Peugeot may close U.K. plant on Brexit costs

–Peugeot plans to cut all production at its Ellesmere Port plant in the U.K. if the factory becomes unprofitable as a result of Brexit, the FT reports, citing an interview with Chief Executive Carlos Tavares.

–Mr. Tavares said the company has identified an alternative site in southern Europe to take up production of Opel vehicles if it closes Ellesmere Port, the FT says.

Full story: https://on.ft.com/2OpMJ6w

Victoria’s Secret Has More Than a Jeffrey Epstein Problem

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Time isn’t being kind to Victoria’s Secret. The lingerie retailer has a problem with the past and a problem with the future—and that leaves the present in a muddle of controversy.

Jeffrey Epstein is supposed to be history at Victoria’s Secret—and at its parent company, L Brands Inc., for that matter—but he’s that skeleton that keeps rattling around the closet to remind everyone that he once was an all-too-lively part of the business. Epstein had a two-decade-long reign as close confidant, financial manager, and right hand to the corporation’s chief executive officer, Leslie Wexner. He even had the CEO’s power of attorney at one time.

Egypt to form committee to amend value-added tax law -finance minister

CAIRO, July 29 (Reuters) – Egypt will form a committee to amend its value-added tax law, Finance Minister Mohamed Maait told reporters on Monday.

The VAT law is part of a reform programme that formed the basis of a $12 billion, three-year loan agreed with the International Monetary Fund in 2016.

VAT replaced a sales tax and broadened the tax base in a country where the government struggles to collect income tax because of a large informal economy and widespread avoidance. (Reporting by Ahmed Ismail; Writing by Nadine Awadalla; Editing by Catherine Evans)

China's ByteDance, after Smartisan deal, says developing smartphone

SHANGHAI (Reuters) – Chinese social media firm ByteDance Ltd said on Monday it is developing a smartphone, following a deal it made with device maker Smartisan Technology.

Pilgrims to Amarnath Cave pollute Kashmir's water

With little government regulation, rubbish left behind by pilgrims pollutes Kashmir’s main water source.

Hindu pilgrims looking for enlightenment are flocking to a cave in Indian-administered Kashmir in growing numbers.

But environmentalists say the waste they leave behind is threatening the environment.

Al Jazeera’s Charlotte Bellis reports.

United Airlines taking stake in Clear, a biometric clearance company

United Airlines Holdings Inc. wants to help its passengers get through security faster.

United UAL, -0.61% said on Monday that it is taking an equity stake in Clear, a technology company that uses fingerprints and iris scans to verify a traveler’s identity at security checks.

Clear operates at 31 airports in addition to stadiums, arenas and some Hertz Global Holdings Inc. rental car locations. United’s investment will help Clear expand into some of the airline’s largest hubs. Clear will launch at Newark Liberty International Airport and expand at Houston’s George Bush Intercontinental Airport later this summer. The company also is seeking approval from the city of Chicago to open lanes at O’Hare International Airport.

Clear charges most members $179 annually, but United said it would enroll its top-tier frequent fliers free of charge and offer a discount to other members of its loyalty program.

An expanded version of this story is available at WSJ.com

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Chicago’s Lincoln Park Zoo to remain free until mid-century

Chicago’s Lincoln Park Zoo will remain free to all until mid-century under an agreement zoo operators reached with the city’s park district.

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The Lincoln Park Zoological Society, which operates the zoo, and the Chicago Park District, which owns the zoo’s land and buildings on the city’s North Side, extended their operating agreement to Dec. 31, 2049.

Zoological society CEO Kevin Bell says keeping the zoo free is a great thing for the city and for people visiting Chicago.

The zoo has its origins in 1868 with a gift of swans. With about 3.42 million visitors in 2018, Lincoln Park is by far the most popular of Chicago’s museums and nature parks. Of the others, only Shedd Aquarium (1.9 million) and Brookfield Zoo (1.91 million) approached the 2 million-visitor threshold last year.

Komatsu Q1 Profit Down On Weak Sales; Confirms FY View – Quick Facts

Komatsu Ltd. (KMTUY.PK), a Japanese manufacturer of construction, mining, forestry, and military equipment, reported Monday that its first-quarter net income attributable to the company declined 24.6 percent to 47.48 billion Japanese yen from 62.97 billion yen last year.

Operating income declined 22.2 percent from the corresponding period a year ago to 74.76 billion yen, mainly hurt by reduced sales volume and a change in the geographic composition of sales in the construction, mining and utility equipment business.

The operating income margin fell 2.6 percentage points to 12.3 percent.

Consolidated net sales totaled 609.77 billion yen, down 5.6 percent from 646.06 billion yen a year ago.

Further, Komatsu confirmed its forecast for the fiscal year ending March 31, 2020.