Bloomberg Devas Multimedia Pvt, a company seeking over $1.2 billion it won in international arbitration from India, has joined Cairn Energy Plc in seeking to seize Air India Ltd’s assets abroad. Calling the flagship airline an “alter ego” of the Indian state and therefore liable for the sovereign’s debts, Devas filed a petition in New York asking Air India to …

Bloomberg United Airlines Holdings Inc is overhauling its fleet with the biggest jetliner order in company history and an ambitious upgrade for its aircraft cabins, bolstering a push to appeal to more travelers willing to pay for pampering. The airline agreed to buy 200 Boeing Co 737 Max jets and 70 Airbus SE A321neo planes, a deal valued at about …

Bloomberg Apparel maker Hela Clothing plans an initial public offering on the Colombo Stock Exchange within 12 months to raise capital for entry into North Africa and the expansion of its East African operations. The Sri Lanka-based manufacturer for PVH Corp — the parent company of fashion brands Tommy Hilfiger and Calvin Klein — will offload a 20% stake for …

Bloomberg European stocks dropped with US futures on Wednesday as risks from a highly infectious coronavirus strain appeared to outweigh growing confidence in the global economic recovery. The Stoxx Europe 600 Index declined 0.7%, with cyclical shares bearing the brunt of the losses. Airlines struggled as fears of the more contagious Delta variant continue to spur tourism curbs in the …

Bloomberg Asia’s stock listing aspirants will likely face a less generous market following a first-half sales boom, as bubbly valuations and nervousness about US monetary policy make investors more cautious. Firms in Asia have raised $82 billion through initial public offerings so far this year, the most ever for a first half, and beating the previous record of $63 billion …

Bloomberg Boeing Co is finalising a set of three safety enhancements to the engines on its popular 737 Next Generation models to prevent debris from escaping during a failure, according to US regulators. The Federal Aviation Administration (FAA) outlined the fixes in a letter to the National Transportation Safety Board (NTSB). The NTSB had recommended improvements in the engine designs …

Bloomberg A bad bank in India that’s expected to launch this month may help reduce one of the world’s worst bad-loan piles but market participants say it’s a long path ahead. The new institution, which is set to start operations by the end of June, is likely to handle stressed debt worth $27 billion over time, according to a BloombergQuint …

Bloomberg HSBC Holdings Plc has lost about a third of its debt capital markets team covering Chinese state-owned enterprises, a sign the bank is still struggling to win back favor in Beijing three years after becoming embroiled in geopolitical spats between China and the West. The departures in recent weeks include two managing directors, John Hai and Jiang Song, who …

Bloomberg New Zealand’s central bank may end its quantitative easing bond purchases in coming months as it prepares to raise interest rates, according to the Bank of New Zealand. Financial markets are now pricing a better than 50% chance that the Reserve Bank will increase its official cash rate in November, BNZ strategist Nick Smyth wrote in a note to …

Bloomberg UBS group will permanently allow as many as two-thirds of its employees to adopt a hybrid model of working from home and the office, according to a person familiar with the plans, as it seeks a competitive recruitment edge over some US banks taking a more hardline approach. The lender’s move is being led by CEO  Ralph Hamers. The …