases of lung injury. US President Donald Trump last week said the US would prohibit sales of all flavoured e-cigarettes. Two states - New York and Michigan - have already imposed such bans.

Source: https://www.bbc.com/news/business-49776854

The world’s second-largest payment processor is approaching a decade-long run for the company’s stock. Shares of MasterCard are getting a boost, as U.S. consumers embrace the secular shift from cash to card, and more recently card to digital. MasterCard’s stock is up 46% this year, compared to the S&P 500 which is up about 20%. Even more remarkable, the financial company’s stock is up more than 1120% since the start of 2019.

Source: https://www.cnbc.com/2019/09/21/mastercards-stock-rallies-nearly-50percent-boosted-by-strong-consumers.html