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Bloomberg JC Penney Co showed some signs of progress in its recovery effort over the holiday season, though a sixth straight quarter of declining sales show it still has a way to go. The company’s same-store sales results that weren’t as bad as analysts had expected, fell 7% in the fourth quarter. That’s compared with a drop of 7.5%, the ...

Bloomberg Walmart Inc named Jamie Iannone as its chief operating officer (COO) for US e-commerce, the latest reshuffle in its senior management ranks. Iannone, who joined Walmart in 2014, was previously running the web, membership and marketing operations of the retailer’s wholesale subsidiary Sam’s Club, according to a memo obtained by Bloomberg News. At Sam’s Club, he spearheaded several initiatives ...

Bloomberg The world’s biggest companies have started sounding the alarm. From Apple Inc. to Microsoft Corp., the corporate world has seen a sharp increase in profit warnings about a financial hit from the coronavirus in the past two weeks. But that may be just the tip of the iceberg, with the biggest blow to sales and supply chains mainly confined ...

ABU DHABI / WAM The second phase of Marking Tobacco and Tobacco Products Scheme is set to commence on March 1, with the scheme aiming to utilise latest digital solutions to boost efficiency of tax control systems and, in turn, support UAE’s transition to a knowledge-based economy in line with the National Agenda. The Federal Tax Authority (FTA), reaffirmed its ...

Bloomberg US and Taliban officials signed a peace deal aimed at winding down the war in Afghanistan after more than 18 years of fighting that turned into the longest conflict in American history. Secretary of State Michael Pompeo led a US delegation that signed the agreement with Taliban leaders. The deal — which followed a seven-day reduction in violence — ...

Bloomberg French oil company Total SA is among the final bidders for a stake in an offshore wind farm that may cost more than $7 billion to develop and operate, according to people familiar with the matter. The move is significant because it highlights growing interest from major oil companies in renewables assets. It also would be the first facility ...

Bloomberg State Grid Corp of China started construction of a $2.6 billion ultra-high voltage project that will deliver electricity to the virus-hit province of Hubei. The move by the country’s biggest power distributor is in response to the government’s call to accelerate construction of major energy projects as Chinese leader Xi Jinping seeks to stabilize economic growth, State Grid said ...

Bloomberg Sports-car maker Porsche AG intends to offer more green debt to support its 6 billion-euro ($6.6 billion) investment in electric vehicles. The Volkswagen AG unit will stick with green financing after selling a record 1 billion-euro green Schuldschein last year, according to Wolfgang Ratheiser, vice president for corporate finance and treasury. It has for now ruled out raising potentially ...

Bloomberg Spin, the scooter-sharing service owned by Ford Motor Co, is expanding to new markets outside of the US. The company will launch its first international fleet of electric scooters in Cologne, Germany, as soon as the spring, according to a statement. It will start with several hundred scooters and plans to increase the number quickly, though pricing hasn’t been ...

Bloomberg iDreamSky Technology Holdings Ltd is in advanced talks with buyout firm CVC Capital Partners to jointly acquire gaming firm Leyou Technologies Holdings Ltd, according to people familiar with the matter. iDreamSky, which counts Tencent Holdings Ltd among its investors, has been in exclusive talks with Leyou’s controlling shareholder since late last year, Bloomberg News previously reported. Leyou later confirmed ...