Bloomberg Kering SA’s Gucci faces a possible backlash for showing straitjackets, meant to make a statement about self-expression and not to be sold in stores, at Milan Fashion Week. Model Ayesha Tan Jones held up “Mental Health Is Not Fashion” on her hands on her way down the runway. She then posted on Instagram that straitjackets symbolise “a cruel time …

Bloomberg When Thomas Cook Group Plc began dangerously hurtling toward collapse early last week, Transport Secretary Grant Shapps ordered up a contingency plan: Operation Matterhorn. The effort aimed to safeguard the return of UK tourists should the company indeed go under. But the massive undertaking also betrayed the thinking that had taken root in the Brexit-hardened cabinet: that the company …

ABU DHABI / WAM Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and Chairman of the National Media Council, said that relations between the UAE and Saudi Arabia set an exemplary model for brotherly relations in the region, reinforced by the leadership of both countries. In a statement on the occasion of the 89th Saudi National Day, the …

ABU DHABI / WAM The Abu Dhabi-based global investment firm, Mubadala Investment Company, on Monday announced that it has signed an agreement to invest up to AED 1.84 billion ($500 million) in Cologix, the network-neutral interconnection and hyperscale edge data centre company, subject to various regulatory approvals. The transaction will provide significant investment for Cologix for growth in both the United …

Bloomberg The UK is set to open the first contest in a decade intended to draw as much as $25 billion of investment in offshore wind farms. The move in a competitive auction for leases where developers can plant large-scale turbines at sea will bring at least 7 gigawatts of new power generation capacity to the UK grid and speed …

Bloomberg Deutsche Bank AG finalised a deal transferring its business with hedge fund clients to BNP Paribas SA as part of the German lender’s historic retreat from investment banking. About 1,000 Deutsche Bank employees will move to the French rival through 2021, according to people with knowledge of the matter. Ashley Wilson, one of two executives at the German bank …

Bloomberg South African banks are urging clients to use digital channels as the industry prepares for what could be its biggest strike since 1920. “Banks will be operating as usual on the day,” the Banking Association South Africa said. Lenders “are taking the necessary precautions to minimiwe disruption” related to the proposed protest action by the South African Society of …

Bloomberg After a decade of being regulators’ favourite target, the world’s biggest banks now pose less of a risk to the economy than before the financial crisis, according to the Bank for International Settlements (BIS) said in its latest quarterly review, which was released Sunday. At the same time, these banks became less critical to the overall financial system, it …

Bloomberg Bangladesh stocks headed for the biggest gain in 17 months after lenders were allowed to borrow from the central bank to invest in equities. Bangladesh Bank allowed commercial banks to borrow at 6 percent using repurchase agreements, it said in a statement. The DSE Broad Index jumped as much as 2.3 percent in Dhaka, set for the biggest jump …

Bloomberg A made-in-Zurich banking drama spilled out into the open after it emerged that ex-top Credit Suisse Group AG banker Iqbal Khan had been shadowed by the lender, leading to a confrontation in broad daylight in the Swiss financial capital. The private banker, hired by crosstown rival UBS Group AG last month, was followed by detectives trying to establish if …