Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary waded into the row over the UK’s Brexit logjam, saying controversy over the so-called Irish backstop has been exaggerated. The backstop, which keeps the UK in a customs union with the European Union unless a future trade deal makes border checks unnecessary, won’t be a problem so long as Britain moves ...

Bloomberg Aviation regulators warned Southwest Airlines Co. and its mechanics’ union that their contentious contract talks and legal fight are putting the carrier’s safety at risk. The Federal Aviation Administration sent the letter to Southwest and the Aircraft Mechanics Fraternal Association, urging the two parties to work cooperatively on safety issues. Southwest flies the most passengers on domestic flights of ...

Bloomberg The global economy is suffering more than expected from trade tensions and political uncertainty which are clouding prospects particularly in Europe, according to a gloomy report from the OECD. As these are the organisation’s first forecasts in almost four months, it’s partly playing catch-up with developments since then. In that period, little has gone right for the world’s biggest ...

Bloomberg The US trade deficit widened in 2018 to a 10- year high of $621 billion, bucking President Donald Trump’s pledges to reduce it, as tax cuts boosted domestic demand for imports while the strong dollar and retaliatory tariffs weighed on exports. The annual deficit in goods and services increased by $68.8 billion, or 12.5 percent, Commerce Department data showed ...

Bloomberg After a few years of roughly stable payouts for many of Europe’s energy traders, big bonuses are back for the cream of the crop. The best traders in natural gas to power can look forward to handsome rewards after navigating markets that last year sparked to life with more bullish trends and a good dose of volatility. More people ...

Bloomberg The head of Colombia’s state oil company Ecopetrol said he doesn’t see the need for the government to sell another stake in the company — an idea the finance minister supports. The ministry is weighing the sale of an 8.5 percent stake in Ecopetrol, worth about $3.6 billion. CEO Felipe Bayon said such a sale could take as long ...

Bloomberg Despite sitting on top of the world’s largest crude reserves, the reach of Venezuela’s state-owned oil company is receding. In the 1980s Petroleos de Venezuela SA started an international expansion with the objective of finding new outlets for its growing oil production. The company bought Citgo Petroleum Corp. in the US, leased the Isla refinery in Curacao, bought a ...

Bloomberg US stocks edged lower as investors struggled to find inspiration after a torrid start to the year. The dollar rallied for a fifth day. The S&P 500 Index fell 0.1 percent. Equities opened lower amid a lack of progress on the US-China trade deal before briefly erasing losses on home-sales and service-industries data that beat estimates. General Electric Co. ...

Bloomberg European stocks may be off to a roaring start this year, but exchange-traded funds (ETFs) tracking them aren’t immune to the outflows that hit US equity funds earlier in the quarter. Despite an 11 percent surge for the Stoxx Europe 600 Index, ETFs targeting region’s shares have bled more than $4 billion in 2019. Among the biggest losers: benchmark ...

Bloomberg Italian financial police are demanding Swiss lenders disclose the names of bankers working in Italy, setting up a potential clash with regulators after UBS Group AG was hit with a record fine by French authorities. The Guardia di Finanza has sent a letter to Swiss lenders asking for a list of all their Italian units, data on local relationship ...