Bloomberg An Air Canada passenger flight with 128 passengers on board landed safely at Madrid’s Barajas airport after the aircraft suffered damage following takeoff. The aircraft made its emergency landing “without incident” shortly after 7pm in Madrid and engineers were now checking it over, airport operator AENA said in a tweet. Flight AC837 bound for Toronto had earlier aborted its …

Bloomberg A group including two of Forever 21 Inc’s biggest landlords has offered to buy the bankrupt retailer for $81 million, a fraction of what the international fashion pioneer was once worth. The consortium of Simon Property Group Inc, Brookfield Property Partners LP and Authentic Brands Group LLC is seeking to buy substantially all of the company’s assets, according to …

Bloomberg Hudson’s Bay Co Chairman Richard Baker was in talks about selling the Canadian retailer’s stake in its European business when he started to formulate his own plan to take the owner of Saks Fifth Avenue private, according to a regulatory filing. The document offers a look into Baker’s role in the sale of Hudson’s Bay’s stake in a joint …

Bloomberg BP Plc surprised investors with a slight increase in its dividend, bucking the trend in what has otherwise been a bleak earnings season for Big Oil. In the final set of results for retiring CEO Bob Dudley, the London-based company offered some respite for investors who received nothing but bad news from BP’s peers. Big payouts, whether as dividends …

Bloomberg Asia’s natural gas price plunged to a record low on concerns the spread of the deadly virus that has stricken China will hurt demand already weakened by an unusually mild winter. The Platts Japan/Korea marker, a benchmark for liquefied natural gas (LNG), tumbled to $3.512 per million British thermal units, half the spot market rate in October when the …

Bloomberg Denmark’s largest pension fund is offering a new product that gives customers the option of placing retirement savings in climate-focussed investments. PFA’s Climate Plus comprises asset classes from companies working on reducing CO2 emissions, combined with investments in projects such as offshore wind farms and sustainable properties, the fund said. The product, which will be made available to customers …

Dubai / WAM Hub71, Abu Dhabi’s tech ecosystem officially launched WeWork x Hub71 – three floors of beautifully designed workspace offering 1,200 desks for members to innovate, collaborate and connect – in the award-winning international financial centre, Abu Dhabi Global Market, on Al Maryah Island, Abu Dhabi. The grand launch event was attended by Hub71’s strategic partners, senior government officials, …

ABU DHABI / WAM The UAE on Monday announced the suspension of all flights to and from China, with the exception of the country’s capital, Beijing, which will remain unaffected. The General Civil Aviation Authority (GCAA), said that the suspension would come into force on February 5 – until further notice – adding that the decision is part of precautionary …

Bloomberg Chinese oil demand has dropped by about 3 million barrels a day, or 20% of total consumption, as the coronavirus squeezes the economy, according to people with inside knowledge of the country’s energy industry. The drop is probably largest demand shock the oil market has suffered since the global financial crisis of 2008 to 2009, and the most sudden …

ABU DHABI / WAM Emirates Global Aluminium (EGA), on Monday announced it has secured a $600 million revolving credit facility with a syndicate of UAE and international banks. According to a press release issued by EGA on Monday, the three year committed facility, priced at a competitive margin, replaces uncommitted facilities extended to EGA separately by a number of banks. …