Bloomberg The losses that drove Sears Holdings Corp. into bankruptcy could end up being a valuable multi-billion dollar asset because of tax breaks — especially for its most notable creditor and Chairman, Eddie Lampert. As of the retailer’s bankruptcy on October 15, Sears estimated it had net operating losses it could use to offset $5 billion of future taxable income, …

Bloomberg Southwest Airlines Co. tumbled the most in two years as Wall Street worried that expenses are getting out of hand. Investments in new technology and airport facilities haven’t paid off as much as expected, said Chief Executive Officer Gary Kelly. Costs for each seat flown a mile, a key measure of efficiency, will climb at least 3 percent in …

ABU DHABI / WAM Tedros Adhanom Ghebreyesus, Director-General of the World Health Organisation (WHO), in a message on World Polio Day, has thanked His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for his continuous efforts to achieve polio-free world. HH Sheikh Mohamed bin Zayed in a …

Emirates Business Hyperloop Transportation Technologies announced appointment of leading design and engineering firm, Dar Al-Handasah (founding member of the Dar Group), to assist in bringing the Abu Dhabi commercial system to reality. Dar Al-Handasah joins the project as design lead and as the latest investor in HyperloopTT. Construction of the Hyperloop commercial track as well as HyperloopTT’s XO Square Innovation …

DUBAI / WAM Enoc Group announced that construction of its 16.2km jet fuel pipeline linking its storage terminals in Jebel Ali to Al Maktoum International Airport in Dubai South has exceeded 20 percent. The announcement was made during 20th Water, Energy, Tech- nology and Environment Exhibition (WETEX 2018). The pipeline is scheduled to be operational in 2020 Q1, in time …

Bloomberg Saudi Aramco’s chief executive officer said he has bigger ambitions in petrochemicals beyond the planned $70 billion acquisition of a strategic stake in local company Sabic, touting plastics as a key hedge against an electric-car driven slowdown in global oil demand growth. “We still have to do more,” Amin Nasser, chief executive officer of state-owned Aramco, said in an …

Bloomberg Linde AG and Praxair Inc. won approval from the US antitrust enforcers for their $46 billion merger, paving the way for the companies’ two-year bid to create the world’s largest supplier of industrial gases. The Federal Trade Commission (FTC) said it approved the deal on the condition that Linde and Praxair sell assets to resolve concerns that the combination …

Bloomberg Move over Google. There’s a new urban oasis coming to the shores of Lake Ontario. A former 177-acre (72-hectare) coal power plant site will be transformed into a mixed-use community in Mississauga, a city west of Toronto that could be worth as much as C$6 billion ($4.6 billion) once complete, according to Fabio Mazzocco, president of Lakeview Community Partners …

Bloomberg Venezuela’s state-run oil company is preparing to make a $949 million bond payment that’s due October 29, according to reports. Petroleos de Venezuela SA’s (PDVSA) plan to make the coupon and partial principal repayment on the 2020 notes would mark a rare exception for Nicolas Maduro’s government, which has racked up nearly $7 billion in defaulted debt to investors. …

Bloomberg Exxon Mobil Corp. resumed talks with Ghana Oil Co. as the oil supermajor nears a deadline to find a local partner for the exploration of crude at an offshore field, according to people familiar with the matter. Talks between Exxon and the Accra-based gas station operator, known as Goil, for a 5 percent stake in the Deepwater Cape Three …