Bloomberg Reliance Communications Ltd., the embattled Indian mobile operator headed by billionaire Anil Ambani, clinched the approval of overseas bondholders to ease its debt burden, putting the company a step closer to averting bankruptcy. RCom, which defaulted last year on its $300-million bond, got 83 percent of the noteholders to approve the plan in London, the company said in an ...

Bloomberg To ease traffic congestion in the Philippines’ main financial centre, there’s no way to go but underground and afloat, said businessman Antonio Tiu, who is leading a venture for one of two subway projects in the capital region. IRC Properties Inc., Tiu’s venture with Chinese and Hong Kong companies for a $3.7 billion underground system in Metro Manila’s Makati ...

Bloomberg Didi Chuxing said it will suspend a carpool service and has removed two executives after a second female customer in three months was allegedly killed by a driver in China. The ride-hailing app company said in an emailed statement on Sunday that it will halt its Hitch service starting on Monday and reevaluate the carpool operation’s business model. Didi ...

Bloomberg Nestle SA’s unit in Japan expects a fledgling business selling nutritional drinks and supplements to aging consumers to grow into a nearly $1 billion business within a decade as the food giant becomes the latest to employ genetics to market food. The world’s biggest food company has seen increasing demand for a Japanese subscription program for nutrition that can ...

Bloomberg Engine glitches that have disrupted Airbus SE A320neo jet operations around the world may take at least three more months to resolve amid a scarcity of upgraded turbines, according to comments from one of the planemaker’s biggest customers, Deutsche Lufthansa. Fixes for the snags afflicting the geared turbofan, or GTF, powerplant made by United Technologies Corp.’s Pratt & Whitney ...

Bloomberg Two of Europe’s biggest carriers, Air France-KLM Group and British Airways, said they’ll suspend services to Iran, citing the reduced commercial viability of the route in the wake of the latest US sanctions. Air France and Dutch sibling KLM will halt flights by the end of September due to “weak commercial results,” the group said. British Airways, IAG SA’s ...

Bloomberg Sears Holdings Corp. continues to clean house, announcing plans to shutter an additional 46 unprofitable stores in November. The struggling chain informed workers at the impacted stores this week, and liquidation sales will begin as early as August 30. The move is “part of our ongoing efforts to streamline Sears Holdings’ operations, strengthen our capital position and focus on ...

Bloomberg United Continental Holdings Inc. is seeing improved average airfares as US rivals offer fewer bargain-basement ticket prices. “It’s not really that fares have gone up much, it’s that the $25, $30 fares that were prevalent a year ago are much more narrow today,’’ United President Scott Kirby said. The improvement is helping United weather higher fuel costs, Kirby said. ...

Bloomberg Ryanair Holdings Plc is locking the cabin door on traditional carry-on suitcases for its non-priority customers and forcing them to check the luggage for a fee — or go with a smaller bag — to save time loading passengers on and off flights. Starting on November 1, Europe’s biggest discount airline will only allow travellers who pay for priority ...

Who lost Lehman Brothers? Could it have been saved? As we approach the 10th anniversary of Lehman’s collapse (September 15), these questions won’t go away. The Lehman bankruptcy is portrayed as the pivotal event that converted severe — but familiar — disruptions in financial markets into a full-blown panic. Nothing like it had occurred in the United States since the ...