Bloomberg Investors ready to turn the page on the worst year for equities since the global financial crisis should brace for more pain heading into 2023. That’s the blunt message from top strategists at Morgan Stanley, Goldman Sachs Group Inc. and others, who are warning that stocks face fresh declines in the first half as corporate earnings succumb to …

  Bloomberg London City airport dialed back proposals for more early-morning and Saturday flights in a bid to make its plans to lift capacity by almost 40% more palatable to planning officials and local people. The terminal, favoured by business travellers for its proximity to London’s financial districts, is sticking with an application to raise its annual passenger cap to …

  Bloomberg Rolls-Royce said a new aircraft engine designed to slash carbon production over coming decades is ready to be fired up in ground-based tests. The demonstrator turbine for the so-called UltraFan program has completed assembly and been transported to Rolls’s purpose-built Testbed 80 in Derby, England, where it has been mounted in preparation for activation early next year, the …

  Bloomberg US congressional leaders are poised to exempt two Boeing Co 737 Max models from a new cockpit requirement that would take effect next week, a victory that would help the planemaker avoid an expensive redesign and potentially lengthy certification delays for the jets. Lawmakers were expected to include the controversial provision in the so-called omnibus bill expected to …

  Bloomberg When Serge Brunschwig arrived in Rome almost five years ago to become Fendi’s chief executive, he was confronted with a conundrum: the company was struggling to find skilled workers. The problem left the 62-year-old McKinsey alum taken aback. After all, Italy has always been known for its artisans, from the violin-makers, textile designers and painters of the Renaissance …

  Bloomberg The Adani Group rolled out a digital platform for its airport vertical as the ports-to-power conglomerate, helmed by Asia’s richest person, Gautam Adani, inches closer to unveiling its super app. Adani One, developed in-house, will enable users to book air tickets, check flight status, access lounges, shop for duty-free products, get cabs and avail parking facilities. “We have …

  Bloomberg United Airlines Holdings Inc Chief Executive Officer Scott Kirby met with pilots at a Mesa Air Group Inc training facility, after Mesa said it had ended its partnership with United competitor American Airlines Group Inc. Kirby, whose company already contracts with Mesa for some service, visited amid talks to expand its ties with the regional carrier, Mesa CEO …

  Bloomberg UK Chancellor of the Exchequer Jeremy Hunt delayed a decision on the support businesses will receive for their energy bills after March, sparking consternation from industry groups. While Hunt has extended assistance for domestic energy bills, he’s yet to say how much aid will be provided to companies after the current £18 billion ($22 billion) 6-month program ends. …

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda just gave investors a glimpse of what to expect when the world’s boldest experiment with ultra-loose monetary policy comes to an end. In the face of sustained market pressure, Kuroda shocked markets by saying he’ll now allow Japan’s 10-year bond yields to rise to around 0.5%, double the previous upper limit …

  Bloomberg UK regulators have fined TSB Bank Plc £48.7 million ($59.2 million) for risk management and governance failures after technical failures in the lender’s IT system resulted in customers being unable to access banking services. The lender failed to organise and control an April 2018 IT upgrade adequately, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority said. …