Bloomberg Lloyd Blankfein will probably step down as Goldman Sachs Group Inc.’s chief executive officer in December, the New York Times reported, citing people familiar with the firm’s plans. David M. Solomon, who was named president in March, will take the top spot, the newspaper said. While Blankfein is likely to depart around the time of the bank’s annual dinner ...

Bloomberg Investors are punishing markets where policy makers haven’t done enough to stem deteriorating current-account balances, ballooning inflation and a run on their currencies. They became unforgiving as rising Treasury yields and a stronger dollar put the case for riskier investments in the balance. Money is no longer cheap or plentiful, and low-quality investments burdened by policy baggage are being ...

Bloomberg Grupo Aeromexico SAB, Mexico’s largest airline, is trimming its expansion plans as a seating glut drags down fares. Capacity will expand 7 percent the rest of this year, said Chief Executive Officer Andres Conesa. That’s down from a previous forecast of about 9 percent, he said, citing the need for increased discipline as rising fuel prices add to earnings ...

Bloomberg Jet Airways India Ltd. will offer the first ever direct flights from Mumbai to northern England with services to Manchester starting in November. The carrier will initially connect the cities four times a week using 254-seat Airbus SE A330-200s, with a daily service planned with the start of next year’s summer schedule in March, it said. Jet currently serves ...

Bloomberg South African Airways said executives will meet National Treasury officials every two weeks to address urgent funding needs after the embattled national airline reported a seventh consecutive year of losses — and the worst since 2015. The carrier’s precarious balance sheet is among the most urgent tasks on the to-do list of Finance Minister Nhlanhla Nene, who is already ...

Bloomberg JetBlue Airways Corp. is promoting Joanna Geraghty to president, tasking her with running day-to-day operations while freeing up Chief Executive Officer Robin Hayes to focus on long-term planning. Geraghty, 45, will also oversee the airline’s commercial team, JetBlue said in a statement. Hayes, 51, will manage efforts to improve profit margins and the company’s expansion into related travel and ...

Bloomberg At Zara’s new flagship store in London, shoppers can swipe garments along a floor-to-ceiling mirror to see a hologram-style image of what they’d look like as part of a full outfit. Robot arms get garments into shoppers’ hands at online-order collection points. iPad-wielding assistants also help customers in the store order their sizes online, so they can pick them ...

GENEVA / WAM The UAE participated in the 2nd edition of the AI for Good Global Summit, which was organised by ITU in Geneva, in partnership with other UN organisations. Addressing the three-day event, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, spoke about the UAE’s role in leading the international drive for AI governance to serve ...

Abu Dhabi / WAM The Abu Dhabi City Municipality has called upon property developers to expedite the registration of their real estate development projects under the Real Estate Regulatory Law No. 3/2015. A statement to this effect was made during a meeting with escrow account managers and developers and licensing of property units team at the Municipality. Attendees of the ...

Bloomberg Crude in London posted the longest stretch of weekly gains since 2011 in a market seen as being increasingly balanced as a result of OPEC’s produ-ction cuts. Both Brent and West Texas Intermediate crude slipped, paring weekly gains. Global prices have been supported this week by concerns over US sanctions against Iran, shrinking stockpiles and production shortfalls in Venezuela. ...