Retail

Bloomberg Sprint Corp. Chairman Masayoshi Son held talks with billionaires Warren Buffett and John Malone about investing in the wireless company, according to a person familiar with the matter. Buffett is considering an infusion of $10 billion to $20 billion, while Malone would put in additional funding, said the person, who asked not to be identified discussing private information. Part ...

Saudi Arabia / Emirates Business Integrated travel services provider, Holidayme.com, is consolidating its presence in the Kingdom of Saudi Arabia (KSA) as its next growth market following the Arab nation’s rapidly growing tourism sector, which has primarily been driven by rising tourist numbers in the last few years. Holidayme, which began its operation in the Middle East in 2014, plans ...

Dubai / Emirates Business Samsung Gulf Electronics announced the availability of the new Galaxy J Pro series in the UAE. The Galaxy J5 Pro and Galaxy J7 Pro are currently available in the market. The new lineup of Galaxy J Series offers high performance in a stunning metal body design with enhanced camera technology, all at an ultra-accessible price point. ...

Dubai / Emirates Business Better Life, one of the leading home appliance retailers in the UAE and a division of Easa Saleh Al Gurg Group, LLC has launched the ‘Better Surprises’ promotion as part of Dubai Summer Surprises (DSS) to provide attractive savings for customers. The promotion extends across its full range of appliances which includes built-in and major domestic ...

Bloomberg J. C. Penney Co., already grappling with sluggish sales and an effort to close underperforming stores, is losing its chief financial officer. Edward Record, who had served as CFO since March 2014, will leave the company on Tuesday to “pursue other interests,” J.C. Penney said. He will remain an adviser until Aug. 7 to help with the transition, with ...

Bloomberg Long known for squeezing its vast network of suppliers, Wal-Mart Stores Inc. is about to step up the pressure. The focus this time is delivery scheduling, and the company’s not messing around. Two days late? That’ll earn you a fine. One day early? That’s a fine, too. Right on-time but goods aren’t packed properly? You guessed it — fined. ...

Bloomberg Tesco Plc faces an in-depth probe into its 3.7 billion-pound ($4.75 billion) bid for food wholesaler Booker Group Plc after regulators expressed concerns that the deal could leave shoppers worse off. The Competition and Markets Authority said that shoppers in more than 350 local areas could face worse terms when buying groceries where there is an overlap between Tesco ...

Bloomberg Brazil’s long-suffering IPO bankers are headed toward their biggest payday in eight years. This month’s initial public offering for Carrefour SA’s Brazil unit will generate almost 140 million reais ($42 million) in fees for a group of local and international banks, based on a regulatory filing from the French grocery company. That tops the 119 million reais paid by ...

Bloomberg Marks & Spencer Group Plc (M&S) reported a fresh drop in quarterly clothing revenue and missed estimates for food sales, dealing a blow to Chief Executive Officer Steve Rowe as he seeks to revive the U.K. retail bellwether. Same-store sales in the clothing and home division fell 1.2 percent in the 13 weeks ended July 1, London-based M&S said ...

Dubai / Emirates Business Alcatel on Tuesday announced the launch of Alcatel A5 LED in the UAE. The world’s first interactive LED-covered smartphone, A5 LED delivers on Alcatel’s enjoy.now promise with innovations for energetic young consumers. “With the A5 LED, Alcatel is delivering new fun features, like light-up notifications and unique LED cover patterns and themes you create yourself, as ...