Bloomberg Lotte Group’s retail unit is selling 22 of its stores in Beijing to China-based grocer and hypermarket rival Wumei Holdings Inc. for 256 billion won ($237 million), the Chosun Ilbo newspaper reported, without saying where it got the information. Lotte Shopping Co. has taken a sales hit in China over the past year after the group provided land for ...

Bloomberg Norwegian Air Shuttle ASA said it has attracted interest from other potential suitors since the revelation that British Airways parent IAG SA may bid for the company. Norwegian received several inquiries after IAG disclosed that it was building a stake and might make a formal offer, it said, sending the stock 16 percent higher. Chief Executive Officer Bjorn Kjos ...

Bloomberg EBay Inc. gave a disappointing forecast for revenue growth in the second quarter, taking the shine off Chief Executive Officer Devin Wenig’s turnaround strategy. The online marketplace said sales will be $2.64 billion to $2.68 billion in the second quarter, while analysts were projecting $2.68 billion. The outlook stirred concerns about the company’s ability to return to consistent growth ...

NEW YORK / WAM Zaki Nusseibeh, Minister of State, has urged UN agencies and member states to take collective action to identify countries that support and finance terrorism, and hold them accountable, reaffirming the UAE commitment to peacebuilding in the Middle East and beyond. The minister made the remarks on the sidelines of his participation in the two-day United Nations’ ...

Bloomberg The European Union warned about the costs of a trans-Atlantic trade war while bracing for one to erupt after the US signalled it will reject the bloc’s dem-and for an unconditional waiver from metals-import tariffs. “A trade war is a losing game for everybody,” Belgian Finance Minister Johan Van Overtveldt told reporters in Sofia. “We should stay cool when ...

Hassan Soukar Over the past few years there has been a remarkable surge in demand for second citizenships among high-net-worth expatriates living in the UAE. But the spike in interest for acquiring second passports has been all-time high in the first three months of 2018. The whole industry is coming of age. The second passports are not only seen just ...

Bloomberg Amazon.com Inc. has partnered with General Motors Co. and Volvo Cars to deliver packages to car trunks in 37 US cities, as the e-commerce giant seeks new delivery methods for customers who may be wary of leaving packages outside or allowing couriers into their homes. The app-based service, which lets car owners provide delivery agents with keyless access to ...

Bloomberg Alibaba Group Holding Ltd. is getting its digital assistant into Mercedes-Benzes, Audis and Volvos in China, enlisting a clutch of global automakers in an effort to popularise the year-old technology for everything from shopping to home security. Daimler AG, Volkswagen AG and Zhejiang Geely Holding Group Co.’s Volvo join some 100 brands Alibaba says it’s partnered with. The Chinese ...

Bloomberg International Business Machines Corp., a group of four gold and diamond industry companies and an independent laboratory are developing a blockchain network for tracing the provenance of finished pieces of jewelry from mine to store. The TrustChain Initiative, which will run on IBM’s technology, includes precious-metals refiner Asahi Refining, US jewellery retailer Helzberg Diamonds, precious-metals supplier LeachGarner, jewellery-maker the ...

Bloomberg Economists abandoned predictions that the Bank of England (BoE) will increase interest rates next month after two weeks of disappointing data and the public doubts of Mark Carney. The shock near-stagnation of the economy proved the final straw after the BOE governor raised questions about such a move last week. Firms including NatWest Markets, SEB, Berenberg and ING have ...