Bloomberg FedEx Corp plunged after cutting its profit forecast for the second straight quarter, as weak international demand hurt sales and the courier ramped up investment to handle soaring e-commerce deliveries. The results for the company’s fiscal second quarter were “breathtakingly bad,” with weakness in both the ground-delivery unit and air-cargo business, said Deutsche Bank AG analyst Amit Mehrotra. Adjusted ...

Bloomberg Hong Kong’s airlines face the prospect of further job cuts and even bankruptcies as anti-Beijing protests continue to deter tourists from the city, adding to the pressure on an industry already facing headwinds globally. Six months of anti-Beijing demonstrations have sent passenger traffic tumbling in Hong Kong, producing a cascade of profit warnings, flight cancellations and cost cuts at ...

Bloomberg American retailers remodel thousands of stores each year, but the process is rarely smooth. Now imagine the headaches for Walmart Inc., which overhauls 500 locations annually on its own. “Things always come up that you can’t plan for,” according to Tara Barnes, a store manager in Allen, Texas, whose location went through a refurbishment this summer. In the past ...

Bloomberg Southwest Airlines Co. won’t schedule any flights on Boeing Co.’s 737 Max jets until April 13 — more than a month later than previously planned — further clouding the outlook for the best-selling aircraft that’s grounded globally after two fatal crashes. The airline, the biggest operator of the single-aisle jet, is extending the timeline from March 6 because of ...

Bloomberg For US airlines, the phrase “Made in America” comes with a whole new financial imperative thanks to the trade fight between the Trump administration and Europe. In October, the White House levied a 10% tariff on European-built aircraft as part of a broader conflict over aviation industry subsidies. The move followed a World Trade Organisation ruling that EU assistance ...

Bloomberg Beyond Meat Inc. is pushing further past its plant-based beef into poultry, and Chief Executive Officer Ethan Brown says that product line will finally get more attention in 2020. “You’ll see some exciting things from us in the poultry space in 2020,” Brown said in an interview with Bloomberg TV about his inclusion on this year’s Bloomberg 50 list. ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, invited the public to take part in selecting the new logo that will represent the ...

Abu Dhabi / WAM The UAE Banks Federation (UBF), culminated another successful year, hosting on Monday its Board of Directors (BoD), and its CEOs Advisory Council meetings, specially after it was announced that the year 2020 will be the “Year of Getting ready for UAE’s 50th Anniversary”, the Golden Jubilee year. The two meetings outlined UBF’s 2020 priorities in line with ...

Dubai / Emirates Business Dubai Land Department (DLD) continuously works through its various sectors to develop services provided by its partners, with the most recent effort being the development of the real estate valuation companies and valuator classification project by the Real Estate Regulatory Agency (RERA), in recognition of the important services they provide to various parties in the real ...

Abu Dhabi / WAM Zaki Nusseibeh, Minister of State, received Liborio Stellino, Italian Ambassador to the UAE, with the attendance of Professor Ida Zilio Grandi, Director-General of the Italian Cultural Institute in Abu Dhabi, at the Ministry of Foreign Affairs and International Cooperation. During the meeting, both sides discussed ways of developing their bilateral relations in the areas of culture ...