Bloomberg Citigroup Inc trading revenue is set to drop this quarter amid volatility that gripped markets for most of August, while a top Bank of America Corp executive said his traders are “doing OK” in the period. Investment-banking revenue at Citigroup is also likely to decline from a year earlier, Chief Financial Officer Mark Mason said at an investor conference. ...

Bloomberg China’s crackdown on Cathay Pacific Airways Ltd has raised questions about the government’s insider at the carrier: Air China Ltd. State-run Air China has quietly owned almost 30 percent of Cathay for more than a decade, giving the national flag carrier a ringside view of the Hong Kong airline’s worldwide operations. Restrictions imposed on Cathay by China’s aviation regulator ...

Bloomberg Kenya Airways Plc said it will cut flights in the next few weeks because cancellations, resulting from a shortage of pilots, cost the carrier an estimated $50 million annually. The airline has 435 pilots but requires 497, Director of Operations Paul Njoroge said in a letter to the Kenya Airline Pilots Association (Kalpa), a copy of which Bloomberg has ...

Bloomberg British Airways pilots forced the cancellation of almost all flights on the second day of a strike on Tuesday as their union called on management to make new pay proposals to resolve the dispute. The unit of IAG SA — which says the walkout is costing it about $49 million a day — scrubbed more than 1,600 departures and ...

Bloomberg Climate change may lead to large swings in the incomes of US retail workers, according to a new study published by the Federal Reserve. In the analysis published this month, Fed economist Brigitte Roth Tran suggested that income inequality could increase as retail employees whose pay or hours are tied to sales find their work affected by more volatile ...

Bloomberg Amazon.com Inc is bringing its Prime membership programme to Brazil in an effort to leapfrog competitors and gain traction in a country where it has been expanding slowly but surely. To start, Amazon Prime Brazil will be a scaled-down version of the US subscription service, offering free unlimited shipping for about 500,000 products out of the 20 million Amazon ...

SAINT PETERSBURG / WAM International tourist arrivals grew 4 percent from January to June this year, compared to same period last year, according to the latest UNWTO World Tourism Barometer published ahead of 23rd World Tourism Organisation General Assembly. Growth was led by the Middle East (+8 percent) and Asia and the Pacific (+6 percent). International arrivals in Europe grew ...

Abu Dhabi / WAM The National Petroleum Construction Company (NPCC), a part of the UAE’s Senaat, on Monday, signed Memorandums of Understanding (MoUs), with two leading entities in China’s energy sector at the 24th World Energy Congress in Abu Dhabi, in order to explore joint collaborative opportunities in both onshore and offshore oil and gas sectors, as well as other ...

Bloomberg Car sales in India suffered their biggest monthly drop on record, as the slump in the country’s auto sector shows no sign of letting up. Deliveries slid 41% in August from a year earlier to 115,957 units, while sales of passenger vehicles including SUVs fell 32%, according to data released by the Society of Indian Automobile Manufacturers on Monday. ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received the Chairman of the Board and Chief Executive Officer of Total, Patrick Pouyanné, at Qasr Al Bahr Majlis on Monday. Pouyanné was accompanied by Dr Sultan bin Ahmad Sultan Al Jaber, Minister of ...