Bloomberg Steinhoff International Holdings NV, the South African retailer laid low by an accounting scandal, is selling one of its more high-flying assets as it seeks liquidity to keep itself alive. The owner of UK discounter Poundland and bedding supplier Mattress Firm in the US is in discussions with a potential buyer of a 2006 Gulfstream G550 private jet that’s ...

Bloomberg British Airways owner IAG SA’s Irish and Spanish businesses spurred gains in passenger traffic at the company last year as expansion at the UK arm slowed. Dublin-based Aer Lingus, purchased by IAG in 2015, posted a 12 percent traffic increase, while the advance at Madrid-based Iberia accelerated to 7.6 percent, according to a statement from the group. London-based IAG, ...

Bloomberg A wave of cancelled flights is moving north to New York and Boston as the first major winter storm of 2018 threatens to paralyse cities and airports over the next couple of days. Airlines have scrapped more than 2,100 flights on January 4 so far on top of 558 on January 3, according to FlightAware, an online tracking service. ...

Bloomberg A safety overhaul of China’s notorious baby-formula industry removed about 1,400 products from store shelves this week, clearing the way for international brands such as Nestle SA and Danone to grab greater shares of a $20 billion market. The regulations, effective from January 1, require factories making formula to register those products with China’s Food and Drug Administration (FDA) ...

Bloomberg Alphabet Inc.’s Google moved 15.9 billion euros ($19.2 billion) to a Bermuda shell company in 2016, regulatory filings in the Netherlands show — saving the company billions of dollars in taxes that year. Google uses two structures, known as a “Double Irish” and a “Dutch Sandwich,” to shield the majority of its international profits from taxation. The setup involves ...

Bloomberg The dollar snapped its longest losing streak since September and US stocks climbed to record highs for a second consecutive day ahead of the release of minutes from the Federal Reserve’s December policy meeting. The Standard & Poor’s 500 Index rose past 2,700 for the first time, while the Nasdaq Composite Index also reached a record as a report ...

Reuters Most major Gulf stock markets rose on Wednesday as some buyers returned from New Year holidays, and shares in Dubai’s blue chip Emaar group rebounded for a second straight day. Egypt lagged, however, led lower by a few blue chips. Dubai’s index added 1.4 percent to 3,459 points in rising volume as Emaar Properties gained a further 2.9 percent. ...

Bloomberg Europe’s set to be stuck with a higher oil bill as Russia shifts more of its supply to the Chinese oil market. As the world’s second-biggest economy buys more, crude shipments from the Baltic Sea port of Primorsk will be cut, according to industry consultant FGE. The reduction will push up the price of varieties available for sale to ...

Bloomberg America’s power grid is starting to show signs of fatigue as the nation grapples with a record-breaking cold snap. Some power plants in New England that have been burning oil are running short on fuel, according to Marcia Blomberg, a spokeswoman for ISO New England Inc., the region’s grid operator. Restrictions governing air emissions are also a factor limiting ...

Bloomberg A little-known New Jersey firm that, as recently as 2011, specialized in renewable energy projects just became the latest to join the blockchain and cryptocurrency craze. The penny stock TGI Solar Power Group Inc. said in a statement that it planned to get involved in the “Blockchain and Crypto hot commodity market.” The news sent TGI’s shares more than ...