Bloomberg Wall Street giants such as JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc. would face new limits on credit exposure to other large financial firms under a Federal Reserve plan aimed at ensuring banks won’t take others with them if they fail. The proposal, which would limit such exposures to 15 percent of a lender’s Tier ...

New York / AFP Mid-sized and regional airlines in the US are suffering from a pilot shortage that could threaten the health of the broader US aviation industry. The labour shortfall has led to cancelled flights at carriers like Mesa Airlines and Silver Airways. That has hit smaller airports, such as in Redding, California, or Erie, Pennsylvania, according to figures ...

Brasilia / BLOOMBERG Embraer SA reported fourth-quarter profit that fell short of analysts’ estimates as the company made a 390.6 million-real ($100.3 million) provision related to Republic Airways Holdings Inc.’s bankruptcy filing. The Brazilian planemaker said net income attributable to controlling shareholders rose 76 percent to 425.8 million reais, trailing the 527.5 million-real average estimate for adjusted earnings of seven ...

TOKYO / Bloomberg Shareholders of Tokyo-based Lotte Holdings Co., a key unit of Korean-Japanese retail conglomerate Lotte Group, voted to oppose a measure to remove Chairman Shin Dong Bin at an extraordinary general meeting on Sunday. Family-controlled Lotte Group is in the midst of a power struggle between Shin Dong Bin and his older sibling who was stripped of his ...

Bloomberg David Bonderman’s TPG Capital cut the value of its stake in struggling clothing retailer J. Crew Group Inc. by 84 percent at the end of 2015. The private equity firm, which led a 2011 leveraged buyout of the company, told investors that its $478.6 million equity holding in J. Crew was lowered to $76 million, according to documents obtained ...

Hong Kong / Bloomberg Crude oil’s plunge to the cheapest level in more than a decade helped the global airline industry boost profit forecasts. One airline that hasn’t fully benefited is Cathay Pacific Airways Ltd. The marquee Hong Kong airline reported an unrealised fuel-hedging loss of HK$7.42 billion ($954 million) as of end-June — and oil prices have slumped a ...

Sunaina Rana / EMIRATES BUSINESS An architectural triumph acting as the centerpiece of Yas Island, Yas Viceroy Abu Dhabi hovers over land and water and spans the Yas Marina Circuit, the favoured racetrack for Formula 1 legends. Beneath the hotel’s light canopy, Yas Viceroy presents guests with a new perspective for a resort, perched between city sophistication and jet-setting island ...

Our Correspondent / EMIRATES BUSINESS Montres Corum is a Swiss watchmaker based in La Chaux-de-Fonds, was founded in 1955, it makes high-quality and high-price watches. Following the luxury brands popularity around the globe, Corum collaborated with Ahmed Seddiqi and Sons and Al-Fardan Jewellery to enter UAE market. With more than 15 years’ experience in this field, first with Bvlgari then ...

ABU DHABI / WAM Mehdi Al Idrissi, the FAO Representative in the UAE and Sub-regional Coordinator for the GCC and Yemen, has commended the role of the UAE in promoting food security locally, regionally and globally. He praised the country’s efforts in strengthening the role of the United Nations and international organisations in general and FAO in particular. Idrissi told ...

ABU DHABI / WAM Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), has revealed that total operating revenues of the Dubai Taxi Corporation (DTC) at the RTA reached AED 1.481 billion in 2015 compared with AED 1.311 billion reported in 2014. The total profits posted by the DTC last ...