Abu Dhabi / Emirates Business Etihad Aviation Group and Lufthansa German Airlines, part of Europe’s largest aviation group, on Wednesday unveiled details of a new commercial partnership. The two airline groups have concluded a US$100 million global catering agreement and a Memorandum of Understanding (MoU) to cooperate in aircraft maintenance, repair and overhaul. Addressing a press conference today in …

  Bloomberg Hennes & Mauritz AB provided some much-needed good news for Europe’s struggling clothing retail market, reporting profit that topped estimates and setting a new annual growth target. After missing estimates for five of the previous six quarters, H&M said fourth-quarter pretax earnings rose to 7.41 billion kronor ($839 million), exceeding the 7.04 billion-kronor average estimate. A previous target …

  Bloomberg Wal-Mart Stores Inc. is scrapping its ShippingPass program, which struggled to compete with Amazon.com Inc.’s Prime, opting instead for a two-day shipping model that doesn’t have annual membership fees. Subscribers of ShippingPass, which had offered two-day delivery for a $49 membership, will receive refunds as the service is eliminated, Wal-Mart said in a statement. The new approach — …