Bloomberg Samokat, Russia’s biggest instant grocery-delivery service by orders, is aiming to be the first of its peers to take a share of the booming US market. The founders of the St Petersburg-based company are launching the service, to be called Buyk, in August in New York. They are targeting 10,000 orders a month there by year-end. “We understand that …

Bloomberg France’s Safran SA is considering building an engine-repair facility in India, after winning its biggest-ever turbine deal last month with joint venture partner General Electric Co. The project would be aimed at customers of the venture, CFM International, which was selected by IndiGo, the nation’s top airline, to supply engines for 310 new Airbus SE A320-family aircraft. A final …

Bloomberg Icelandic startup Play Air Hf reported strong bookings for the coming weeks as it started operations with a flight to London Stansted airport. Sales for the latter part of July and August are particularly healthy, fuelled by demand from locals eager to head south for a vacation after more than a year of coronavirus lockdowns, according to CEO Birgir …

Bloomberg British online food retailer Ocado Group Plc has settled its bitter legal fight with one of its co-founders, after he obtained confidential information to help set up a rival business. Ocado sued Jonathan Faiman as well as his business partner Jon Hillary, who also previously worked for the company, and their business Project Today Holdings Ltd for breach of …

Bloomberg The owner of former Sears stores is looking to sell as many as 50 properties as it tries to generate cash and focus on the development of other sites it owns. Seritage Growth Properties, a real estate investment trust that emerged from the Sears bankruptcy, wants to unload 40 to 50 sites that “were less interesting in terms of …

Bloomberg Chinese banks’ stockpile of foreign-currency deposits has surpassed $1 trillion for the first time, creating an opportunity for Beijing to allow greater freedom for capital to flow out of the country. The pool has been growing as surging demand for Chinese goods during the pandemic has beefed up foreign earnings of exporters, while the resilient economy and strengthening currency …

Bloomberg Citigroup Inc is taking another step into the world of cryptocurrencies. The Wall Street giant will help its richest clients bet on crypto as part of a new digital assets group inside its burgeoning wealth management unit, according to a memo to staff seen by Bloomberg News. The new effort will be led by Alex Kriete and Greg Girasole. …

Bloomberg Visa Inc has agreed to buy Swedish open-banking platform Tink AB as the payment giant looks to expand beyond its card network. San Francisco-based Visa said it will pay a total of 1.8 billion euros ($2.15 billion) — including cash and retention incentives — to acquire the fintech firm, according to a statement. Banks and startups use Tink to …

Bloomberg The Bank of Korea (BOK) once again looks set to spearhead Asia’s first interest-rate hikes, after Governor Lee Ju-yeol said policy normalisation is in the pipeline this year, triggering a recalibration of market bets. As pandemic-era stimulus runs the risk of inflating asset bubbles and spurring more volatility in capital flows across the region, several central banks have stressed …

Bloomberg Mexico’s central bank is seen holding its key interest rate at a five-year low, as policy makers expect that recent price shocks will prove to be transitory. The bank, known as Banxico, unanimously voted to keep borrowing costs at 4% in its last two meetings, after inflation hit 5.9% in May — far above the bank’s 4% target ceiling. …