Bloomberg During the holiday shopping frenzy that grips America every year, the handbag wars descend upon midtown Manhattan with unbridled fury. Specifically, the largest department store in the country: the Macy’s flagship. The behemoth opens its doors on Thanksgiving afternoon to thousands of shoppers, and the first thing they see are the bags. Employees on the front lines brace for …

Bloomberg Amazon.com Inc. employees in Europe protested warehouse working conditions, some using the slogan “we are not robots”, in another challenge for the world’s biggest online retailer heading into its busiest time of year. Workers in Germany, Spain, and France walked off the job at Amazon fulfillment centres on Black Friday, one of the busiest online shopping days of the …

Dubai / WAM The Dubai Land Department (DLD), the main sponsor of “RecExpo 2018,” has organised the fourth edition of the event in the capital of Azerbaijan, Baku. The three-day event complements the local economy in Azerbaijan and the growing demand for foreign investment. The RecExpo is considered the only international real estate exhibition to be held in Azerbaijan, witnessing …

Emirates Business The Federal Tax Authority (FTA) asserted that the digital system for the tax refunds for tourists scheme has achieved notable success since it came into effect, noting that FTA officials were present at the Abu Dhabi, Dubai, and Sharjah international airports — the ports of entry included in the first phase of the project — to verify that …

Bloomberg Oil notched its biggest weekly loss since the depths of the last price crash, as record Saudi output and a global stock sell-off intensified crude’s free fall. Futures slid below $60 in London and ended the week down about 12 percent, the worst showing since January 2016. Traders focussed on the growing risks of a new glut of crude …

Bloomberg Germany’s industrial southwest, Switzerland and parts of France face a dearth of fuel supplies in the coming weeks just as freezing temperatures threaten to lift demand for heating oil. A prolonged drought this summer has led to record-low water levels on the Rhine river, closing many parts of the key transport artery to barge traffic. With little relief in …

Bloomberg Embattled commodity trader Noble Group Ltd — which is pushing towards the final stages of a complex $3.5 billion debt-for-equity restructuring — reported another quarterly loss, with the result driven by costs from the revamp as well as getting caught out in the LNG market. The energy segment, which consists of liquefied natural gas, coal and oil liquids in …

Bloomberg Power plant developers in Britain are overestimating the need for natural gas-fired generation to back up intermittent renewable energy. The nation needs only 38 percent of the gas capacity it has now to keep the power on, according to a report by New Resource Partners, a consultancy that advises governments and investors on renewables. “Our modelling shows that the …

Bloomberg Porsche AG has an ambitious plan to improve operating profit by 6 billion euros ($6.8 billion) over eight years by streamlining operations as the automaker spends more to develop and manufacture electric cars, according to people with knowledge of the matter. Porsche aims to increase earnings before interest and taxes by about 750 million euros annually over a timeframe …

Bloomberg iDreamSky Technology Holdings Ltd., a Chinese game distributor, has attracted Sony Corp. and JD.com Inc. as cornerstone investors for its planned Hong Kong initial public offering, people with knowledge of the matter said. The Shenzhen-based company plans to start taking investor orders on Monday, the people said, asking not to be identified because the information is private. The firm …