Bloomberg Revolut has hired JPMorgan Chase & Co to raise $1.5 billion in debt and equity, Sky News reported, without saying where it got the information. The US investment bank has been tasked with selling $500 million worth of shares and $1 billion of convertible loans for the UK bank in the coming months, the report said. The loans could ...

Bloomberg Walmart Inc’s Greg Foran, the architect of the revival of its US stores, is departing to run an airline in his native New Zealand, leaving a big hole at the world’s largest retailer on the cusp of the holiday season. John Furner, 45, was named to replace Foran, according to a statement. A close friend of Chief Executive Officer ...

Bloomberg United Airlines Holdings Inc gave up on carrying passengers on Boeing Co’s 737 Max this year, removing the grounded jet from its schedule until January 6. The carrier, which had previously pulled the aircraft until Decmber 19, is cancelling more than 8,000 flights from October through early January as its 14 Max aircraft remain banned from flying. Boeing’s best-selling ...

Bloomberg Boeing Co stripped Chief Executive Officer Dennis Muilenburg of his role as chairman, leaving him little margin for error in his final push to resolve the crisis engulfing the company’s 737 Max jetliner. Separating the CEO and chairman roles will let Muilenburg focus on getting the grounded jet back in the air, Boeing said in a statement. While the ...

Bloomberg Following the collapse of travel company Thomas Cook Group Plc, the UK government plans to change the law to allow failed airlines to keep flying in order to rescue stranded passengers. The tour operator’s bankruptcy last month forced the Civil Aviation Authority to deploy more than 150 planes to bring home 140,000 people, an airlift that cost about twice ...

Bloomberg Hugo Boss AG plunged to a nine-year low after the German suitmaker cut its full-year outlook on weakness in the US and Hong Kong, casting doubt on CEO Mark Langer’s turnaround efforts. The guidance reduction comes two months after the suitmaker previously lowered its outlook, citing weak sales to tourists and pricing pressure in the US Now the anti-Beijing ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Saturday welcomed Hazza Al Mansoori, the UAE’s first astronaut, as he returned to the UAE after eight days in space. Al Mansoori, accompanied by backup astronaut, Sultan Al Neyadi, landed at the Presidential ...

Bloomberg China will at least double its spending on US agriculture as part of a partial trade accord between the two countries that’s likely to be well received by crop traders when markets reopen. Under terms of the arrangement, spending will scale to an annual figure of $40 billion to $50 billion over two years, Treasury Secretary Steven Mnuchin said. ...

RIYADH / WAM An official spokesman for the Saudi General Directorate of Border Guards said that at 11:47 pm on Friday, an e-mail was received from Jeddah Radio containing a letter from the captain of Iranian vessel (Sabiti), reporting that the front of the vessel has been broken, resulting in an oil spill in the sea from the cargo and tanks ...

Abu Dhabi / WAM The visit of Russian President Vladimir Putin to the UAE this Tuesday translates the privileged and steadily growing strategic relations between the two countries, said Maadhad Hareb Al Khaili, the UAE Ambassador to Russia. “The visit will contribute to further consolidating the current strategic partnership between the two sides,” the diplomat told the Emirates News Agency ...