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Bloomberg Deutsche Lufthansa AG’s CEO Carsten Spohr criticised competitors for offering unprofitable ultra-cheap fares as a price war squeezes industry earnings. Tickets costing less than 10 euros ($11) are “economically, ecologically and politically irresponsible,” he said in an interview with the Swiss newspaper NZZ am Sonntag. “Flights for less than 10 euros shouldn’t exist.” Europe’s two biggest low-cost carriers are …

Bloomberg It hasn’t replaced Christmas, but Amazon’s Prime Day is becoming a holiday testing ground for toy companies. Toymakers including Mattel Inc and MGA Entertainment Inc are using the e-commerce giant’s annual sales event to roll out new products and learn more about customers ahead of the critical holiday season. For the first time, Mattel is gearing up for a …

Bloomberg Luxury department store Barneys New York is considering a bankruptcy filing, Reuters reported, citing unidentified people familiar with the matter. The retailer is working with Kirkland & Ellis LLP to prepare for a potential bankruptcy that could come in the coming weeks, Reuters cited one of the people as saying. Barneys has not yet made a final decision and …

Bloomberg Walmart Inc has a hole to fill at its online unit, and whoever assumes the role faces a big challenge ahead. The company is searching for a new chief revenue officer for its US e-commerce business, who would work under online leader Marc Lore to help map out its battle plan against Amazon.com Inc, Target Corp and other rivals. …

Bloomberg Oil capped its best week since mid-June as Tropical Storm Barry gained strength, approaching refineries in Louisiana and leaving deserted offshore platforms on its path. Futures in New York gained 4.7 percent for the week after prices held above $60 a barrel for a third day. Forecast to make landfall as a hurricane early Saturday, Barry has already curbed …

Bloomberg Japan and South Korea bickered over the details of rival briefings about export-control talks on Saturday as the US backed away from a potential role as a mediator in a fight over history and trade between its two Asian allies. Officials at Japan’s Ministry of Economy, Trade and Industry held a press conference at which they denied an assertion …

DUBAI / Emirates Business Dubai Land Department (DLD) announced the launch of a new real estate initiative known as ‘Real Estate Lawyer’ in partnership with Al Tamimi & Company. The agreement outlining the details of the initiative was drafted to facilitate growth in the real estate market by providing greater support for real estate investors and encouraging further foreign investor …

Bloomberg Volkswagen AG and Ford Motor Co will cooperate on electric and self-driving car technology, sharing costs on a global scale to take a major step forward in the industry’s disruptive transformation. VW will invest $2.6 billion in Ford’s autonomous-car partner Argo AI in a deal that values the operation at more than $7 billion, the two manufacturers said in …

Bloomberg Spotify Technology SA released a new version of its music streaming app for customers in emerging markets, an effort to grow outside of its strongholds in the US and Europe. The Spotify Lite app, which runs on Android phones, will appeal to users who are limited by data plans and slower networks, the company said in a statement. The …

Bloomberg Two of Britain’s six biggest utilities pledged to switch their entire vehicle fleet to run on electricity by 2030, adding momentum to the shift away from traditional engine technology. Centrica Plc operates the third-biggest company owned fleet in the UK, with 12,500 cars and vans. SSE Plc has 3,500 vehicles and also said it will install charging points for …