Bloomberg Retail sales growth in the US is expected to slow down in 2019 amid cooling economic conditions, according to the National Retail Federation, an industry trade group. Americans will boost retail spending by 3.8 percent to 4.4 percent this year, the NRF said. For comparison, preliminary estimates show that sales rose 4.6 percent in 2018, according to the group. ...

Bloomberg Fullbeauty Brands Inc., the women’s plus-size retailer, set a record for the fastest US corporate bankruptcy after taking less than 24 hours to win court approval for its plan to restructure the company. The company had support from all its stakeholders when it filed for Chapter 11 status in the US Bankruptcy Court in White Plains, New York. Fullbeauty, ...

ABU DHABI / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), Supreme Chairwoman of the Family Development Foundation (FDF) and President of the Supreme Council for Motherhood and Childhood, stressed that the UAE is a nation of tolerance and peace whose foundations were laid by the late Sheikh Zayed bin Sultan Al Nahyan, and the ...

DUBAI / WAM Aramex, the leading global provider of comprehensive logistics and transportation solutions, on Tuesday announced its financial results for the fourth quarter and full year ending on December 31, 2018. The 2018 full year revenue increased by 8% to AED5,086 million, compared to AED 4,721 million in FY 2017. Aramex’s net profit in 2018 increased by 13% to ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced that it has secured a syndicated loan of AED1.5 billion through a group of local, regional and international banks to finance its new projects. The loan will be used to expand the capacity and district cooling infrastructure in various projects.

Bloomberg BP Plc joined its Big Oil peers by giving investors a positive surprise, exceeding profit estimates and earning better returns than its closest European rival. Shares surged by the most in almost three years. New projects delivered an increase in oil and gas output, while the company also worked its existing fields and refineries more efficiently than ever. That ...

Bloomberg French oil giant Total SA is working with advisers as it weighs an offer for Eneco Groep NV, joining a number of financial and industry bidders for the Dutch utility, including rival Royal Dutch Shell Plc, people familiar with the matter said. The firm, which is owned by dozens of Dutch municipalities and is due to be auctioned this ...

Bloomberg The three largest automakers in US suspended some operations on the coldest day of the year after a fire at a Southeast Michigan natural gas facility drastically reduced their supply of the heating fuel. Energy prices soared as freezing weather spread into the Northeast and closed a nuclear reactor in New Jersey. CMS Energy Corp.’s Consumers Energy utility sends ...

Bloomberg Amazon.com and Walmart Inc.’s plans to dominate India’s online retail landscape have been ambushed by Prime Minister Narendra Modi’s political priorities heading into a tightening election. The vote, which must be held by May, has increased the influence of local retailers that lobbied for growth-crimping curbs on the US giants. On cue, India this month rolled out constraints on ...

Bloomberg Australian retail sales suffered the biggest drop in 12 months and imports slumped by the most in almost seven years, raising doubts about the resilience of household spending. Sales fell 0.4 percent in December, compared with estimates for an unchanged reading, statistics bureau data showed on Tuesday. Imports dropped 6 percent in the month, the worst result since February ...