Bloomberg US aviation safety regulators intend to require passenger and cargo aircraft to meet requirements by early next year for navigation gear to deal with potentially unsafe interference from 5G mobile-phone signals. The equipment is needed because the newer wireless signals are on frequencies near those used by planes’ radio altimeters, which determine altitude over ground and can cause them ...

  Bloomberg Amazon.com Inc plans to shut down three of its UK warehouses this year in an operation that will impact about 1,200 employees. Hemel Hempstead, Doncaster and Gourock will shut this year, making way for two new fulfilment centers, Amazon said in a statement. The new sites will ultimately create 2,500 jobs and employees at the affected warehouses will ...

  Bloomberg Uniqlo clothing brand owner, Fast Retailing Co, will raise annual pay for full-time employees in Japan by 40%, seeking to retain and motivate staff as the nation faces the fastest pace of inflation in decades. The plan will cover workers at headquarters as well as in stores, the retailer said in a statement. The wage hikes will impact ...

  Bloomberg Bernard Arnault named his daughter Delphine to run LVMH’s second-biggest brand, Dior, the latest step by the 73-year-old billionaire to elevate his children to key posts in his luxury empire. The appointment comes a month after Antoine Arnault, the eldest son, was given a wider role in the business, replacing Sidney Toledano as chief executive officer and vice ...

  Bloomberg Procter & Gamble Co. (P&G) agreed to acquire Mielle Organics, a beauty company that makes products for textured hair. Mielle will operate as an independent subsidiary of P&G Beauty and will continue to be led by husband-and-wife duo Monique and Melvin Rodriguez, who founded the company in 2014. The companies didn’t disclose terms of the deal. P&G Beauty’s ...

  Bloomberg Budget frozen food retailer Iceland Foods is reducing the amount of chilled food it sells to try to lower the business’s energy bills. The supermarket chain is stocking more room-temperature products instead of chilled, Chairman Richard Walker said in a phone interview. Iceland is also using more modern fridges, putting doors on warehouse fridges and putting solar panels ...

  Bloomberg The largest known deposit of rare earth minerals in Europe has just been discovered in Sweden’s Arctic, with potential to help the continent break free from China’s dominance on the market for the resources. The deposit, found by Swedish state-owned mining company LKAB, contains more than 1 million tons of rare earths, according to a statement on Thursday. ...

  Bloomberg South Korea will boost nuclear power generation and downgrade its plans for renewable energy as the nation overhauls its electricity mix to meet emissions reduction targets. Nuclear plants are now expected to account for almost one-third of generation capacity by 2030 up from about 24% forecast in earlier draft proposals, according to government documents published on Thursday. Renewable ...

  Bloomberg Sanjeev Gupta’s Liberty Steel will cut production in the UK and idle some sites, as soaring energy costs threaten hundreds of jobs across the group. Steel output at Liberty’s electric arc furnace in Rotherham will be reduced and replaced with imports from abroad. Two of the Liberty’s downstream production units — including a rolling mill in Newport — ...

  Bloomberg Taiwan Semiconductor Manufacturing Co. is bracing for weaker-than-expected sales by reducing spending, deepening concerns the technology industry’s slump is yet to bottom. The chip giant signaled this quarter could mark its first revenue drop in four years. But executives forecast slight growth for the full year on an expected recovery in demand for server chips. The company is ...