Bloomberg The International Air Transport Association (IATA) cut its profit target for the global aviation market this year, predicting lower returns than six months ago as rising fuel prices and labour costs eat into the industry. Net income for 2018 is likely to total $33.8 billion, 12 percent lower than a December forecast for $38.4 billion, the industry’s main trade ...

Bloomberg By putting his son Antoine in charge of image and communication, Bernard Arnault is sending a powerful message: LVMH, the world’s largest luxury goods maker, needs to make room in its executive ranks for the owner’s family. Arnault sent a memo to employees on June 1 announcing Antoine’s new responsibilities, a copy of which was seen by Bloomberg News. ...

ABU DHABI / WAM First Abu Dhabi Bank (FAB) appointed Paul Hartwell as Chief Executive Officer (CEO) of the bank’s operations in the United Kingdom, subject to regulatory approvals. Paul Hartwell joins FAB with over 30 years of experience in corporate banking, operations and risk. Most recently, he was the CEO of British Arab Commercial Bank. Abdulhamid Saeed, Group CEO ...