Bloomberg US aviation regulators downgraded the safety ranking of Pakistan’s civilian airline system in the latest action following revelations that hundreds of commercial pilots received faked licenses. The Federal Aviation Administration’s action adds another hurdle to Pakistan International Airlines Corp’s ability to operate into the US, effectively blocking any carrier from that country from adding flights. The US Transportation Department ...

Bloomberg China’s projection of its military might into Asian waters and North Korea’s modernisation of its ballistic-missile arsenal pose risks to Japanese and regional security, the Japanese Ministry of Defense said. In its annual white paper released on Tuesday, the ministry accused China of “relentlessly’ pushing its way towards uninhabited East China Sea islands claimed by the two countries, saying ...

Bloomberg German Chancellor Angela Merkel showed a united front with Italy’s Giuseppe Conte days ahead of a crucial European Union summit, warning that EU leaders need to deliver a “massive” response to the economic fallout of the coronavirus pandemic. The German leader’s common line with the Italian prime minister was a sales pitch in favor of a proposed 750 billion-euro ...

Bloomberg An ambitious voter registration effort from Facebook has rankled President Donald Trump’s re-election campaign, which is complaining that the social network’s goal of registering 4 million voters in time for November’s election is an attempt to swing the election in favor of former Vice President Joe Biden. “With knowledge of every user’s political ideology, Facebook is officially in the ...

­­­Bloomberg Croatia and Bulgaria may join the euro area in January 2024, European Commissioner Valdis Dombrovskis said. The two European Union nations were admitted into the currency’s waiting room, known as the ERM-2, last week and must spend at least two years there working to fulfill the Maastricht criteria. They may be ready in 2023, but “the tradition is that ...

Bloomberg As European Union leaders haggle over their critical coronavirus recovery plan, they have an escalating problem in the east they can seemingly do little about. Poland’s presidential election at the weekend laid bare how divided the country is over its relationship with Brussels, with nationalist incumbent Andrzej Duda winning by 51% to 49% against a pro-EU opponent. While it ...

Bloomberg The UK economy expanded much slower than expected in May, underscoring the struggle to recover from the depth of the coronavirus slump. The expansion of 1.8% fell short of the 5.5% pace expected and still leaves the economy almost 20% smaller in the latest three months. While activity has since picked up as lockdown restrictions eased, the UK, along ...

Bloomberg Cellnex Telecom SA is considering bidding for a stake in CK Hutchison Holdings Ltd.’s European wireless tower business, according to people familiar with the matter, as it scouts for new acquisitions. Europe’s largest wireless tower operator is in early-stage discussions about acquiring a minority holding in the CK Hutchison portfolio, the people said, asking not to be identified as ...

Bloomberg Before the bankruptcies came the bonuses: $10 million at J.C. Penney Co., $25 million at Chesapeake Energy Corp., $1.5 million at Hertz Global Holdings Inc. That’s how much was promised to executives only weeks or in some cases days before bankruptcy. Of the 100 or so major companies that have filed since the coronavirus shutdown began, 19 of them ...

Bloomberg The European Union (EU) will recommend keeping its external borders shut to Americans and most other foreigners for at least two more weeks as fears grow of a second coronavirus wave, according to officials familiar with the matter. Member-government envoys in Brussels plan to urge no expansion of a list of 15 countries — Canada, Japan, South Korea and ...