Bloomberg Michael Kors Holdings Ltd.’s strategy to entice shoppers and get them to pay more for its luxury apparel and handbags is showing some signs of success. Profit and sales in the quarter that ended in July exceeded analysts’ estimates, driving the shares up as much as 14 percent in early trading. The fashion house has been refreshing designs and ...

Bloomberg Frontier recently jolted the US airline industry by issuing a press release that brimmed with boldness. Given the implications of the scrappy carrier’s news, the superlatives were arguably a harbinger of war. A fare war, to be exact. The ultra low-cost carrier (ULCC) that sports wild animals on its tails plans to double its footprint by next summer, adding ...

DUBAI / Reuters Saudi Arabia will cut crude oil allocations to its customers worldwide in September by at least 520,000 barrels per day, an industry source said on Tuesday, as the top oil exporter makes good on its pledge to help rein in a global supply glut. State oil giant Saudi Aramco will cut supplies to most buyers in Asia ...

Bloomberg Egypt is opening the door to private participation in its natural gas sector, moving to end the state’s monopoly as it pushes ahead with reforms meant to encourage investment and revive the economy. The new law signed by President Abdel-Fattah El-Sisi sets up a natural gas regulatory authority charged with licensing and devising a plan to open the gas ...

Bloomberg Centrica Plc, Britain’s biggest supplier of power and natural gas, wants the nation to retain influence on European Union energy policy after Brexit because the country’s prices will be set by neighboring markets. “Our imports are growing and prices are set by the European market,” said Iain Conn, chief executive officer of the Windsor, England-based utility that last week ...

DUBAI / Reuters Saudi Kayan Petrochemical Co said on Tuesday it had secured a $1.2 billion Islamic loan from National Commercial Bank (NCB) to help repay a previous facility with the lender that matures next week. The company, an affiliate of Saudi Basic Industries Corp , said the new loan was for five years, replacing the seven-year loan of same ...

Bloomberg Five years ago, commodities trader Wayne Bryan hardly considered Britain’s famously overcast skies when buying and selling UK natural gas. Now he can’t afford to ignore them. Within the last year, the sun has taken on new-found importance across the cloudy island nation with photovoltaic cells providing as much as a quarter of the UK’s daily power supply on ...

Bloomberg Chinese acquirers will spend $1.5 trillion buying companies and investing overseas in the next decade, 70 percent more than the previous 10 years, even as regulators at home and abroad block deals, Linklaters LLP said in a report on Tuesday. Government policies encouraging Chinese companies to invest in manufacturing capabilities, particularly for advanced technology, and international trade will help ...

Bloomberg The controversial H-1B visa programme, widely criticised for costing American workers their jobs, has actually provided economic benefits for both the US and India, according to a new study from researchers at the Center for Global Development and the University of Michigan. The combined incomes for the two countries as a result of the US visa programme rose by ...

Bloomberg TNG FinTech Group Inc., a Hong Kong-based digital wallet operator founded in 2013, is poised to close a funding round and is targeting a valuation of about $500 million, according to a person familiar with the matter. The firm has attracted almost $60 million in the series. A round from investors including a Beijing-based private equity fund, said the ...