Bloomberg A venture of Megawide Construction Corp. and GMR Infrastructure Ltd. submitted a $3 billion proposal to upgrade and expand the Philippine capital’s 70-year-old airport, challenging a $6.7 billion bid from a group that includes billionaires John Gokongwei and Lucio Tan. The GMR-Megawide venture, which is operating and expanding another airport in central Philippines, said it can increase the airfield ...

Bloomberg Airbus SE may need to stock up on the parts it needs to build wings at its UK plants to avoid the risk of delays to deliveries once Britain formally leaves the European Union. The European planemaker has warned that it can only ensure the UK factories remain untouched if its operations retain the same level of efficiency. “If ...

Bloomberg Amazon.com Inc.’s data services division is recruiting for several positions in Argentina, signalling the online retailer is expanding its presence in Latin America beyond Mexico and Brazil. The Seattle-based company is advertising for eight full-time positions for its Amazon Web Services cloud-computing business. The job postings on Amazon’s company website include a senior consultant on migration, sales account managers ...

Bloomberg After the strongest holiday-shopping season in more than a decade, investors have grown increasingly impatient with retailers that didn’t enjoy the good fortune. Shares of J.C. Penney Co. and Foot Locker Inc. tumbled in the wake of lukewarm results during the fourth quarter, which included the crucial Christmas season. The chains both posted weaker-than-expected comparable sales, a key benchmark. ...

BARCELONA/ WAM Etisalat received ‘The Most Valuable Telecoms Brand’ in the Middle East and North Africa Region presented by Brand Finance, marking the company’s increase in brand value by 40 percent to $7.7billion, higher than any other telecom brand in the region and the only telecom provider to break the $7bn brand value mark in the region. Etisalat is the ...

Bloomberg US stocks gave up earlier gains and turned lower as oil tumbled following a government report showed expanding inventories and production in what will soon be the world’s largest source of crude. Treasuries climbed with the dollar. “We’re kind of at an inflection point with oil,” said Tom Anderson, chief investment officer of Boston Private Wealth. “It’s hard to ...

Bloomberg The pound fell to a two-week low against the dollar and UK government bonds rose as the European Union’s chief negotiator warned a Brexit transition period for the UK was not guaranteed. Sterling slipped versus all of its Group-of-10 peers after Michel Barnier’s comments, which followed the publication of the EU’s draft Brexit treaty that saw the bloc ignore ...

Bloomberg Londoners this morning woke up to the rare sight of the city blanketed in snow as the icy blast from Siberia that’s causing havoc across Europe will linger for at least this week. Temperatures across Europe have plummeted and forecasters predict they will remain as much as 8 Celsius below average (14.4 Fahrenheit) in Britain through the weekend. UK ...

BEIJING / Reuters At least 10 of China’s domestic liquefied natural gas (LNG) plants have resumed output in the past week after the government cut off their supply, providing the first signs that the country’s gas supply crunch is starting to ease, company sources said. The return of the plants, which liquefy domestically produced gas that is then trucked to ...

Bloomberg Oil is poised for its first monthly decline in half a year as January’s rally fades on growing fears over booming US shale supply. Futures in New York were little changed, putting them on course for a 2.8 percent drop in February. An industry report was said to show US oil inventories rose last week, which would be the ...