Bloomberg Pier 1 Imports Inc is planning to dismiss about 40% of its headquarters staff and shut about 450 stores in an attempt to overhaul the troubled home furnishings business. The retailer has drafted a bankruptcy plan and last month made a presentation to creditors that envisioned a smaller company with about $900 million in annual sales, according to people ...

Bloomberg Oil extended its gains, briefly surpassing $70 a barrel in London for the first time since September, as Middle East tensions flared after the US assassinated one of Iran’s most powerful generals. Futures rose as much as 3.1% on Monday as the US State Department warned of a “heightened risk” of missile attacks near energy facilities in Saudi Arabia. ...

ABU DHABI / WAM Etihad Airways will waive flight changes for Australian residents affected by the ongoing bushfires in the country. In a statement released on Monday, the UAE flag carrier said, “In response to the country’s devastating bushfires, Etihad Airways will waive flight change fees for Australian residents affected by this ongoing national emergency.” “The waivers will apply for ...