Bloomberg As economists ponder how much additional growth is in store for the US economy following the implementation of President Donald Trump’s wide-reaching tax reform, the European Central Bank says the consequences for its own jurisdiction “are highly uncertain and complex.” The tax burden on US corporate income will fall significantly to a level close to that in a number ...

Bloomberg New York isn’t going to let Bank of Tokyo-Mitsubishi UFJ Ltd. slip out of its regulatory oversight without fighting back. The state’s banking regulator, Maria Vullo, said in a legal filing that the Tokyo lender’s request last year to shift regulators — trading its state license for a federal one — was granted arbitrarily and unlawfully. Accusing the bank ...

Bloomberg UBS Group AG may require staff to seek approval before trading cryptocurrencies in their personal accounts, bringing its policy on whipsawing virtual money into line with its rules on dealing other securities. “At present the Global Policy on Personal Investment is silent on cryptocurrencies and thus disclosure and pre-clearance is not required” in most cases, UBS told staff this ...

Bloomberg Boeing and Airbus have never had it so good in Asia. The rapid growth of mainland Chinese carriers and the entry of many budget operators has meant billions of dollars in orders for the aircraft makers. At the Singapore Airshow this week, top officials from Airbus SE Chief Executive Officer Tom Enders to Boeing Co.’s vice president of marketing ...

Bloomberg Tesco Plc named Booker Group Plc Chief Executive Officer Charles Wilson to lead its British and Irish operations, elevating a potential successor for the leading role at the UK’s biggest retailer. The appointment of Wilson, 51, creates a strong No. 2 to CEO Dave Lewis. Before engineering a $5.2 billion sale to Tesco, Wilson transformed the food and drink ...

Bloomberg Jet engines used to be slung under a plane’s wing and then largely forgotten about until they came into the hangar for a checkup. More recently they’ve graduated to data downloads that allow engineers to devise maintenance regimes while aircraft are still flying. The next generation of turbines will be way smarter again, according to Rolls-Royce Holdings Plc, communicating ...

Bloomberg Estee Lauder Cos.’s online sales and China push are helping maintain its growth streak. The New York-based seller of Clinique and Aveda products saw sales surge across most of its brands in the latest quarter, with skin care, makeup and fragrances all posting double-digit gains. Revenue advanced on a regional level too, led by a 33 percent climb in ...

Bloomberg As short sellers swoop on Marks & Spencer Group Plc, value investors are pinning their hopes on a man with a history of turning around struggling businesses. Archie Norman, 63, a former lawmaker who joined the iconic British retailer as chairman in September, is credited with leading the Asda supermarket chain from near bankruptcy in the early 1990s to ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the construction of 7,270 housing units for Emiratis across different parts of the UAE at a total cost of AED7.2 billion ($1.9 billion) to be delivered up until 2021. Chairing a cabinet meeting on ...

ABU DHABI / WAM The Federal Tax Authority (FTA) said that the final reduced prices for goods on promotional offers must include the 5 percent Value Added Tax (VAT), which is to be calculated as included in the new price after reductions by the sales outlets or service providers themselves. In a new awareness message targeting consumers and service recipients ...