Marks & Spencer Group Plc said it plans faster delivery of online orders and will make products more available as it targets 1 billion pounds ($1.6 billion) of e-commerce sales and addresses two decades of underinvestment.
British Airways parent IAG closed in on a deal to buy Deutsche Lufthansa AG’s U.K.-based BMI unit as it seeks a bigger share of the lucrative business-travel market at London Heathrow airport after third-quarter profit slumped.
Richard Branson’s Virgin Atlantic Airways Ltd. is seeking to trump a bid from arch-rival British Airways for Deutsche Lufthansa AG’s BMI unit after persuading the German carrier to grant due diligence for a rival offer.
Deutsche Lufthansa AG’s British subsidiary BMI said a second, European, bidder is in the running to buy its Bmibaby discount division, a month after disclosing that an unidentified U.K.-based company had made an offer.
IAG, the owner of British Airways and Spain’s Iberia, said it’s closing in on the purchase of Deutsche Lufthansa AG’s BMI unit following a counterbid from U.K. billionaire Richard Branson’s Virgin Atlantic Airways Ltd.
Deutsche Lufthansa AG, Europe’s second-largest airline, hasn’t decided yet if it wants to sell its U.K.-based BMI unit and remains focused on “restructuring” the money-losing carrier, a spokesman said.