Bloomberg Avon Products Inc was ordered by a California jury to pay $10.3 million in punitive damages to a woman who blamed her cancer on talc in its cosmetics, in the first such case the company has lost in US litigation. The Los Angeles Superior Court jury that punished Avon for hiding the risks that some of its talc-based …

Bloomberg American Airlines Group Inc said it will wind down its partnership with Mesa Air Group Inc on concern about reliability at the regional airline, which has been struggling to hire pilots during an industry-wide shortage. “Mesa Airlines has experienced various financial and operational difficulties this year,” Derek Kerr, American’s chief financial officer, said in a memo. “We have concerns …

  Bloomberg Kenya’s government is prepared to sell its entire stake in the East African nation’s loss-making airline, newly elected President William Ruto said. “I’m willing to sell the whole” of Kenya Airways Plc, Ruto said in an interview on the sidelines of the US-Africa Leaders Summit in Washington. “I’m not in the business of running an airline that just …

  Bloomberg Airlines are coping with a calendar quirk that’s prompting more fliers to book flights on either side of December, creating an air pocket in the last month of the year. The US Thanksgiving holiday on November 24 was the earliest its been since 2018, prompting more travellers to take a return trip the same month — unlike in …

  Bloomberg Baristas at an experimental Starbucks-Amazon Go store in New York narrowly rejected union membership, the latest setback for the US labour movement. The workers, who legally work for Starbucks Corp, requested a union election because they said the tie-up between the coffee chain and Amazon.com Inc doubled their workload with no additional pay. The vote was very close, …

  Bloomberg Zambia is looking to sell a Gulfstream G650ER jet bought for the presidency for $194.9 million in 2019 as it seeks to cut costs. President Hakainde Hichilema pledged to offload the plane once elected, and hasn’t used it since taking office in August last year, opting rather for commercial flights or an older presidential jet. The previous administration …

  Bloomberg Initial public offerings are heading for their longest drought since the global financial crisis — and bankers don’t expect a revival anytime soon. A mix of rising inflation and interest rate hikes aimed at taming it have hurt stock market valuations and eroded investor appetite for the high-growth IPO candidates that have driven deals in recent years. Just …

  Bloomberg Bitcoin dropped back below $17,000 and several smaller cryptocurrencies referred to as altcoins posted significantly steeper declines as concern increases that the digital-asset market’s woes are far from over. The largest token dropped as much as 3.7% to $16,762. Bitcoin reached its highest price since Sam Bankman-Fried’s crypto empire filed for bankruptcy last month. Ether declined as much …

Bloomberg A cofounder of the OneCoin pyramid scheme pleaded guilty to his role in the global, multibillion-dollar fraud. Karl Sebastian Greenwood admitted OneCoin, which he founded in 2014 with Ruja Ignatova, the so-called “Cryptoqueen,” was based on a phony cryptocurrency. Greenwood, who was arrested in Thailand in 2018 and extradited to the US, pleaded guilty to three criminal counts of …

  Bloomberg The Bank of Japan (BOJ) in the coming week is widely expected to stick with the negative interest rates that set it apart from the world’s other major central banks. At the decision due on Tuesday, Governor Haruhiko Kuroda will reiterate his out-of-sync stance that monetary stimulus must stay in place to secure lasting inflation. That’s in contrast …