Bloomberg For the second time this year, Macy’s Inc. is switching up its approach to China as it struggles to get its presence in the world’s most populous market right. Macy’s is shuttering its online store on Tmall, the platform for China’s biggest e-commerce company, Alibaba Group Holding Ltd. Macy’s will now ship to Chinese consumers directly from its US …

Bloomberg Lufthansa AG has billed a cabin-crew union for pay it says some staff received when they were actually working for the labour group, marking the latest in a series of spats with employee representatives. The people were paid at various times between 2015 and 2018 when they were engaged with the UFO union rather than flying, Lufthansa said in …

Bloomberg Virgin Atlantic Airways Ltd. looked seriously at establishing its own low-cost carrier before scrapping the plan amid concern that the move might dilute its brand. The UK airline worked on the project for some months but ultimately opted to split its economy class into three price grades to better attract cost-conscious travelers, Chief Executive Officer Craig Kreeger said. Like …

Bloomberg Oil in New York jumped after the Organization of Petroleum Exporting Countries (Opec) and allied crude exporters surprised traders with a larger-than-expected output reduction. Futures advanced more than 2 percent in New York and London. The Opec and aligned nations will collectively curb production by 1.2 million barrels a day, 20 percent more than previously discussed. “It’s been a …

HELSINKI / WAM The Ministry of Economy (MOE) organised a joint UAE-Finland Business For-um on the sidelines of the country’s economic and trade delegation participation in Slush 2018 — world’s leading startup event — in Finnish capital of Helsinki. Noura Mohammed Juma, UAE Ambassador to Finland, and a number of officials from the Ministry of Economy, representatives of the federal …

Bloomberg China’s trade surplus with the US hit a record in November, even as overall export growth slowed amid waning global demand and uncertainty about a constructive resolution to the trade war. The trade surplus with the US was almost $35.6 billion, driven by a 9.8 percent rise in exports compared with the same period last year and a 25 …

Bloomberg The world’s largest solar panel maker is selling a great deal more overseas to keep its domestic industry afloat. China’s exports in the third quarter soared 66 percent from a year ago after the government’s decision to cut support for the local solar power industry dented domestic demand. Shipments to Australia more than doubled and tripled to Mexico, making …

Bloomberg Xcel Energy Inc Chief Executive Officer Ben Fowke said keeping nuclear power plants open is key for the utility to meet its goal to slash greenhouse gases. The company, which pledged to cut carbon dioxide emissions 80 percent by 2030 and 100 percent by 2050, operates two reactors in Minnesota that will become increasingly vital as wind and solar …

Bloomberg Retailers have been trying for years to escape the clutches of the credit-card companies, which this year will levy more than $90 billion in swipe fees on an industry already struggling to navigate the shift online. Some believe the answer lies in payment apps. While shoppers have largely shunned mobile payments offered by third-party providers like Apple Inc., retailers …

Bloomberg Skip Transport, one of two companies that won licenses to rent scooters on the streets of San Francisco, received $100 million in debt and is seeking more funding from investors, said three people familiar with the matter. While it explores an equity deal, Skip plans to use the debt on a project to design and build scooters that would …