Bloomberg Indian tycoon Mukesh Ambani bought a stake in a high-end fashion brand, run by a stylist to some of Bollywood’s biggest stars, as Asia’s richest person continues to expand into luxury retail. Reliance Brands Ltd bought 40% of MM Styles Ltd, which owns Manish Malhotra’s eponymous fashion house, the company said in a statement. The privately-held brand was launched ...

Bloomberg Italia Trasporto Aereo (ITA), the state-owned successor to Alitalia, is positioning itself for an investment from a major airline that could come as soon as the end of next year, according to Chairman Alfredo Altavilla. The new Italian carrier, which started operations after its predecessor shut down, is too small to survive as a standalone company, Altavilla said in ...

Bloomberg A consortium led by Hungary’s government has offered about 4 billion euros ($4.6 billion) for full control of Budapest Airport, according to people familiar with the negotiations. The latest bid, after an earlier one this year was rejected as undervaluing the hub, is being considered by the airport’s owners, according to two people who asked not to be identified ...

Bloomberg China’s Civil Aviation Administration ordered five domestic and foreign airlines to suspend some flights from Monday after multiple coronavirus cases were found on board, it said. The carriers included Air China Ltd, which had six infections detected on an inbound flight from Frankfurt to the northeastern city of Changchun, the administration said in the statement. KLM Royal Dutch Airlines, ...

Bloomberg Swedish home-furnishings giant Ikea gave a bleak outlook for the retail industry, saying it expects shortages from the supply-chain crisis to remain an issue through the middle of next year. “The biggest challenge has been getting products out of China, where there has been a very limited capacity,” Chief Executive Officer Jon Abrahamsson Ring of Inter Ikea, the worldwide ...

Bloomberg Southeast Asian countries have agreed to exclude the Myanmar’s junta leader from a big ticket summit later this month, a rare and decisive move to hold the regime accountable for worsening civil strife in the country and refusing to engage with its political opponents. Myanmar, controlled by a military junta led by Min Aung Hlaing since a February coup, ...

Bloomberg Venezuela’s government pulled out of a round of negotiations with the political opposition set to begin on Sunday in Mexico to protest the extradition of a close ally of President Nicolas Maduro to the US. “The government is suspending its participation in the negotiation and dialogue roundtable,” said Jorge Rodriguez, president of the government-controlled National Assembly and chief of ...

Bloomberg China tested a nuclear-capable hypersonic missile that circled the globe before speeding towards its target, the Financial Times reported, citing people familiar with the event. The test in August showed China has made more progress on hypersonic weapons than US officials realised, according to the report, which didn’t identify the people familiar with the test. The missile missed its ...

Bloomberg The murder of a UK lawmaker has focused attention on “Prevent,” a program designed to identify people at risk of becoming radicalised, as well as on how to combat “corrosive” online discourse. UK Home Secretary Priti Patel said on Sunday the counter-terrorism program is undergoing an independent review. The suspect in the deadly stabbing of Conservative MP David Amess ...

Bloomberg Former UK Health Secretary Matt Hancock’s appointment to a United Nations special envoy role has been scrapped. “Mr Hancock’s appointment by the UN Economic Commission for Africa is not being taken forward,” UN spokesperson Stephane Dujarric told PassBlue, a news website that specialises in UN coverage, adding “ECA has advised him of the matter.” In an appointment letter to ...