BLOOMBERG John Lewis Partnership Plc cancelled staff bonuses for the second time in three years and warned of fresh job cuts after reporting a large loss amid intense competition in the British retail market. The owner of the John Lewis department store and upmarket grocer reported a £234 million ($283 million) loss for the full year, driven in large part ...

BLOOMBERG Dollar General Corp said it would spend an extra $100 million on its stores, mostly to increase staffing, after incurring a series of fines from the US government over working conditions. The investment will be “primarily in incremental labour hours,” Chief Executive Officer Jeff Owen said in a statement as Dollar General reported earnings. The spending will help the ...

BLOOMBERG FedEx Corp’s shares climbed after the courier boosted its profit outlook, signalling efforts to cut costs are helping counter a decline in package volume. Adjusted earnings this fiscal year will be $14.60 to $15.20 a share, up from a prior forecast of no more than $14, the Memphis, Tennessee-based company said in a statement. Analysts were expecting $13.57 on ...

BLOOMBERG Boeing Co and Airbus SE are increasingly looking to India for highly-skilled, low-cost engineers to meet a boom in demand for aircraft and expand their manufacturing presence in the world’s fifth-largest economy. Airbus plans to hire 1,000 people in India this year out of 13,000 globally. Boeing and its suppliers, which already employ about 18,000 workers in the nation, ...

DUBAI / WAM Dubai Electricity and Water Authority (Dewa) won 26 prestigious local, regional, and international awards in 2022, raising its record of awards to 410 (68 local, 69 regional, 273 global) between 2015 and 2022. Dewa also marked another breakthrough by achieving the Guinness World Records for the “largest single-site water desalination facility in the world” with a production ...

ABU DHABI / WAM Mubadala Business Management Services (MDC BMS), wholly owned by Mubadala Investment Company, announced its rebrand to Solutions+, a Mubadala Company. The core offerings of solutions + will continue to power the back-office engine of major companies in the UAE and internationally — driving change, progress, and value through vital infrastructure functions, ranging from operations to digital ...

DUBAI / WAM The Mohammed bin Rashid Space Centre (MBRSC) has announced the launch of “A Call With Space,” an exclusive event featuring Emirati astronaut Sultan AlNeyadi, which will be held across the UAE. As part of the roadshow, the public will have the opportunity to interact live with Sultan, who is currently on the International Space Station (ISS) undertaking ...

BLOOMBERG The UK government offered a 5% pay rise to nurses, midwives and ambulance workers in England for the next financial year, in a bid to end months of strikes. The proposal for National Health Service (NHS) workers includes a one-time bonus worth 2% of salary for 2022-23, along with an “NHS backlog bonus” worth at least £1,250 per person, ...

BLOOMBERG General Electric (GE) Co Chief Executive Officer Larry Culp saw his total compensation decline more than 60% in 2022 after agreeing last year to a reduced annual stock award. The CEO’s total compensation in 2022 was $8.2 million, down from $22.7 million in 2021, according to the company’s annual proxy filing. The 64% reduction was expected, and mostly due ...

BLOOMBERG UK food-delivery service Deliveroo Plc reported that annual sales rose 14% last year when inflation and economic headwinds hit customers. Revenue rose to £1.97 billion ($2.4 billion) and its operating loss was £245.6 million last year, the company said in a statement. Shares fell 3% to 86.88 pence in London. The company said it reached a key milestone of ...