Bloomberg The 5.8 billion-euro ($6.6 billion) offer of Czech billionaire Daniel Kretinsky and his Slovak investment partner Patrik Tkac for Metro AG “substantially undervalues” the German food distributor, the management board said. The unsolicited bid of 16 euros for each ordinary share and 13.80 euros per preference share also doesn’t reflect its value creation plan, the Dusseldorf-based company said in …

Bloomberg Just two months after unveiling plans to begin US service to the UK, JetBlue Airways Corp moved to fly farther still, ordering 13 Airbus SE A321XLRs, the new, longest-range version of the popular narrow-body jet. The order builds on JetBlue’s April decision to enter the hyper-competitive trans-Atlantic market in 2021, with flights from Boston and New York to London. …

Bloomberg Mexican airline Volaris has launched a programme called “Reuniting Families” that is offering to fly Central American immigrants in Mexico back to their countries of origin. For $1, plus applicable taxes, Volaris will fly immigrants in Tijuana, Ciudad Juarez, Guadalajara and Mexico City to Costa Rica, El Salvador or Guatemala. Immigrants need only show some form of ID and …

Bloomberg TBH Global Co, the South Korean clothing retailer whose brands include Basic House, is considering a sale of its Chinese business that could raise about $200 million, according to people familiar with the matter. TBH Global shares jumped the most in more than 13 years. The company has held talks with potential advisers about the sale, said the people, …

Bloomberg Walmart Inc will fully integrate all Jet.com employees into the larger company and shrink the unit’s management team nearly three years after buying the e-commerce site. The changes, outlined in a memo from Jet co-founder Marc Lore, include the departure of Jet president Simon Belsham, who will seek another opportunity inside or outside the company after a transition period …

Bloomberg United Airlines has suspended its service between Newark and Mumbai, a route that regularly flies through Iranian airspace, after Iran shot down a US military drone and as tensions between the two countries continue to escalate. “Given current events in Iran, United has conducted a thorough safety and security review of our India service through Iranian airspace and decided …

Bloomberg China has the strength and patience to withstand the trade war, and will fight to the end if the US administration persists with it, China’s state-run People’s Daily said in an editorial on Saturday. The US must drop all tariffs imposed on China if it wants to negotiate on trade, and only an equal dia- logue can resolve the …

Bloomberg Bitcoin breached $10,000 for the first time in about 15 months, recouping more than half of the parabolic increase that introduced mainstream investors to the digital asset before the bursting of the cryptocurrency bubble. “The bounce back of Bitcoin has been fairly extraordinary,” said Geo-rge McDonaugh, chief executive and co-founder of London-based block-chain and cryptocurrency investment firm KR1 Plc. …

Bloomberg Call it the trifecta that gave rocket fuel to the gold market: Powell, positioning and politics. Gold ended the week trading near $1,400 and recorded bigg-est weekly gain in three years. It was Jerome Powell’s signal that Federal Reserve is moving closer to lowering interest rates and a brewing conflict between Iran and the US that lit a spark …

Dubai / Emirates Business Damac Properties announced the launch of its new project, ‘Zada’, in Dubai’s Business Bay area. Priced at AED 699,999, the exquisitely designed one-bedroom apartments offer views of the iconic Dubai Canal. The official launch will take place on June 29, and Damac is offering prospective buyers a chance to pay for the property in monthly instalments …