Take note of this moment. This is a tipping point for online grocery shopping in the US. Food and beverage retail is one of the largest categories of consumer spending, accounting for yearly sales of $800 billion or more in the US. And it has been stubbornly immune to e-commerce. Last year, Kantar Worldpanel estimated online shopping for groceries and ...

Bloomberg This is how the grocery industry lives now. Regional chains are filing for bankruptcy. European-born discounters are expanding, forcing competitors to keep their own prices low. And Kroger Co. and Walmart Inc., the two largest grocers in the US, are investing in technology and expanding delivery as they try to fend off an incursion by Amazon.com Inc. It’s a ...

Bloomberg Pratt & Whitney will provide spare engines within 40 days to get all grounded Airbus SE A320neo aircraft at India’s IndiGo flying again, with the first delivery scheduled for Wednesday, people with direct knowledge of the matter said. The engine maker communicated its plan on Tuesday to the jet’s biggest customer, the people said, asking not to be identified ...

Bloomberg Claire’s Stores, known for tween jewellery and ear piercing, has become the latest victim of the retail apocalypse. The company filed for bankruptcy on March 19 and said it reached an agreement with creditors including its private-equity backer, Apollo Global Management LLC, to restructure around $1.9 billion in debt. Its plan to survive rests on its reputation for trendy ...

Emirates Business Airbus and Heathrow airport are celebrating the 10th anniversary of A380 operations at the airport. They began on March 18, 2008 with the arrival of the first A380, a Singapore Airlines flight SQ308 from Singapore Changi airport making Heathrow one of the first to welcome Airbus’ iconic double decker. Heathrow is now the world’s busiest A380 airport by ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, broke ground on the 700MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, the biggest Concentrated Solar Power (CSP) project in the world. The start of the new project advances the UAE’s global leadership ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued a Federal Law on linking the general budget of the Federation and the budgets of the autonomous state institutions for the fiscal year 2018. According to the Law, published in the Federal Official Gazette, both the expenditures and the revenues in the Federation’s general budget ...

DUBAI / WAM Dubai’s non-oil foreign trade in 2017 grew AED26 billion to reach AED1.302 trillion compared to AED1.276 trillion in 2016, enhancing Dubai’s position as global hub for trade despite the challenges faced by the global economy. Dubai’s re-exports grew nine percent in 2017 to AED360 billion, while Dubai’s imports reached AED798 billion and exports totalled AED144 billion. Dubai’s ...

LONDON / WAM UAE-based Petrofac, a leading service provider to the oil and gas production and processing industry, on Monday announced that it has signed a binding letter of intent, for a contract worth around $580 million (AED2.13 billion) with a GCC National Oil Company for the engineering, procurement and construction (EPC) of a major project. Specific details in relation ...

Abu Dhabi / WAM The 2017 cash dividends paid out by 62 companies listed on the Abu Dhabi and Dubai bourses amounted to AED33.161 billion, according to latest official figures. The banking sector continued to have the lion’s share of cash distributions, after 13 out of 18 listed banks pad out around AED18 billion in cash, accounting for 54.3% of ...