Bloomberg British Airways proposed a pay deal for its flight attendants that would guarantee 80% of current basic salaries while limiting the need for mass job cuts amid the Covid-19 pandemic. The carrier would also reduce expenses by targeting the variable allowance component of cabin-crew pay, according to a letter to staff seen by Bloomberg News. The company said the …

Bloomberg Kanye West is going to make Gap cool again. At least, that’s what investors hope. The struggling apparel company’s shares soared the most in at least 40 years after it revealed a partnership agreement with the head-turning rapper and designer. West, whose sneaker line with Adidas AG routinely sells out, will work with Gap Inc on a new line …

Bloomberg Bain Capital LP agreed to buy collapsed airline Virgin Australia Holdings Ltd in one of the biggest single bets on the industry since it was shattered by the coronavirus pandemic. Administrator Deloitte named Bain as the airline’s new owner, hours after rival buyout firm Cyrus Capital Partners LP withdrew its bid. The value of the deal wasn’t disclosed, though …

Bloomberg Nike Inc, which touted its ability to navigate the pandemic earlier this year, is finding it’s not so easy. The world’s biggest athletic brand posted a surprise loss and disappointing sales in the fiscal fourth quarter, a sign that shuttered retail stores across the US and much of the world took an even bigger toll than expected. Revenue declined …

Bloomberg Mr Price Group Ltd is closing its Nigerian business after volatility in the West African market and as the retailer favors a stronger focus on its home market of South Africa. The specialist in mid-range clothing, sports goods and homeware has already shuttered four of its five Nigerian stores and expects to close the last one in the coming …

Bloomberg Vertical agriculture company Plenty Inc. has an unusual selling point: Its crops of arugula, kale and microgreens are grown in an indoor farm run by robots. That hasn’t always been a winning proposition. Two years ago, the company had to scale back an ambitious international expansion plan, realising it wasn’t ready to bear the cost of pricey new markets …

Bloomberg When news broke last month that Amazon.com Inc. was interested in buying Zoox Inc., observers assumed the e-commerce giant was looking to automate its delivery fleet. After all, Amazon already invested in an electric truck maker and is a major buyer of everything from planes to diesel vehicles. But in a statement confirming its acquisition of the autonomous vehicle …

Bloomberg Microsoft Corp. said it will close its physical store locations permanently but will continue to invest in a digital storefront that, along with third-party retailers, has driven sales of products such as the Xbox game player and Surface tablets. The move will result in a pretax charge of about $450 million, or 5 cents a share, in the current …

Bloomberg Consumers around the world will soon be able to know intricate life details of salmon they eat with a new blockchain initiative from top exporter Norway. The Norwegian Seafood Association has partnered with International Business Machines Corp. and technology provider Atea ASA to gather data on how salmon is bred, stored and shipped, information that consumers will eventually access …

Bloomberg Oil extended declines after swelling US crude stockpiles and a surge in coronavirus cases across the nation raised concerns about demand in the world’s largest economy. Futures in New York slipped 2.3% towards $37 a barrel, after the biggest fall in almost two weeks in the previous session. The fear of new lockdowns sent US gasoline futures tumbling by …