Bloomberg The Spanish government has found that airlines aren’t complying with European Union rules for reimbursements over cancelled trips, according country’s Consumer Ministr Alberto Garzon. “Airlines aren’t giving travelers the chance to request reimbursements,” Garzon said in an interview with state-tv TVE. Government has made a legal request for a “court to investigate the situation,” he said, adding that he …

Bloomberg Rolls-Royce Holdings Plc plans to eliminate 3,000 jobs in the UK this year, the first wave of cuts that could ultimately see the jet-engine maker emerge from the downturn a much smaller business. The London-based manufacturer said it expects to trim a total of 8,000 positions from the aviation division. This would make up the bulk of the 9,000 …

Bloomberg China’s central bank said it will temporarily purchase loans made to small businesses from some local banks, a new policy to boost the supply of lending to the real economy. The plan will use 400 billion yuan ($56 billion) from a separate program to buy 40% of unsecured loans to small and medium-sized firms with maturities of at least …

Bloomberg The two British institutions that dominate Hong Kong’s banking system backed Beijing in the standoff over a proposed new security law, joining Jardine Matheson Holdings Ltd. and some of the city’s biggest developers in wading into the political minefield of the former colony’s future. HSBC Holdings Plc, born in the 19th century as the Hongkong and Shanghai Banking Corp., …

Bloomberg Bank of America Corp. (BofA) pledged to donate $1 billion over the next four years to address economic and racial inequality that’s has worsened during the coronavirus pandemic. The funds will be directed to programs that focus on health, jobs, small businesses and housing, particularly in communities with many people of colour, the bank said. Those efforts may include …

Bloomberg British banks are flooding the economy with billions in loans every week as the demand for emergency funding for businesses persists. Lenders have so far issued over 31.3 billion pounds ($39 billion) to more than 745,000 businesses through government-backed schemes, according to UK Finance which represents finance and banking firms in London. As of May 31, banks have lent …

Bloomberg Philippine central bank governor Benjamin Diokno said the monetary easing implemented against coronavirus was appropriate, and that further action will depend on the economic recovery. “Right now, we’re happy where the current policy rate is,” Diokno said in an interview with Bloomberg. Monetary authorities are ready to use all the tools at their disposal, but are likely to do …

Bloomberg The Bank of England (BOE) repeated that lenders should plan for the possibility that the UK won’t reach a deal with the European Union (EU) before the Brexit transition period is complete at the end of this year. In a rare public statement on the talks, the central bank said Wednesday that a no-deal Brexit was “one of a …

Bloomberg The stock rally powered by bets on a speedy global economic recovery from the pandemic paused for breath on Thursday as equities struggled in Europe and Asia. The dollar climbed after five consecutive sessions of declines. The Stoxx 600 Index opened lower for the first time this week, hours before the European Central Bank announces its policy decision. Futures …

Bloomberg Indian equities dropped on Thursday as investors paused for breath after the longest winning run since November. The S&P BSE Sensex and NSE Nifty 50 Index fell 0.9% each as of 12:39 pm in Mumbai, after earlier rising as much as 0.6% each. Both gauges are still trading close to their highest in almost three months — levels seen …