Bloomberg The Australian central bank’s No. 2 official warned that current threats to the global rules-based trading system were a major risk to both his country’s economy and the world’s. Australia has been a key beneficiary of global trade, as its current account approaches its first surplus since the 1970s, Deputy Governor Guy Debelle said in Canberra. The local currency ...

Bloomberg China’s yuan is headed for a record monthly plunge as an intensifying trade war with the US damages investor confidence. The currency has plummeted 3.9% this month against the dollar, the biggest loss since January 1994, when the modern exchange-rate regime was adopted. The slump past the 7 level for the first time since the financial crisis comes as ...

Bloomberg Colombia has no leeway to join central banks around the world that are lowering interest rates to bolster growth, according to Ana Fernanda Maiguashca, a member of the central bank board. “Our inflation outlook, while not alarming, just doesn’t give us much space to provide greater stimulus to the economy,” Maiguashca said in a telephone interview. Central banks in ...

Bloomberg The stock market is starting to look good again to JPMorgan Chase & Co. After August’s sell-off, the time to buy stocks is approaching, strategists led by Mislav Matejka wrote in a note, saying equities will move higher starting with an up trend in September. Benchmarks including the S&P 500 Index, the Stoxx Europe 600 Index and the MSCI ...

Bloomberg A Berlin-based fintech company backed by Goldman Sachs Group Inc. is acquiring one of its crosstown rivals as it tries to capitalise on the 12 trillion euros pension and retirement savings market in Europe. Raisin, originally a marketplace for bank-savings products, is buying 100% of Fairr’s share capital in exchange for Raisin shares as well as cash. Fairr, co-founded ...

Bloomberg Hundreds of people gathered in Hong Kong to demand Cathay Pacific Airways Ltd rehire workers who left the troubled carrier after supporting the city’s pro-democracy protests, in a case that has raised fears about dwindling free speech in the former colony. A crowd convened in the city’s Central business district, not far from the headquarters of Swire Group, the ...

Bloomberg Debt-laden UK travel giant Thomas Cook Group Plc secured the backing of its lending banks and bondholders for a $1.1 billion bailout led by Chinese investor Fosun Tourism Group. Fosun will provide half of the total in return for control of Cook’s tour-operator arm and a stake in its airline, the London-based holiday firm said. Banks and noteholders will ...

Bloomberg American Airlines Group Inc is stepping up damage-control efforts with customers who have suffered multiple delays or cancellations as flight disruptions linger from a work slowdown by mechanics and bag handlers. Operations have improved each month since June, Kerry Philipovitch, senior vice president-customer experience, said at an aviation conference in Las Vegas. That’s when a federal court issued a ...

Bloomberg Uganda Airlines made an inaugural flight to neighbouring Kenya, reviving a national carrier founded by former dictator Idi Amin and liquidated almost two decades ago. The carrier, initially founded in 1976 and wound up in 2001, plans commercial flights to major cities in Kenya, Tanzania, South Sudan and Somalia, Cornwell Muleya, a technical adviser at the carrier, said by ...

Bloomberg Struggling pizza maker Papa John’s International Inc appointed Arby’s President Rob Lynch as chief executive officer, naming an outsider as it further breaks from its controversial founder John Schnatter. Lynch, a fast-food industry veteran, will replace Steve Ritchie. It’s the biggest shakeup since activist shareholder Starboard Value set its sights on the pizza company. In a statement, Chairman Jeff ...