Bloomberg Asos Plc plunged after the online fashion retailer warned that earnings will slump this year, putting pressure on Chief Executive Officer Nick Beighton as he tries to fix distribution issues and prop up a falling stock price. Profit before tax may fall as much as 71 percent, Asos forecast. Shifting to new technology at US and European warehouses is …

Bloomberg Amazon.com Inc captured the bulk of online spending during the first 24 hours of its Prime Day event, showing that customers continue to flock to the site for deals despite competing discounts offered by Walmart Inc, EBay Inc and Best Buy. Online shoppers spent more than 10 times as much money on Amazon in the first day than they …

Bloomberg United Airlines Holdings Inc prodded Boeing Co for details on a proposed new jetliner for middle-distance routes, even as the planemaker races to get its workhorse 737 Max back into the skies. The world’s second-biggest airline is contemplating how to replace 130 of its older Boeing 757 and 767 aircraft, which are used on a variety of domestic and …

Abu Dhabi / WAM Mubadala Petroleum has announced the signing of an agreement with Premier Oil to farmout a 20 percent participating interest in each of the Andaman I and South Andaman Gross Split Production Sharing Contracts, PSCs. Mubadala Petroleum is the operator of both the Andaman I and adjacent South Andaman PSCs. Dr Bakheet Al Katheeri, Mubadala Petroleum’s Chief …

Bloomberg Americans burned through a lot less gasoline and diesel fuel than expected last week, feeding into investor angst over oil demand. Futures slid as much as 1.1 percent in New York on Wednesday, declining for a third straight day, after the US Energy Information Administration said stocks of gasoline and distillate fuels grew by a combined 9.25 million barrels …

ABU DHABI / WAM President Adama Barrow of the Republic of Gambia has expressed his country’s interest in promoting economic and investment cooperation with the United Arab Emirates. This came during a meeting with Mohamed Helal Al Muhairi, Director-General of the Abu Dhabi Chamber of Commerce and Industry, at the Emirates Palace in Abu Dhabi. Preident Barrow, during the meeting, …

Bloomberg Emirates NBD PJSC’s first-half profit jumped 49 percent as Dubai’s biggest bank benefitted from the sale of a stake in its card payments processing unit. Net income advanced to AED7.48 billion ($2.04 billion) from 5.02 billion a year earlier, the state-controlled lender said in a statement. The bank made AED2.1 billion from the initial public offering of Network International …

Bloomberg Mexico’s Petroleos Mexicanos announced plans to reverse a decade and half of declining crude production as early as next year and balance its budget by 2021. The peso and the company’s bonds weakened on skepticism that the strategy to achieve those goals will be effective. Under the presidency of Andres Manuel Lopez Obrador, Pemex will invest 1.95 trillion pesos …

Bloomberg Suzlon Energy Ltd., which became India’s biggest convertible-note defaulter in 2012, slumped in Mumbai after missing payments on dollar-denominated convertibles. Shares of the stressed wind-turbine maker fell as much as 8.6 perce-nt in trading on Wednesday after missing a deadline to repay $172 million outstanding on the securities. While an earlier debt revamp helped the company’s shares surge in …

Bloomberg US new-home construction fell in June for a second month as a drop in apartment building outweighed a pickup in single-family projects. Residential starts declined 0.9 percent to a 1.25 million annualised rate, the slowest in three months, according to government figures. Permits, a proxy for future construction, dropped 6.1 percent to a 1.22 million rate, also reflecting a …