Bloomberg Scandinavia’s biggest financial conglomerate, Nordea Bank AB, says a Swedish proposal to increase bank fees for a crisis fund may force it to move its headquarters away from Stockholm as efforts to find common ground with the government stall. “This isn’t a bluff. This is dead serious,” Rodney Alfven, head of investor relations, told Bloomberg on Wednesday. “Our ...

  Bloomberg Turkish Airlines is targeting a return to its earlier pace of gains in passenger numbers by next year as the effects of terrorism and political turmoil wane after causing a loss in 2016. Turkish Airlines will post a ‘moderate’ increase in passenger numbers this year and ‘from 2018 onwards, we will be seeing our historical growth rates,” Chairman ...

  Bloomberg Low-cost airlines targeting inter-continental routes have come and gone since the days of UK entrepreneur Freddie Laker’s trans-Atlantic Skytrain service in the 1970s. But a new generation of discounters equipped with more-efficient jets and using the Internet to tap markets closed to their forerunners is set to endure, challenging the long-haul dominance of network carriers, International Air Travel ...

  Dubai / Emirates Business Dubai Aerospace Enterprise (DAE) Ltd. announced it has completed the purchase of a portfolio of ATR 72-600 aircraft from GE Capital Aviation Services (GECAS). This purchase brings the total number of owned and committed ATR 72-600 aircraft in DAE’s fleet to 57, making DAE one of the largest lessors of the ATR 72-600 worldwide. In ...

  HONG KONG / AP Hong Kong’s Cathay Pacific Airways posted its first annual loss in almost a decade, blaming it on tough competition from rival airlines, slowing Chinese economic growth and a stronger currency. The airline said that it lost 575 million Hong Kong dollars ($74 million) in 2016 compared with a HK$6 billion profit the year before. The ...

  Tribune News Service Special to Emirates Business A jewel and luxury fashion industry leader for more than 110 years is once again looking for a suitor. After reporting its sixth consecutive quarter of sales declines, Dallas-based Neiman Marcus said that it’s exploring all options, including a sale of the company. A sale has been rumored for some time. Saddled ...

  FRANKFURT / AP German airline Lufthansa has reached a preliminary agreement on a labor deal with its pilots that would cut pension liabilities and bar strikes through 2022. Lufthansa’s drawn-out talks with the Vereinigung Cockpit union have led to several costly stoppages that disrupted hundreds of flights. Lufthansa’s labor relations head, Bettina Volkens, on Wednesday called the deal a ...

  MADRID / AP Zara fashion brand owner Inditex says strong sales and expansion of new stores boosted net profit in the past fiscal year by a 10 percent. The world’s largest clothes retailer said that net profit for the 12 months ending January 31 rose to 3.16 billion euros ($3.35 billion) from 2.88 billion euros ($3.06 billion) a year ...

  Bloomberg Microsoft Corp. officially rolled out its Teams workplace-collaboration software, counting on integration with its ubiquitous Office and Outlook programs and partnerships with popular business software makers such as SAP to challenge Slack Technologies Inc. for big corporate customers. Teams, in preview mode since November, is now widely available in 181 markets, Microsoft said Tuesday. Already 50,000 Office 365 ...

  Bloomberg Wu Xinhong, co-founder and chief executive officer of Meitu Inc., became the second billionaire at the Chinese beauty-enhancing selfie app developer after the stock rose for nine straight days. The shares extended gains since it was added to a second equity-trading link between China’s Shenzhen exchange and Hong Kong on March 6, and jumped 11 percent to a ...