Bloomberg Bank of England policy maker Michael Saunders said the decision to leave the European Union will have a long-term effect on the economy, though there’s still an argument to increase interest rates now. In an interview in the Evening Standard newspaper, the external Monetary Policy Committee member said Brexit probably means the economy will grow “several percentage points less ...

Bloomberg Irish banks are set to face mounting pressure from regulators to write off bad loans, a person familiar with the matter said. European authorities that now oversee the biggest Irish lenders have consistently pushed bankers to deal with the legacy of non-performing assets left over from the nation’s financial crash through measures such as loan sales. Regulators are beginning ...

Bloomberg Bitcoin needs “Downtown” Josh Brown more than he needs bitcoin. Brown, the chief executive officer of Ritholtz Wealth Management and author of a popular finance blog, has long been skeptical of the digital currency. He finally bought some, he said, “because the goddamn thing won’t go away.” Still, Brown, who helps manage half a billion dollars, isn’t really a ...

Bloomberg A fresh round of sales declines at Macy’s Inc. and Kohl’s Corp., though less severe than Wall Street had feared, is renewing concerns that the department-store industry can’t pull out of a crippling slump. Shares of both retailers declined last week after the quarterly results failed to assure investors that a comeback was taking hold. Same-store sales— a key ...

Reuters Iran is holding talks with European planemaker Airbus to buy 48 helicopters for civilian use, an Iranian official was on Saturday quoted as saying, as Iran continues its shopping spree of Western aircraft after the lifting of sanctions. “The Health Ministry is planning to order 45 HEMS (Helicopter Emergency Medical Service) helicopters and the purchase is being negotiated by ...

Bloomberg Indian PMNarendra Modi’s tax reforms will encourage more local airlines to service their aircraft within the country, a $704 million-a-year business that currently goes to Sri Lanka and Southeast Asia. Simpler rules for doing business and scrapping of import duties on equipment and machine parts are benefiting companies that maintain, repair and overhaul planes, Air Works India Engineering Pvt. ...

Bloomberg Ivanka Trump is trying her hand at brick-and-mortar retail—again. The first daughter’s brand will open a store in Trump Tower on Manhattan’s Fifth Avenue, according to signage in the building. The location is slated to debut later this year, giving the tourists who throng to the site a chance to buy Ivanka Trump merchandise. It’s unclear what products will ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, sent a personal message to the Emirati youth on the occasion of International Youth Day, ...

Dubai / Emirates Business Dubai Land Department (DLD) has announced that a total of 88 real estate projects have been launched from the beginning of 2016 until H1 2017. DLD has also confirmed that 68 real estate projects were registered during H1 2017, representing a value of AED 21 billion. His Excellency Sultan Butti bin Mejren, Director General of DLD, ...

Abu Dhabi / WAM The bodies of the four Emirati martyrs, Captain Ahmed Khalifa Al Baloushi, 1st Lieutenant Pilot Jassem Saleh Al Zaabi, Warrant Officer Mohammed Saeed Al Hassani, and Warrant Officer Sameer Mohammed Murad Abu Bakr, arrived at the Al Bateen Airport in Abu Dhabi. The bodies were accompanied by a number of officers from the UAE Armed Forces. ...