Last November, in a bid to internationalize its currency, China’s yuan was successfully admitted to the International Monetary Fund’s Special Drawing Rights (SDR) basket of reserve currencies, joining the Euro, the U.S. dollar, Japanese yen and British sterling in the cohort of elite currencies. The yuan’s ascension is an economic milestone for China and a political victory for the world’s ...

LONDON / Bloomberg London City Airport’s sale to a Canadian-led group of investors at a steep premium received a cool reception from both its biggest user and the top UK airline, which said they won’t accept the higher fees that might be imposed to justify the price. Willie Walsh, chief executive officer of International Airlines Group (IAG) SA, said that ...

London / AFP International Airlines Group, owner of British Airways (BA) and Iberia, said that net profit surged 52 percent last year on tumbling fuel prices and its purchase of Irish carrier Aer Lingus. Profit after tax jumped to 1.495 billion euros ($1.654 billion) in 2015 compared with 982 million euros one year earlier, IAG said in an earnings statement. ...