Bloomberg Ten years ago, a lender called Northern Rock, bloated with billions of pounds of risky mortgages, received emergency support from the Bank of England after the short-term funding it relied on dried up. Depositors lined up outside branches to get their money back, the first run on a British bank in 150 years. It was the start of a ...

Bloomberg Ilan Goldfajn is racking up the milestones as Brazil’s central bank president, but he’s still a long way from securing the institution’s ultimate goal: greater independence. Since taking the helm in June last year, the 51 year-old former Itau Unibanco chief economist has helped bring inflation to an 18-year low, hastened the end of subsidized state loans, and saw ...

Bloomberg Struggling retail companies across the US are shuttering their stores and declaring bankruptcy —again. Of at least 10 merchants to file for Chapter 11 protection from creditors in the past year, four are taking the trip to bankruptcy court for the second time in as many years. While the ins-and-outs of bankruptcy are inscrutable to the average customer, at ...

Bloomberg Airlines are cancelling flights in New Zealand and adding stops for long-haul services after a pipeline bringing jet fuel to Auckland airport was closed due to a leak. Air New Zealand estimated 2,000 customers a day will be affected by the disruption over the next few days as it has just 30 percent of normal fuel volumes available to ...

Bloomberg Ryanair Holdings Plc risks reviving its image for predatory customer service with a move to scrap hundreds of flights through the end of October because of poor planning. The shares fell nearly 5 percent. Europe’s biggest discount airline, which had previously treated its customers like a captive audience for hard-selling an array of products and services on board, has ...

Bloomberg Burberry Group Plc is betting on growth in handbags and playing up its trademark check as new Chief Executive Officer Marco Gobbetti seeks to join the luxury industry’s turnaround. At its first major runway show since Gobbetti took over in July, the trenchcoat maker showed off reversible tote bags decked out in its tartan plaid, including a £1,490 ($2,025) ...

Bloomberg Qatar is set to buy 24 Eurofighter Typhoon jets after Defense Minister Khalid bin Mohamed Al-Attiyah signed a statement of intent with UK counterpart Michael Fallon, providing the Persian Gulf state with outside military support after it became a regional outcast. The deal, reached on Sunday in the Qatari capital of Doha, marks the first major defense contract between ...

Dubai / WAM Recent forecasts for growth in UAE trade are set to benefit the country’s logistics sector according to DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem. A BMI report published recently forecasts a steady rise in trade of 4.35 percent year on year in 2017, driven by a 5 percent growth in imports and exports of ...

Abu Dhabi / Emirates Business Abu Dhabi Airports’ VIP Terminal, operated by National Aviation Services (NAS), the fastest growing aviation services provider in the emerging markets, signed a partnership agreement with Al Hilal Bank in Abu Dhabi, a progressive Islamic bank, to provide exclusive VIP Terminal access at Abu Dhabi International Airport to top-ranking customers. Abdul Majeed Al Khoori, Acting ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday inaugurated a youth centre in Dubai deemed as the best in the world, with ...