Bloomberg HSBC Holdings Plc’s former head of currency trading in London made at least $500,000 in commissions by front-running a multi-billion-dollar deal that betrayed the bank’s duty to its client, according to US prosecutors. The allegations, made in court documents handed out at the start of a two-day hearing, form part of the US government’s petition to extradite Stuart Scott ...

Bloomberg Some Qatari banks are becoming less willing to sell dollars to foreign lenders amid a lingering regional standoff with a Saudi-led alliance, according to people familiar with the matter. Foreign exchange activity between local and international banks is almost at a standstill, the people said, asking not to be identified because the matter is private. The central bank is ...

Bloomberg Airbus SE’s agreement to buy a majority stake in Bombardier Inc.’s C Series passenger jet programme not only injects critical financial support and expertise into the project, but also puts China’s aircraft-selling ambitions to the test. Potential buyers of the C Series aircraft have the comfort that Airbus, with its global presence, will provide support for the jet anywhere, ...

Bloomberg Toys “R” Us Inc., the retailer that filed for bankruptcy in North America, has been exploring options for its growing Asian business including a potential initial public offering, people with knowledge of the matter said. The US chain and its local joint venture partner, the billionaire Fung brothers, have been speaking with investment banks to study the feasibility of ...

Bloomberg Alphabet Inc.’s Project Wing is taking the next step to deliver items to people’s homes via drone, beginning a demonstration project this week in Australia with a Mexican food chain and a pharmacy company. Small drones will begin delivering actual purchases to backyards in rural areas, James Ryan Burgess, co-lead of Project Wing, said in a blog post. Alphabet’s ...

Bloomberg When it comes to UK retailing, investors and consumers have one thing in common: Both are putting an emphasis on value. Stocks from budget homewares seller B&M European Value Retail SA to sausage-roll purveyor Greggs Plc are having a stellar year, with gains being driven by shoppers’ desire for a bargain or an affordable treat. Their advance contrasts with ...

Bloomberg Ryanair Holdings Plc’s efforts to calm disgruntled pilots were dealt a blow after crew at London Stansted Airport turned down a wage increase that was meant as a peace offering, people familiar with the matter said. At a meeting, the majority of flight crew at the budget carrier’s biggest base voted against a deal from Chief Executive Officer Michael ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, announced the UAE Strategy for Artificial Intelligence (AI), a major initiative within the UAE Centennial 2070 objectives. This is the first such strategy of its kind in the region and the entire world to promote government performance and ...

MUMBAI / WAM The National Investment and Infrastructure Fund (NIIF), of India signed an investment agreement worth $1 billion with a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). As part of the comprehensive partnership agreement, ADIA will become the first institutional investor in NIIF’s Master Fund and a shareholder in National Investment and Infrastructure Limited, the NIIF’s ...

DUBAI / Reuters Dubai Aerospace Enterprise (DAE) intends to tap the Islamic bond market within the next nine months as part of a strategy to diversify the company’s funding, its chief executive said on Monday. The Dubai government-controlled company became one of the world’s largest aircraft lessors in August after acquiring Dublin-based AWAS. DAE Chief Executive Firoz Tarapore said that ...