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Berlin / AFP German retail giant Metro said on Thursday that profits rose strongly in the first quarter, helped by strong Christmas business and gains from divestments. Metro, which runs its business year from October to September, said in a statement that bottom-line net profit rose by 36 percent to 549 million euros ($620 million) in the three months to ...

Bloomberg Spending on business aircraft fell 3.1 percent last year as a commodities downturn crimped demand for long-range jets in emerging markets. Companies and wealthy individuals spent $18.7 billion on private jets, according to the General Aviation Manufacturers Association. The report is adjusted because Bombardier Inc. hasn’t reported fourth-quarter results yet. Sales of large-cabin planes, such as Bombardier’s Global 5000, ...

AUSTIN/ AP Whole Foods says its sales at established locations slipped in its fiscal first quarter and forecast the figure to be flat to down 2 percent for the year, as it works to keep prices down and fend off rivals. The Austin, Texas company noted that its comparable store sales have been “particularly difficult to predict” given the competitive ...

DETROIT / AP Tesla Motors posted its 11th straight quarterly loss, and its results badly missed Wall Street’s forecasts. But the electric car maker’s shares soared anyway on news that its lower-priced Model 3 sedan is on schedule to be released next year. Tesla said it will unveil the much-anticipated $35,000 car on March 31 and expects to start production ...

Bloomberg Boeing Co. plans to cut jobs in its commercial airplane division, the company’s largest business, as part of cost reductions intended to improve competitiveness. The planemaker will first seek to trim executive and managerial positions, Ray Conner, chief executive of the Boeing unit, told employees in a webcast. Involuntary cuts may be necessary as a last resort in addition ...

AFP The Berlin-based vegan food retailer Veganz is looking to treble sales this year and is eyeing a possible stock market listing in 2018, its founder said in a magazine interview. “People cannot get enough of our products,” Veganz chief Jan Bredack told the weekly WirtschaftsWoche. Last year, Veganz clocked up annual sales of 24 million euros ($27 million) and ...

AFP Adidas said on Thursday that it performed better than expected in 2015 and is confident for this year, even if the US market still appears to be something of an Achilles’ heel for the German maker of sportshoes and equipment. “Based on preliminary unaudited figures for 2015, the Adidas group exceeded its top- and bottom-line financial targets in the ...

Musavir Wani / EMIRATES BUSINESS Gaurav Aidasani is a second generation entrepreneur. He has extensive experience working across various new-age technologies. Known for successful execution, his name is well-respected in the corridors of Internet, digital marketing, web-technologies, digital media buying, ecommerce and advertising. Aidasani started his entrepreneurial journey in 2006 and was awarded with the young entrepreneur award. He is ...

Daria Solovieva / Bloomberg Gulf Arab equities trimmed their worst January in seven years after oil capped its second weekly advance. Dubai’s DFM General Index led gains in the region, climbing to the highest in more than three weeks as the number of shares traded was almost double the six-month average. Abu Dhabi’s ADX General Index had the biggest increase ...

DUBAI / WAM The UAE Cabinet retreat on post-oil phase concluded on Sunday. Federal and local government officials took part in the retreat and discussed ideas and initiatives that will contribute in diversifying the UAE’s economy and ensuring its sustainability. Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and His Highness ...