Bloomberg Wizz Air Holdings dropped after saying its outlook is clouded by stiff competition for passengers and a threat from air-traffic control strikes. Profit will still rise this year, to as much as $390 million, as the Hungarian discount carrier seeks to grab market share from rivals battling higher fuel costs. Investors had hoped for more, according to Morgan Stanley, ...

Bloomberg Capri Holdings Ltd, the company behind Michael Kors and other luxury brands, tumbled the most in almost seven months after trimming its sales projection for the current year amid foreign currency weakness and lower revenue from wholesale. Capri sees revenue of $6 billion for the current fiscal year, the company said in its quarterly earnings report. That’s down from ...

Bloomberg Tiffany & Co is poised to close in the red for the sixth consecutive session, the longest losing streak sense December 2016. Shares are down 10 percent in the six-day period, trailing the S&P 500’s decline of 3.5 percent for the same period. Tiffany is due to report quarterly results June 4, and analysts are projecting revenue to fall ...

Bloomberg Back when Eddie Lampert was campaigning for approval of his plan to rescue Sears, he emphasized his promise to give severance to employees who lost their jobs after the retailer went bankrupt. If liquidators wound up with the chain, he told Sen. Elizabeth Warren in February, “these employees would be getting nothing.’’ Warren and Representative Alexandria Ocasio-Cortez (AOC) criticised ...

ABU DHABI / WAM The United Arab Emirates has maintained its regional lead and ranked fifth globally in global competitiveness, according to the World Competitiveness Yearbook 2019, published by the Swiss-based International Institute for Management Development (IMD) on Wednesday. ‘‘UAE enters top five for the first time,’’ said the IMD World Competitiveness Rankings. ‘‘The United Arab Emirates — ranked 15th ...

Bloomberg Oil slumped as escalating trade hostilities between the US and China stoked fears of slowing global growth, overshadowing forecasts for a drop in American crude inventories. Futures in New York lost as much as 2.5% after rallying 2.1% following Chin- ese media suggestions on Wednesday that the nation could restrict rare earth exports to the US. American crude inventories ...

ABU DHABI / WAM Etihad Airways is transforming its economy class flight experience by upgrading its cabins and refurbishing its 23 narrow-body Airbus A320 and A321 aircraft. The renovated cabins will feature ergonomic “extra-spatial design” seats by UK-based Acro, an innovator in the manufacturing of aircraft seats. The retrofit programme, which includes new, personalised wireless streaming entertainment to smartphone and ...

Bloomberg The Trump administration again refrained from labelling China a currency manipulator, a decision that leaves one of the president’s campaign promises unfulfilled but avoids further escalation in the trade war between the world’s two largest economies. China said on Wednesday that “relevant international organisations,” and not the US, are in position to decide whether a country is a currency ...

Emirates Business Ras Al Khaimah Tourism Development Authority (RAKTDA) inaugurated the first edition of the Belgian Travel Summit taking place until June 1 in Ras Al Khaimah. The four-day summit is the first joint congress of the Belgian trade unions of travel agencies at a national Belgium level and witnessed the attendance of the Association of Flemish Travel Agencies (VVR) ...

Dubai / Emirates Business du, from Emirates Integrated Telecommunications Company (EITC), strengthened its partnership with Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, to provide dynamic class leading data center services. As part of the agreement, du will continue to deliver advanced network solutions with increased operational and network efficiency that will further enhance the service ...