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ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Katalin Novák of Hungary on her country’s National Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice ...

BLOOMBERG Estée Lauder Cos gave a profit outlook that fell short of estimates, a sign the beauty company expects continued struggles in its crucial travel retail business in Asia. The owner of the MAC and Tom Ford brands said it sees those struggles causing a net loss as well as a sales decline of 10% to 12% in the current ...

BLOOMBERG Sales of SlimFast, the meal replacement shakes, have dropped in the US as people turn to new blockbuster weight-loss drugs instead. Consumption of Slimfast was down 33% in the 12 weeks to July 16 compared with a year earlier, according to Glanbia Plc, the owner of the brand, which released its first-half earnings statement. Injectable drugs to help people ...

BLOOMBERG US aviation regulators outlined inspections needed for potentially faulty parts on some of Pratt & Whitney’s geared turbofan engines that power Airbus SE’s best-selling A320neo model. The directive affects 20 engines on US-registered aircraft, according to a regulatory filing by the Federal Aviation Administration (FAA). The impact on the worldwide fleet will be larger as other nations adopt the ...

BLOOMBERG American Airlines Group Inc sued the travel website Skiplagged, which claims to help passengers save money using loopholes in ticket pricing that the airline alleged are bogus. Skiplagged isn’t authorised to sell American tickets and is deceiving customers into thinking they can book a cheaper flight using “hidden city fares,” according to the federal lawsuit filed in Texas. The ...

BLOOMBERG Amazon.com Inc is imposing a new fee on merchants who don’t use the company’s logistics services, a change many of these sellers consider coercive and surprising since the US government is poised to file an antitrust lawsuit against the e-commerce giant. Thousands of third-party merchants who ship products via Amazon’s Seller Fulfilled Prime program will start paying a 2% ...

BLOOMBERG Alibaba Group Holding’s e-commerce arm in China is hiring more than 2,000 graduates amid record youth unemployment and as authorities eased their regulatory crackdown on technology platforms. Taotian Group, the unit which includes Taobao and Tmall, is recruiting the graduates for a range of roles including design, product and data, according to a post on its official recruitment Wechat ...

BLOOMBERG Hon Hai Precision Industry Co now expects 2023 sales to fall after previously forecasting flat revenue, sounding a warning about demand for the devices it makes for Apple Inc and other global firms. Taiwanese company now expects most of its main business segments, including smartphones, to contract “slightly” this quarter and over the entire year, as global economic malaise ...

BLOOMBERG Ola Electric Mobility Pvt is expanding its electric two-wheeler lineup — with its first motorbike and cheapest scooter yet — as it seeks to lure buyers away from gasoline-fueled transportation. The Bengaluru-based startup unveiled four premium electric motorbikes, with sales and deliveries starting in December, at an event at its Ola Future Factory in the southern state of Tamil ...

BLOOMBERG Tesla Inc added new lower-range iterations of the Model S sedan and Model X sport utility vehicle to its lineup that cost $10,000 less than their previous base prices. The Standard Range Model S starts at $78,490 and offers an estimated 320 miles (515 kilometers) of range, while the Standard Range Model X is priced from $88,490 and goes ...