Bloomberg As an Air India flight landed at the airport in Wuhan last month to rescue Indians stranded in the coronavirus-hit city, Captain Kamal Mohan couldn’t help but think that he had entered a post-apocalyptic film set. “It was frightening,” Mohan said in an interview. “It’s a massive airport, so just imagine not seeing a soul. You’d think a zombie ...

Bloomberg Vistara, the Indian affiliate of Singapore Airlines Ltd, will become the country’s first carrier to offer in-flight Wi-Fi and streaming services on its new Boeing Co 787 Dreamliners, in what could boost its ambitions as a premium airline in one of the world’s busiest markets. Passengers will be able to access sites like Facebook and messaging service WhatsApp, as ...

Bloomberg Macy’s Inc was cut to junk by S&P Global Ratings, which said the department-store chain falls on the wrong side of changing consumer preferences. The company’s credit rating was lowered one notch to BB+ from BBB-, S&P said in a statement, citing its “excess stores.” The outlook is stable. Macy’s shares extended losses after the announcement. “Pressure is mounting ...

Bloomberg Bed Bath & Beyond Inc is selling its PersonalizationMall.com business amid efforts to slim down, renew focus on its core home-furnishings business and reverse years of stagnant sales. The company agreed to sell the online personalised gift company for $252 million to 1-800-Flowers.com, it said. PersonalizationMall.com will continue to provide products and services to Bed Bath & Beyond and ...

Bloomberg US equity futures advanced with European stocks on Wednesday after signs emerged that China may be planning further measures to support its economy reeling from a virus-induced slowdown. The yen weakened. Contracts on the three main US stock gauges pointed to a positive start on Wall Street after Bloomberg reported that China’s latest moves to aid growth include possible ...

Bloomberg India’s stock benchmark rose, rebounding from its lowest close in more than two weeks, as investors assessed the extent that the coronavirus outbreak may affect the economic outlook. The S&P BSE Sensex Index climbed for the first day in five, adding 1.1% to close at 41,323 in Mumbai. The NSE Nifty 50 Index posted the same gain. India’s government ...

Bloomberg The pound rose after inflation accelerated, fuelling expectation that the Bank of England (BOE) will hold off lowering interest rates for the foreseeable future. Sterling cemented its position above $1.30, snapping two days of declines versus the dollar after annual inflation picked up for the first time in six months. The currency has also been given a boost by ...

Bloomberg The International Monetary Fund (IMF) reiterated that global economic growth appears to be bottoming out, though also cautioned that risks including the coronavirus dominate the outlook. “After a marked slowdown last year, global economic activity is expected to moderately strengthen in 2020,” the IMF said in a surveillance note released on Wednesday. “Monetary and fiscal policy actions were instrumental ...

Bloomberg Metro Bank Plc handed its interim chief executive officer (CEO) the reins, months after the struggling lender’s previous boss resigned in the wake of an accounting scandal. Dan Frumkin, who has led the bank on an interim basis since the start of the year, takes over the London-based lender’s permanent role with immediate effect. Frumkin, 55, joined the business ...

Bloomberg UBS Group AG hired private-wealth advisers who oversaw $6 billion in assets for Goldman Sachs Group Inc. The team, headed by Denis Cleary and Gregory Devine, has clients in more than 25 US states and will maintain offices in Boston and Los Angeles, UBS said in a statement. “Known for being one of the largest teams in the country ...