Bloomberg The next member of the European Central Bank’s Governing Council from Latvia will be selected through an open competition if Latvian Prime Minister Krisjanis Karins gets his way. The premier is looking for a clean break for the monetary authority, which was tainted by a bribery scandal during the current governor’s 18 years at the helm, he said. Karins ...

Bloomberg Former Reserve Bank of India governor Raghuram Rajan has indicated the political challenges posed by Brexit were the reasons he didn’t apply to head up the Bank of England. In an interview with the BBC, Rajan confirmed he hadn’t sought the position and cited the fact that central banking “has become much more political in recent times” as an ...

Bloomberg The company that brought you free digital maps and email wants to do the same thing for your drone. Wing LLC, an offshoot of Alphabet Inc’s Google, unveiled a new app it calls OpenSky that it hopes will become the basis for a full-fledged air-traffic control system to manage the expected growth of this new class of flying devices. ...

Bloomberg Toyota Motor Corp will lead $3.6 billion in investments that global carmakers have pledged to plow into Indonesia’s electric-vehicle programme in the next five years, Industry Minister Airlangga Hartarto said. The Japanese carmaker’s commitment — it plans to spend $2 billion to build hybrid vehicle plants in Southeast Asia’s largest car market — will help the country triple its ...

Bloomberg Tech-giant Tencent Holdings will partner with BMW to help develop self-driving vehicles in China. The pair began collaborating on what they called BMW Group China High Performance D3 Platform, which is scheduled to begin operations by the end of the year. Tencent operates one of the largest cloud platforms in China, providing services from data storage to online computing. ...

Bloomberg A logistics company partly owned by Related Cos, the developer behind Manhattan’s Hudson Yards, is searching for locations across North America to build its multistory robotic warehouses. Robots — and humans — started working this month at Quiet Logistics’ new 440,000-square-foot (41,000-square-metre) fulfillment centre in the Los Angeles area. It’s the firm’s first property on West Coast, and a ...

Bloomberg EasyJet Plc said a surge in late leisure bookings is lifting ticket prices, aided by a cooler summer in the UK and northern Europe. Revenue per seat, which reflects fares, is higher and sales for the three months through June rose 11 percent from a year ago, Luton, England-based EasyJet said in a statement. A drop in flight cancellations ...

Bloomberg The insolvency administrator of Jet Airways India Ltd is seeking resolution proposals for the grounded airline in a move that may give hope to creditors including State Bank of India. Any expression of interest has to be submitted by August 3, Ashish Chhawchharia, resolution professional, said in a notice published in the Economic Times newspaper. The final list of ...

Bloomberg Asos Plc plunged after the online fashion retailer warned that earnings will slump this year, putting pressure on Chief Executive Officer Nick Beighton as he tries to fix distribution issues and prop up a falling stock price. Profit before tax may fall as much as 71 percent, Asos forecast. Shifting to new technology at US and European warehouses is ...

Bloomberg Amazon.com Inc captured the bulk of online spending during the first 24 hours of its Prime Day event, showing that customers continue to flock to the site for deals despite competing discounts offered by Walmart Inc, EBay Inc and Best Buy. Online shoppers spent more than 10 times as much money on Amazon in the first day than they ...