Bloomberg Wells Fargo & Co. customers hoping to use their credit cards to buy Bitcoin will have to look elsewhere. While putting a prohibition on such cryptocurrency purchases for now, Wells Fargo “will continue to evaluate the issue as the market evolves,” Shelley Miller, a spokeswoman, said in an emailed statement. Wells Fargo joins Citigroup Inc., JPMorgan Chase & Co. ...

Bloomberg Fixing HSBC Holdings Plc’s troubled US division will be one of the toughest parts of the lender’s new $17 billion strategy, Chief Executive Officer John Flint said. “Of all the things we have to execute on in the next three years, this is one of the most challenging pieces,” Flint said on a call with reporters. “We’ve struggled with ...

Bloomberg Deutsche Bank AG will probably report another quarter of declining revenue for the three months through June as it scales back investment-banking operations and cuts thousands of jobs. The lender will probably do “a little worse” than peers who have indicated they expect a flat top line, “given the quarter that we’ve had and the transition that we’ve been ...

Bloomberg Landlords have malls they’d like to unload. But who’d want to buy them? As they battle the rise of e-commerce, US mall owners are trying to clear their books of fading centres so they can focus on the most-profitable ones. That’s proving difficult, with just a shallow pool of investors who are willing to take on a declining mall ...

Bloomberg India will soon revive the sale of its money-losing flag carrier with new guidelines after a recent attempt ended in a debacle last month, as the proposed terms deterred potential investors. Prime Minister Narendra Modi’s administration is ready to “re-examine” its privatisation process, including a clause requiring a minority state stake in Air India Ltd., said Subhash Chandra Garg, ...

Bloomberg Mercari Inc. priced its initial public offering at the top of the range to sell $1.2 billion worth of shares, a valuation that’s set to make its 40-year-old founder a billionaire. The online marketplace plans to sell 43.5 million shares at 3,000 yen apiece, at the top of the targeted range, including the sale of additional shares via a ...

Bloomberg Hong Kong Aircraft Engineering Co., a unit of Swire Pacific Ltd., jumped the most on record after the parent said it plans to pay a 64 percent premium for shares it doesn’t own, giving small investors an opportunity to exit after trading languished at minuscule volumes. The property-to-retail conglomerate, which already owns 75 percent of the company, proposed to ...

Bloomberg In 1980, the Soviet invasion of Afghanistan led dozens of countries to boycott the Summer Olympics in Moscow. An undaunted Adidas AG still sponsored the USSR’s Olympic team, becoming one of the first global brands well-known behind the Iron Curtain. This summer’s soccer World Cup should have had the German company cashing in big on its ensuing decades of ...

ABU DHABI / WAM The Federal Authority for Government Human Resources has announced that Eid al-Fitr holiday for federal entities in the UAE will begin on Thursday 29th Ramadan (corresponding to June 14), until 3rd Shawwal, which is yet to be declared. The Authority conveyed its greetings to President HH Highness Sheikh Khalifa bin Zayed Al Nahyan, and Their Highnesses ...

Dubai / Emirates Business Latest survey data signalled a sharp and accelerated improvement in the health of Dubai’s non-oil private sector. Output and new orders both expanded at the strongest rates since early 2015, with increases in the travel & tourism and wholesale & retail sectors key drivers of May’s improvement. Reflective of strong business conditions in the sector, positive ...