The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

  Bloomberg Denim maker Levi Strauss & Co is scaling up investment in its stores and website, as well as women’s apparel, to reach a sales target of $9 billion to $10 billion by 2027. In a new set of strategic targets, Levi now sees sales growth of 6% to 8% annually, up from its prior goal of 4% to …

  Bloomberg Lady M is weighing a new funding round that could value the New-York based bakery chain at about $600 million, according to people familiar with the matter. The company, known for its signature Mille Crepes cakes, is looking to raise about $20 million to fuel its expansion in Asia, said the people, asking not to be identified discussing …

Bloomberg US index futures fall after a report that Tesla Inc Chief Executive Officer Elon Musk said the electric carmaker needs to cut staff amid a gloomy economic outlook. Investors are also awaiting key US payrolls data that they will study for clues on the pace of Federal Reserve policy tightening. Tesla shares slid 4.2% in New York premarket trading. …

  Bloomberg Even better-than-expected earnings haven’t been enough to stem this year’s rout in software stocks, and now the sector is getting hit with another headwind: the stronger dollar. Salesforce Inc, one of the last big tech companies to report first-quarter earnings, surprised investors with a bullish forecast this week. Overall, 85% of software companies in the S&P 500 reported …

Bloomberg Delta Air Lines Inc fell, leading declines across the airline industry, after saying fuel and a decrease in flying capacity are driving costs higher than what the carrier had expected, overshadowing an otherwise upbeat forecast. Costs for each seat flown a mile, an industry gauge of efficiency, will be up as much as 22% this quarter compared to 2019 …

  Bloomberg Vistara, an Indian joint venture of conglomerate Tata Group and Singapore Airlines Ltd, has been fined after a first officer landed a passenger flight without completing required training. The incident, which occurred during a landing in the central Indian city of Indore, was a serious violation that endangered the lives of passengers on board, according to a senior …

  Bloomberg Sri Lanka is recommending airlines carry enough jet fuel to last return trips or fill up elsewhere, as the island grapples with a shortage of everything from oil to food due to a foreign-exchange crisis. “We’ve asked airlines to carry the required fuel while operating to Sri Lanka, because there is a shortage of aviation fuel, and we …

  Bloomberg Europe is pulling in huge quantities of jet fuel as people get ready to take to the skies in droves this summer. The region sucked in more than 13 million barrels of jet-type fuel in May, the highest monthly imports since October 2020, according to data from Vortexa compiled by Bloomberg. Consumption is forecast to surge this summer …

  Bloomberg Canada’s transport regulator has ruled that low-cost carrier Flair Airlines Ltd is “Canadian” enough to continue operating flights in the country. The discount airline has made changes to its structure and now “meets the incorporation and voting interest requirements” required by law, Canadian Transportation Agency said in its final determination. The regulator said in its preliminary determination that …

Bloomberg Hong Kong’s retail sales surprisingly rebounded in April, lifting the sector out of contraction after strict Covid curbs hammered consumer spending earlier this year. Sales value rose 11.7% in April from a year earlier, the Census and Statistics Department said. That was far better than the median estimate of a 7.9% decline expected by economists in a Bloomberg survey. …