Bloomberg Standard Bank Group Ltd is in talks with Industrial and Commercial Bank of China (ICBC) to exit the two banks’ UK-based joint venture and focus on growing operations on its home continent. ICBC Standard Bank was created in 2015, when the company sold a 60% stake of its London-based Global Markets business to Chinese giant. The combination sought …

  Bloomberg Chinese technology giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd. have lost more than $1 trillion in combined market value since the selloff in Hong Kong stocks began 13 months ago. The two tech powerhouses account for more than half of the $2.1 trillion in total losses for Hang Seng Tech Index members since the gauge’s February …

  Bloomberg European stocks retreated as investors braced for tomorrow’s expected Federal Reserve policy tightening and weighed the impact of soaring inflation on economic growth. The Stoxx Europe 600 slumped 2% at 8:56 am in London. Miners fall the most, with commodities retreating as coronavirus outbreaks in China threaten to disrupt the country’s economic recovery. Consumer products and services as …

  Bloomberg Apple Inc shares fall, closing below their 200-day moving average for the first time since June, after the iPhone maker’s supplier Foxconn halted operations at its Shenzhen sites following a government-imposed lockdown. Shares dropped as much as 2.7%, ending at their lowest since November. The decline erased more than $67 billion off Apple’s market capitalisation, putting it under …

  Bloomberg The UK held exploratory talks with Electricite de France (EDF) SA about the possibility of keeping the West Burton A coal-fired power plant generating beyond the end of September, when it’s due to close. The talks are at a very early stage, according to a person familiar with the matter. As things stand, EDF is running down stockpiles …

  Bloomberg San Miguel Corp will build two gas-fired power plants in central Philippines for $1.14 billion) as the nation’s largest conglomerate shifts away from coal. Indirect subsidiary Prestige Power Resources Inc will construct a 600-megawatt combined cycle gas plant in Leyte province for 41.5 billion pesos, while another indirect unit Reliance Energy Development Inc is planning a 300-megawatt plant …

  Bloomberg Bermuda’s Civil Aviation Authority removed all aircraft tied to Russia from its airworthiness registry, exposing hundreds of jetliners owned by foreign leasing firms to devaluation. “International sanctions on the aviation sector have had a significant impact on the ability to sustain safety oversight on Russian-operated aircraft,” the authority said on its website. The agency said it’s “unable to …

  Bloomberg Australia and the Netherlands started legal proceedings against Russia over the downing of Malaysia Airlines Flight MH17, more than seven years after the deadly crash. The move, at the International Civil Aviation Organization, comes after Russia “unilaterally” ended negotiations with the two countries and comes as well as the national prosecution of four suspects in the crash, according …

  Bloomberg Navi Technologies Ltd, the fintech startup founded by technology billionaire Sachin Bansal, has filed initial documents for a 33.5 billion-rupee ($440 million) initial share sale, a sign India’s technology startup industry hasn’t fully lost IPO momentum. Navi’s IPO will consist entirely of new shares, according to its draft prospectus, meaning that all proceeds will be plowed directly back …

  Bloomberg South African carrier Comair Ltd remained grounded after being suspended indefinitely by the country’s aviation regulator pending a review of concerns raised about safety. The operator of IAG SA-owned British Airways (BA) flights in the country and the domestic low-cost airline Kulula has provided a response that is being reviewed, the Civil Aviation Authority said. The ruling follows …