Seoul / AFP South Korea’s Lotte Group said on Monday it was scrapping an initial public offering worth almost four billion dollars amid a widening investigation into alleged embezzlement by its founding family. Hotel Lotte — the group’s key unit — had planned to list shares worth at least 4.6 trillion won ($3.9 billion) on Seoul’s main stock market ...

  Mumbai / Tribune News Service The Wadia group-owned budget airline GoAir is likely to start international services by early next year, civil aviation secretary R.N. Choubey said. Meanwhile, GoAir’s 20th aircraft, Airbus A320neo, landed at the Delhi airport on Monday. A domestic airline needs a 20-aircraft fleet to fly abroad, and GoAir inducted its 20th Airbus A320neo plane this ...

  New York / Bloomberg It’s time for Urban Outfitters to re-think its thing for physical stores. Shares in the hipster-chic retailer dropped by as much as 9 percent after it warned investors, in a quarterly results filing, of falling sales in the current quarter. More than half a dozen Wall Street analysts subsequently cut their share-price targets. The consensus ...