Bloomberg Thomas Cook is set to be relaunched by its Chinese owner, who plans to use the 178-year-old British tour operator’s brand on a travel platform targeting European customers. Fosun Tourism Group, the Shanghai-based company that bought Thomas Cook’s trademark following its dramatic collapse in September, will debut the platform in the first half of next year, according to a …

Bloomberg Delta Air Lines Inc will leave the private-jet charter business after 20 years, selling the struggling operation to Wheels Up Partners in a deal expected to close early next year. The airline will retain an unspecified equity stake in closely held Wheels Up, Delta said. Financial terms weren’t disclosed. Wheels Up Chief Executive Officer Kenny Dichter will continue leading …

Bloomberg Nestle SA Chief Executive Officer (CEO) Mark Schneider keeps cutting the sugar and fat. The question is what he’ll add to spur growth at the world’s biggest food company. In the CEO’s second-biggest disposal, the Swiss company sold its US ice cream business to a joint venture with private equity firm PAI Partners for $4 billion. That adds the …

Bloomberg A growing number of sellers on Amazon.com Inc’s platform are finding how painful it can be when Amazon’s absolute power over their small businesses meets a bureaucratic US government system not built for the 21st century. The issue involves trademarks filed with the US Patent and Trademark Office (PTO), a federal agency meant to ensure brands big and small …

Bloomberg India’s Parliament approved a controversial bill that prevents illegal Muslim migrants from neighbouring countries from receiving citizenship after hours of heated debate among lawmakers and protests in some parts of the country. The bill, which offers amnesty to non-Muslim illegal migrants from three neighbouring countries, was approved in the upper house of Parliament on Wednesday after it secured more …

FUJAIRAH / WAM Refined oil product stocks at the Middle Eastern hub of Fujairah rose 2.5 percent in the week to December 9 on the back of increased gasoline and other light distillate stockpiles, according to data released on Wednesday by the Fujairah Oil Industry Zone, FOIZ. Total inventories rose to 21.337 million barrels during the last week, bringing the …

Bloomberg Saudi Aramco shares surged after the oil producer’s initial public offering, valuing the company at a record $1.88 trillion in the culmination of a four-year effort by the kingdom to list its crown jewel. The stock jumped the daily 10% limit to 35.20 riyals when trading began at 10:30 am in Riyadh as Aramco board members, Saudi officials and …

Bloomberg Stocks slipped with US equity futures before the Federal Reserve’s final policy decision of the year and amid lingering uncertainty over the progress of trade negotiations between America and China. Treasuries advanced. The Stoxx Europe 600 Index declined, led lower by media and real estate shares. Contracts on the main US equity gauges also drifted lower as traders awaited …

Bloomberg UTI Asset Management Co, India’s oldest mutual fund, is set to go public next year after some of its shareholders came under regulatory pressure to cut stakes. Life Insurance Corp (LIC), State Bank of India (SBI) and Bank of Baroda must reduce their stakes in UTI Asset by the end of 2020, the country’s market regulator said in a …

Bloomberg Home Depot Inc shares fell as much as 2.5% Wednesday as the retailer’s sales and operating margin guidance for next year disappointed Wall Street. The forecasts were provided ahead of the its 2019 Investor and Analyst Conference. Analysts weren’t completely surprised by the guide down, following Home Depot’s weaker-than-expected third-quarter report November19, which included cuts to its current year …