BLOOMBERG Italy’s competition authority has opened a probe into Ryanair Holdings Plc’s market position in the country, further escalating tensions between the Irish budget carrier and Prime Minister Giorgia Meloni’s government. The authority is investigating Ryanair’s dominant positions in services for tourists, including car rentals and hotel bookings, which the watchdog alleges harm travel agencies and customers, according to a ...

BLOOMBERG Delivery Hero SE confirmed that it’s in talks to sell part of its business in Southeast Asia, where growth has stagnated since Covid-19 lockdowns eased.  The company is in negotiations to sell the Foodpanda brand in Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar and Laos, Berlin-based Delivery Hero said in a statement. The negotiations are at an early stage and ...

BLOOMBERG American Airlines Group Inc joined a growing number of carriers around the globe that have discovered improperly certified replacement parts sold by a London-based company on their aircraft. American disclosed the finding to Bloomberg News, hours after US federal aviation regulators issued a warning to airlines and other aviation-industry companies. The carrier didn’t immediately identify the type of parts ...

BLOOMBERG Coty Inc raised its sales outlook for the current fiscal year, citing continued robust demand for higher-end fragrances. The maker of Burberry and Gucci fragrances now sees like-for-like sales growth of 8% to 10% in the fiscal year that started in July. That’s up from the 6% to 8% sales-growth forecast the company gave in August. Sales are expected ...

BLOOMBERG Lamborghini is capitalising on the demand for indulgence in South Korea, with sales of its iconic sport cars poised to surpass last year’s record. “The Korean market is developing really fast,”said Francesco Scardaoni, the regional director for Lamborghini’s Asia-Pacific business, at an event to mark the automaker’s 60th anniversary. During the four-day event in Gangnam, an affluent area of ...

BLOOMBERG This may sound familiar: Morgan Stanley analyst Adam Jonas makes an extraordinarily bullish call on the future of Tesla Inc and the shares go on a wild binge. It happened in 2015, and it’s happening again. The problem is investors fear we’re seeing a replay — because after eight years Jonas’ last call has yet to be proven correct. ...

BLOOMBERG Three years and nearly $1 billion later, Wells Fargo & Co is finally playing offense in one of Wall Street’s hottest battlegrounds: wealth management. The banking giant is trying to lure hundreds of independent advisers to join its platform as part of a larger push to expand the firm’s business catering to rich clients, according to Barry Sommers, who ...

BLOOMBERG Apple Inc’s latest iPhones and watches went on sale on September 22, a test of whether a new smartphone design and modest smartwatch changes can help return the company to growth. The devices are going on sale in about 40 countries in its first wave, including in Australia, Hong Kong, mainland China, the US, UK and France. The iPhone ...

AL AIN/ WAM H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, has attended a reception at Saif Muftah Al Neyadi’s house in the Umm Ghafa area of Al Ain to celebrate the return of Al Neyadi’s son, UAE astronaut Sultan Al Neyadi, from his six-month mission to ...

FUJAIRAH/ WAM H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, has stressed the role of cultural events in highlighting Arab and Islamic arts through various expressive tools and techniques. Such events enhance the significance of arts in society, especially among children and youth, preserve the UAE’s social and religious heritage and promote it across the ...