Bloomberg Etihad Airways PJSC has no plans to take a stake in Deutsche Lufthansa AG, though the carriers are exploring the possibility of expanding their recent cooperation agreement, according to James Hogan, the company’s chief executive officer. Asked if Abu-Dhabi-based Etihad would be buying Lufthansa, for which it has been touted as a possible investor, Hogan replied “no.” The ...

  Bloomberg Cathay Pacific Airways Ltd., Asia’s biggest international airline, said it will eliminate some positions after conducting a critical review of its business in a bid to arrest a decline in earnings. “The competition is here to stay and the uncertainty is the ‘new normal’ – we must simply respond,” the Hong Kong-based carrier said in a statement Wednesday ...

  Bloomberg Amazon.com Inc. and India’s Flipkart Online Services Pvt have walked away from talks to acquire Dubai-based Souq.com after disagreeing over price, according to two people with knowledge of the matter. The e-commerce business is now seeking other potential investors and is negotiating with mall-operator Majid Al Futtaim, one of the people said, asking not to be identified as ...

  Bloomberg British trenchcoat maker Burberry Group Plc said business in Asia-Pacific returned to growth and it enjoyed an “exceptional” boost at home in the UK as the lower pound drew shoppers, the second positive sign in a week for Europe’s struggling luxury-goods industry. Third-quarter retail revenue rose 4 percent on a currency-neutral basis, the London-based company said on Wednesday, ...

  Washington / Reuters Wal-Mart Stores Inc will create about 10,000 jobs in the United States this year as part of a previously announced plan, it said, as President-elect Donald Trump puts pressure on companies to hire more US workers. The world’s largest retailer joined companies like General Motors Co and Amazon.com Inc, which have rushed to announce their plans ...

  Washington / Reuters A drone photography company that was the subject of the highest-profile attempt by a U.S. regulator to enforce aviation law on unmanned aircraft has agreed to pay a $200,000 fine to settle a 2015 case. SkyPan International Inc., whose website still features aerial photos of urban areas where drone flights are prohibited without special permission, had ...

  Bloomberg Goldman Sachs Group Inc. reported fourth-quarter earnings that beat analysts’ estimates on a surge in bond-trading revenue as Donald Trump’s surprise victory fueled speculation economic growth will accelerate. Net income rose to $2.35 billion, or $5.08 a share, from $765 million, or $1.27 a year earlier, when the lender set aside $1.54 billion to pay a mortgage settlement, ...

  LONDON / Reuters Citigroup hired former British foreign minister William Hague to be a senior adviser to the Wall Street bank, as Britain prepares to negotiate its exit from the European Union. Banks and investment firms have a long history of recruiting former political leaders and policymakers as advisers, and the appointment of Hague follows that of Mervyn King, ...

  Bloomberg UBS Group AG’s Sergio Ermotti said he expects to add $50 billion in assets across wealth management and asset management this year as low interest rates limit how much new business the bank takes on. “We are very selective in the way we onboard net new money in terms of profitability,” he said in an interview with Bloomberg’s ...

  Bloomberg Deutsche Bank AG told senior employees on Wednesday that most of them won’t get an individual bonus for last year because of the lender’s performance. The decision affects vice presidents, directors and managing directors, as well as members of the management board, who will forgo their variable compensation, Frankfurt-based Deutsche Bank said Wednesday in a memo. A “limited ...