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Bloomberg Marks & Spencer Group Plc investors are increasingly pessimistic about the UK retailer after it announced a joint venture with tech startup Ocado Group Plc to deliver grocery orders in the UK and boost its food business. M&S shares have fallen 34 percent since the company said that it will finance the deal with a rights offer and dividend ...

Bloomberg Heathrow management made an eleventh-hour offer to a union representing thousands of ground staff, leading to the suspension of a planned strike on Tuesday which would have disrupted flights at Europe’s busiest airport. The Unite labour group will take the improved offer to members for a vote and hold off on plans for a walkout, according to a statement ...

Bloomberg Tesco plans to cut 4,500 jobs as the supermarket operator slims down hundreds of stores and adds to the mounting toll on employment in UK shopping districts. Britain’s biggest retailer said it will streamline operations at its 153 medium-size Metro stores in city centers, while reducing opening hours at 134 Express convenience stores. The moves announced come on top ...

Bloomberg American Airlines Group Inc and Southwest Airlines Co are trumpeting new efforts to cater to lucrative business travellers. Southwest, which pioneered a discount strategy aimed at budget flyers, will give corporate travel managers greater control over bookings. American is wooing them with free preferred seats and priority access through security checkpoints. The moves, announced at the Global Business Travel ...

SHABWA/ WAM The United Arab Emirates through its humanitarian arm — the Emirates Red Crescent (ERC) — has provided relief aid to people affected by heavy floods in Merkhah As Sufla District in Shabwa, Yemen. The ERC team distributed 800 food baskets to 4,720 citizens and provided shelter camps for Yemenis whose homes were damaged by the floods. The move ...

ABU DHABI / WAM To boost Abu Dhabi’s cyber security capabilities, Abu Dhabi Digital Authority (ADDA) held the Cyber Defence Challenge in partnership with cybersecurity solutions firm Trend Micro. The challenge aims to strengthen the protection of servers and hybrid cloud data centres of Abu Dhabi’s organisations. The initiative comes in line with the ADDA’s key strategy to collaborate with ...

Dubai / Emirates Business The value of apparel sales in the UAE amounted to $12.3 billion in 2018, registering an annual growth rate of about 4.8 percent, while the sector is expected to see stronger performance over the 2019-2023 period, new analysis released by Dubai Chamber of Commerce and Industry has revealed. The analysis, based on recent data from Euromonitor ...

Bloomberg Oil slid as escalating trade tensions between the US and China prompted investors across financial markets to flee risk assets, though West Texas Intermediate pared losses after a report signaled an inventory drop at America’s main storage hub. Futures fell in London and New York after posting a loss last week. The dispute between the top major economies is ...

Dubai / Emirates Business Global trade enabler DP World has announced its renewed partnership with the Emirates Golf Federation (EGF), as it continues to support the growth of golf by investing in grassroots talent development as well as the elite game, paving the way for aspiring youngsters to become future international stars. The announcement signals the fourth year that funding ...

Dubai / WAM Low-income patients unable to afford treatment for bladder and lung cancer will receive medication supplied by AstraZeneca, following the signing of a new agreement between the Ministry of Health and Prevention (MoHAP) and the pharmaceutical company. This Ministry of Health recently signed a Memorandum of Understanding (MoU) with the multinational biopharmaceutical company, which will also benefit patients with ...