Bloomberg UBS Group AG is beefing up the ranks of senior executives at its securities joint venture in China after taking majority control late last year, hiring five managing directors for the investment banking business, said a person with knowledge of the matter. Shen Dehua, most recently investment banking head of HSBC Holdings Plc’s Qianhai securities venture, joined UBS Securities ...

Bloomberg Australian central bank chief Philip Lowe kept his head below the parapet by keeping interest rates unchanged less than two weeks out from an election, saying lower unemployment is needed to drive faster inflation. Lowe left the cash rate at 1.5 percent — where it has stood since he took the helm in September 2016 — after economists and ...

Bloomberg The European Central Bank’s (ECB) outgoing chief economist has some parting words for his colleagues on the Governing Council: be careful when planning your future strategy. Peter Praet, whose term ends this month, dived into the debate over whether the ECB needs to revisit its interpretation of price stability, which it sees as keeping inflation just under 2 percent. ...

Bloomberg IndiGo is in talks with Airbus SE for another large plane order in a sign Asia’s biggest budget carrier has no intention of letting up on a blistering pace of expansion. The Indian airline, which adds an aircraft to its fleet every week, is in discussions to buy a longer-range version of the European planemaker’s newest narrow-body jet, according ...

Bloomberg Deutsche Lufthansa AG is bidding for the German airline of tour operator Thomas Cook Group Plc and may expand the offer to include the group’s entire portfolio of aircraft. The deadline for non-binding offers for Condor, which is based near Frankfurt, expires Tuesday, CEO Carsten Spohr said at Lufthansa’s annual shareholder meeting in Bonn, in remarks confirmed by a ...

Bloomberg Hudson’s Bay Co said it’s pursuing strategic options for the struggling Lord & Taylor chain, including a potential sale or merger, as the Canadian retailer refocuses on its best performing units such as Saks Fifth Avenue. CEO Helena Foulkes says the move “is another example of how we are exploring options to position HBC for long-term success.” Hudson’s Bay ...

Bloomberg Faced with lawsuits over a plane crash half a world away, Boeing Co is arguing it shouldn’t have to defend itself in a courtroom a short walk from its corporate headquarters. The world’s largest planemaker has indicated in court filings that it’s likely to request that cases on behalf of victims in the October crash of a 737 Max ...

Bloomberg Amazon.com Inc, seeking to portray itself as a job creator fueling small-business innovation rather than an out-of-control corporate beast that needs to be tamed, said it helped mom-and-pop companies create 1.6 million jobs in 2018, up from 900,000 the year before. The company released a report, during National Small Business Week, for circulation to elected officials as part of ...

DUBAI / WAM The UAE and Saudi Arabia have reviewed the latest prospects of cooperation in the field of infrastructure development. This came during the five-day meetings held by the joint project teams of the Emirati-Saudi Coordination Council in Riyadh where a summary of the projects charted by the Saudi Ministry of Infrastructure Development, and the efforts of both countries ...

DUBAI / Emirates Business Emaar Development achie-ved one of the highest quarterly sales during the first quarter (January to March) of 2019 underpinned by the exceptional sales of residences launched by the company. The total sales for the period increased by 51 percent to AED 5.902 billion ($1.607 billion) compared to Q1 2018 sales of AED3.908 billion ($1.064 billion). Emaar ...