Bloomberg Hungary will delay the purchase of Budapest Airport because of a ballooning budget deficit, Prime Minister Viktor Orban said. The surprise announcement, delivered at a briefing, followed a warning by central bank Governor Gyorgy Matolcsy, who said last week that the size of the purchase threatened the country’s financial stability amid record spending before elections expected in April. ...

  Bloomberg Singapore Airlines Ltd signed a letter of intent with Airbus SE for seven A350 freighters with an option to take five more as the carrier phases out its aging cargo fleet. Delivery of the planes will start in the fourth quarter of 2025, Singapore Airlines said in a statement, without providing a dollar amount. The deal means the ...

Bloomberg Nike Inc is acquiring a virtual collectibles company as it dives further into the metaverse. The sportswear giant agreed to buy RTFKT, a business founded in 2020 that creates digital products like sneakers and uses blockchain technology to ensure authenticity, according to a statement. Financial terms of the deal were not disclosed. “This acquisition is another step that accelerates ...

  Bloomberg Bank of America Corp (BofA) is turning to private jets and exotic cars to compete with American Express Co and JPMorgan Chase & Co and lure big spenders to its credit cards. The Charlotte, North Carolina-based company revamped its rewards program and debuted a new $550-a-year metal credit card that offers extra points on travel and dining purchases ...

  Bloomberg Poland is poised for a hefty increase in interest rates after a spike in inflation to a two-decade high convinced central bankers that spiralling price growth isn’t transitory. Since the Monetary Policy Council hiked the benchmark to 1.25% last month, all but two of its 10 members have suggested that they’re ready to act again. Of 32 economists ...

    Bloomberg JPMorgan Chase & Co is preparing to pay roughly $200 million to resolve the US regulatory investigations into the lapses over monitoring the employee communications. A settlement with the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) could be reached before year-end, according to people familiar with the matter, although the figure is preliminary ...

    Bloomberg Bank of Thailand is focused on aiding economic growth amid subdued inflation and is less worried about the US Federal Reserve’s monetary actions, Governor Sethaput Suthiwartnarueput said ahead of the central bank’s rate meeting next week. “Most of our rate trajectory will be dictated by domestic considerations,” Sethaput said, adding inflation, growth and financial system stability will ...

  Bloomberg Hungary said it would continue a cycle of interest rate hikes and shut down its quantitative-easing programs, removing brakes on one of the most aggressive monetary tightening campaigns in Europe. The forint extended gains against euro after the central bank said it has ended its programs for buying corporate and government bonds following a meeting. Deputy Governor Barnabas ...

    Bloomberg India’s central bank kept borrowing costs at a record-low to ward off risks to economic recovery from the omicron variant, while sponging away excess liquidity to keep inflationary pressures at bay. The Monetary Policy Committee voted to keep the benchmark repurchase rate at 4%, as predicted by all 35 economists surveyed by Bloomberg. The six-member panel, which ...

  Bloomberg Shares of China’s biggest chipmaker and several of its largest pharmaceutical firms sank on Wednesday on fears that Washington will slap investment and export sanctions against more companies. Wuxi Biologics Cayman Inc tumbled a record 25% in Hong Kong before paring losses, while Sino Biopharmaceutical Ltd dropped 5% at the close. Semiconductor Manufacturing International Corp, (Smic) which is ...