Investors celebrating Meituan Dianping’s first quarterly profit have as much reason to cheer how the company got there as the numbers themselves. Surging revenue, market-share gains against rivals such as Alibaba Group Holding Ltd. and success in controlling expenses all helped the Chinese food delivery and bookings provider post net income of 877.4 million yuan ($124 million) versus the 1.57 ...

In July 2019, more migrants drowned in the Mediterranean than in July 2015, at the height of the refugee crisis — and that despite a dramatically reduced number of arrivals. The 238 deaths are at least partly on the conscience of European politicians; the European Union badly needs a reasonable policy towards the nongovernmental organisations whose rescue ships provide pretty ...

Bloomberg US index futures edged higher, stocks in Europe slipped and shares in Asia were mixed on Wednesday as investors awaited new developments in the increasingly unpredictable Sino-American trade war. Treasuries and the dollar were steady. Contracts on all three major US stock indexes gained, while technology companies and insurers led a decline on the Stoxx Europe 600 index. Benchmarks ...

Bloomberg Domestic UK stocks declined on growing anticipation of a no-deal Brexit after the British government sought to suspend parliament, while a weaker pound boosted the exporter-heavy FTSE 100 Index. The FTSE 100, which has moved inversely to the currency in recent years, climbed 0.3 percent in London, while the more UK focussed FTSE 250 Index lost 0.7 percent. Sterling ...

Bloomberg Deutsche Bank AG’s only retail banking franchise outside Europe is getting more investment, amid sweeping cost cuts and restructuring taking place elsewhere at the German lender. After receiving a 470 million euro ($520 million) capital injection earlier this year, Deutsche Bank’s Indian operation is set to hire about 140 people and boost its retail banking and wealth management operations. ...

Bloomberg The Australian central bank’s No. 2 official warned that current threats to the global rules-based trading system were a major risk to both his country’s economy and the world’s. Australia has been a key beneficiary of global trade, as its current account approaches its first surplus since the 1970s, Deputy Governor Guy Debelle said in Canberra. The local currency ...

Bloomberg China’s yuan is headed for a record monthly plunge as an intensifying trade war with the US damages investor confidence. The currency has plummeted 3.9% this month against the dollar, the biggest loss since January 1994, when the modern exchange-rate regime was adopted. The slump past the 7 level for the first time since the financial crisis comes as ...

Bloomberg Colombia has no leeway to join central banks around the world that are lowering interest rates to bolster growth, according to Ana Fernanda Maiguashca, a member of the central bank board. “Our inflation outlook, while not alarming, just doesn’t give us much space to provide greater stimulus to the economy,” Maiguashca said in a telephone interview. Central banks in ...

Bloomberg The stock market is starting to look good again to JPMorgan Chase & Co. After August’s sell-off, the time to buy stocks is approaching, strategists led by Mislav Matejka wrote in a note, saying equities will move higher starting with an up trend in September. Benchmarks including the S&P 500 Index, the Stoxx Europe 600 Index and the MSCI ...

Bloomberg A Berlin-based fintech company backed by Goldman Sachs Group Inc. is acquiring one of its crosstown rivals as it tries to capitalise on the 12 trillion euros pension and retirement savings market in Europe. Raisin, originally a marketplace for bank-savings products, is buying 100% of Fairr’s share capital in exchange for Raisin shares as well as cash. Fairr, co-founded ...