News

Indianapolis / Bloomberg Short-haul carrier Republic Airways Holdings Inc. filed for bankruptcy, blaming a lack of pilots for its failure to succeed when major airlines are enjoying record profits. Indianapolis-based Republic operates a fleet of smaller planes that provide flights for larger airlines including American Airlines Group Inc., Delta Air Lines Inc. and United Continental Holdings Inc. Although it landed ...

PARiS / Bloomberg Air France told a workers’ council it will eliminate 1,605 jobs this year, with all cuts to come through voluntary departures, people familiar with the situation said. Ground staff, including mechanics and airport workers, account for the vast majority of the cuts, with 1,405 jobs set to go, or 3 percent of their total, the people said ...

Bloomberg Brokers would have to reveal how much they earn on bond transactions that involve retail clients under a US regulator’s plan for cracking down on inflated commissions. The Financial Industry Regulatory Authority (Finra) proposal, if approved by the Securities and Exchange Commission, would force brokers to report markups on bonds they hold for no more than one day, according ...

BLOOMBERG Rising home prices in hot housing markets are robbing buyers of a favorite pleasure: looking at pictures of homes they can’t afford. Or at least, that’s one way to read a blog post published by real estate brokerage Redfin. Traditionally, buyers browsing online listings have looked at homes that cost more than they are planning to spend, said Redfin. ...

BLOOMBERG The longest losing streak in Singapore residential prices in 17 years may prompt the government to take its foot off the brakes and relax some property curbs this year, the city-state’s second-biggest developer said. Kwek Leng Beng, the billionaire executive chairman of City Developments Ltd., which built luxury condominiums such as the St. Regis Residences near the Orchard Road ...

Atlanta / Bloomberg Hilton Worldwide Holdings Inc. said it will spin off its lodging properties and timeshare business into separate publicly traded companies in a bid to boost shareholder value as the world’s largest hotel operator faces increased competition. About 70 of the company’s 146 owned and leased properties — mainly the U.S. hotels — will be spun off into ...

Relaxnews Milan Fashion Week was marked by catwalk shows, including a vibrantly colorful autumn/winter preview from Fendi. As usual, elegance and fur were firmly on the agenda, but Karl Lagerfeld and Silvia Venturini Fendi brought a cool, funky vibe and a fresh feel to this season’s collection. The show’s funky undertone was felt even before the first models took to ...

Relaxnews With the Baselworld watch and jewelry fair set to open in Basel, Switzerland on March 17, the Swiss watchmaker has previewed the ‘Lady KonTiki Diver,’ a stylish and sporty women’s diving watch. It’s also Eterna’s first new “KonTiki” ladies’ watch in 23 years. The ‘KonTiki’ watch was launched in 1958, inspired by a historic Pacific crossing. In fact, the ...

Milan/ AFP Prada’s answer to stagnating sales was unveiled with a handbag-heavy Fall-Winter collection that the company’s executives hopes will spark a revival in the fashion heavyweight’s flagging fortunes. Miuccia Prada’s latest offering had a post-War feel about it with sailor or nurse-style white caps abounding alongside cape-shaped coats and pencil skirts designed to emphasise the slender waists of more ...

Abu Dhabi / Emirates Business The USA, UK, Australia, Singapore and Germany are the top five destinations for UAE residents looking to invest in property overseas, according to a YouGov survey commissioned by IP Global, a leading full-service property investment company. When asked where they would consider investing in property abroad, the US topped the list, with 21% saying they ...