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You’ve got to feel for Mark Liu. The chairman of Taiwan Semiconductor Manufacturing Co. (TSMC) just wants to make chips. And he does; the best chips for the best companies in the world. Unfortunately, one of his clients is Huawei Technologies Co. So it’s not surprising that the world’s largest contract chipmaker has found itself in something of a pickle. ...

Bloomberg Southwest Airlines Co and American Airlines Group Inc said they will remove the 737 Max from their flight schedules through early March — almost a year since Boeing Co’s best-selling jet was grounded worldwide after two deadly crashes. The plan to pull the plane from Southwest’s schedule through March 6 is due to “continued uncertainty around the timing of ...

Bloomberg British Airways parent IAG SA will almost halve its planned expansion, reducing expected earnings growth, as it responds to slowing economies and a glut of seats that’s depressed prices. IAG, which also owns Spain’s Iberia, Aer Lingus of Ireland and discount operators Vueling and Level, will now increase capacity by 3.4% a year in the 2020-2022 period, it said. ...

Bloomberg Deutsche Lufthansa AG is stepping back from a commitment to buy 14 Boeing Co 777X wide-body jets valued at $6.2 billion as it slows fleet growth in an effort to cut capital spending and rein in capacity. Announced as a regular order six years ago as part of a 34-jet deal, the aircraft have been re-designated as “options,” Lufthansa ...

Bloomberg A judge has permanently blocked the union representing Allegiant Travel Co pilots from threatening a strike or staging a work slowdown in a dispute over a work scheduling system. A magistrate judge in a federal district court in Nevada signed a final order in the case. The ruling resolves a case in which Allegiant claimed a threatened walkout by ...

Bloomberg No longer the khaki king of the ’90s, Gap Inc has been in need of an overhaul for a very long time — and Art Peck won’t be the one to deliver it after all. Gap fired its chief executive officer after his turnaround efforts failed to reignite sales growth, with disappointing third-quarter performance sending shares plummeting in late ...

Abu Dhabi / WAM The UAE’s Supreme Council of the Union has re-elected His Highness Sheikh Khalifa bin Zayed Al Nahyan as its President for a fourth five-year term, in accordance with the provisions of the UAE Constitution. The Supreme Council of the Union expressed its deep confidence in the wise leadership of President His Highness Sheikh Khalifa, and wished ...

Bloomberg Chinese state-owned entities are in talks about investing a combined $5 billion to $10 billion in Aramco’s initial public offering (IPO), people with knowledge of the matter said. The Beijing-based Silk Road Fund is among parties that have been in discussions to buy stock in the offering, according to the people, who asked not to be identified because the ...

DUBAi / WAM The 2019 edition of the Islamic Banking Index by Emirates Islamic demonstrates significant progress made by the Islamic banking sector across parameters, with Islamic banking penetration reaching its highest level since the inception of the Index five years ago. Top-line findings of this year’s milestone edition of index indicate the sector continues to widen its appeal to ...

Bloomberg Oil held near a six-week high as signs of another increase in US crude reaffirmed the prevailing view that global markets are comfortably supplied. Futures added 0.2% in New York after rising 5.6% over the past three sessions. The American Petroleum Institute reported that crude stockpiles increased by 4.26 million barrels last week, according to people familiar with the ...