Bloomberg Wayfair Inc plunged to its lowest levels of the year after the online home-goods retailer gave a disappointing outlook for the critical holiday quarter. The shares fell 17% to $84.23 in New York, their lowest since December 26. The company said on its conference call with analysts and investors that it expects fourth-quarter net revenue of $2.48 billion to ...

Bloomberg India is planning to open 100 additional airports by 2024, as part of a plan to revive economic growth in Asia’s third-largest economy, according to people with knowledge of the matter. The proposal, which includes starting 1,000 new routes connecting smaller towns and villages, was discussed at a meeting to review infrastructure needed by 2025, the people said, asking ...

Bloomberg Takeaway.com has changed the type of bid it’s making for Just Eat Plc to one that allows it to change the shareholder acceptance threshold down the line as it competes with Naspers Ltd spinoff Prosus NV for the asset. Takeaway is moving from a “scheme of arrangement” to a conditional offer, the company said in a statement on Monday. ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, hoisted the UAE flag in the Burj Khalifa area to mark the ‘UAE Flag Day’. A number of students from various schools attended the event. His Highness said: “The UAE flag is a symbol of unity and ...

ABU DHABI / WAM The National Central Cooling Company (Tabreed), released on Sunday its consolidated financial results for the first nine months of 2019, reporting an increase of 3.1 percent in the net profit to AED329.1 million. In a press release issued by Tabreed on Sunday, group revenue increased by 3.5 percent to AED1,127.9 million, compared to AED1,090.0 million in ...

Bloomberg Saudi Arabia finally kicked off what could be the world’s biggest initial public offering (IPO), revealing potential tax cuts and dividends to lure investors. More than three years after Crown Prince Mohammed bin Salman first raised the idea, oil giant Saudi Aramco announced its intention on Sunday to list shares on the local stock exchange in Riyadh. The shares ...

DUBAI / WAM Dawoud Al Hajri, Director-General of Dubai Municipality and Chairman of the Committee for Developing Building Permits in the emirate of Dubai, expressed his pride in the UAE being ranked first in the Arab world and region, and third in the world, in easing the issuing of building permits, as per the World Bank’s Doing Business 2020 report. ...

SHARJAH / WAM Real estate transactions have recorded AED4.2 billion in the Emirate of Sharjah during the third quarter of 2019, while the total areas covered in the “sales transactions” in the emirate reached 9.5 million feet, as per the latest report of the Sharjah Real Estate Registration Department (SRERD). Abdulaziz Ahmed Al Shamsi, Director-General of SRERD, said that the ...

Bloomberg Tata Trusts, a philanthropic organisation associated with India’s salt-to-software Tata group, faces a tax liability of about 120 billion rupees ($1.7 billion) after authorities cancelled exemptions to six of its entities, the Business Standard newspaper reported. A trust whose registration is cancelled is required to pay tax on its past exempted income, the newspaper said, citing an official it ...

Bloomberg China Forestry Holdings Co’s liquidators are suing KPMG LLP for more than HK$1.3 billion ($166 million), citing the auditor’s negligence when assisting in the company’s listing in Hong Kong. KPMG failed to detect during the pre-IPO audit that then-executives of China Forestry falsified the company’s plantation assets and revenue, according to information contained in a judgment related to the ...