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Bloomberg Payless Inc. is liquidating its US and Puerto Rico stores and shutting down its online operations as the upheaval in the retail industry claims its latest victim. The discount shoe chain is starting liquidation sales on February 17, and expects the stores to remain open until at least the end of March, according to a statement. The company was ...

Bloomberg The news started coming thick and fast even before the sun was up over Airbus SE’s headquarters in the French city of Toulouse. There was a lot to digest: earnings, writedowns, cancelled and shifted orders, and not least the landmark decision to end production of the A380 doubledecker, an albatross of a plane that had hung awkwardly around the ...

ADELAIDE / WAM The United Arab Emirates Space Agency (UAESA), signed a Memorandum of Understanding (MoU), with the Australian Space Agency, which aims to promote the exchange of best practices, knowledge sharing and enhance cooperation and collaboration between both parties in support of space research and technology The MoU was signed at the Australian Space Agency in Lot Fourteen, Adelaide, ...

Abu Dhabi / WAM The UAE Armed Forces awarded AED4.971 billion in contracts on the first day of the International Defence Exhibition and Conference (Idex 2019), and Naval Defence and Maritime Security Exhibition (Navdex 2019), with the lion’s share of deals going to national companies. Speaking at a press conference Staff Brigadier-General Mohammed Al Hassani, Official Spokesperson of Idex 2019, ...

Bloomberg Saudi Arabian Military Industries and France’s Naval Group SA entered a joint venture (JV) to develop vessels in the kingdom, which seeks to promote local manufacture of armaments. The Saudi government-backed firm will hold a 51 percent stake and the French naval defense company will have the rest. The new company will develop, engineer and manufacture frigates, corvettes and possibly ...

Bloomberg A $7.5 billion liquefied natural gas (LNG) project in East Canada focussed on Europe is seeking to get the go-ahead this year. Pieridae Energy Ltd is targeting the milestone known as a final investment decision after having lined up buyers for the fuel, mainly in Europe. If approved it would add to LNG supplies into northwest Europe, which has ...

Bloomberg In the wake of last month’s Federal Reserve gathering, traders have been left with as many questions as answers when it comes to the fate of the central bank’s balance sheet. Next week may finally provide some clues on where the runoff goes from here. The holiday-shortened week will be light on economic data but heavy on Fed signals. ...

Bloomberg The debate over the trajectory for corporate profits reached a crescendo this week, with two widely followed Wall Street strategists clashing over whether an earnings recession is imminent. Just days after Morgan Stanley’s Mike Wilson announced the S&P 500 profits would turn negative for the first six months of 2019, Brian Belski at BMO Capital Markets said such fears ...

Bloomberg Deutsche Bank AG has decided that none of the more than $4 billion it promised to spend on consumer relief after the global mortgage crisis will go to distressed US homeowners, according to a report by the monitor of the 2017 settlement. Instead, the consumer-relief money will be spent on originating new loans, according to the February 13 report ...

Bloomberg Standard Chartered Plc and BNP Paribas SA are among about a dozen banks likely to be added as co-managers for Saudi Aramco’s landmark international bond sale, people with knowledge of the matter said. Two Japanese lenders — Mitsubishi UFJ Financial Group Inc., Mizuho Financial Group Inc. — as well as Samba Financial Group and Gulf International Bank BSC are ...