Bloomberg The Bank of England (BOE) said more companies are triggering plans for a no-deal Brexit as it kept policy in a holding pattern while the government takes withdrawal talks to the brink. Around two-thirds of firms surveyed by the central bank said they had started implementing contingencies for a disorderly departure from the European Union. About 80 percent judged ...

Bloomberg Federal Reserve nominee Stephen Moore called the Fed’s December interest-rate hike “a very substantial mistake” while adding that he looks forward to working with Chairman Jerome Powell to help ensure the US economy continues to expand. “Everyone would now acknowledge that what they did in December with the rate increase — it was a very substantial mistake,” Moore said ...

Bloomberg The US imposed sanctions against Venezuela’s national development bank and four financial institutions it controls, alleging it helped prop up the government of the country’s president, Nicolas Maduro. The penalties were imposed on Banco de Desarrollo Economico y Social de Venezuela, or Bandes, the Treasury Department said. Treasury Secretary Steven Mnuchin cited the arrest of opposition leader Juan Guaido’s ...

Bloomberg The Philippine central bank left its benchmark interest rate unchanged in Governor Benjamin Diokno’s first policy meeting, as officials remained cautious even as inflation eases. Bangko Sentral ng Pilipinas held the overnight reverse repurchase rate at 4.75 percent, it said in a statement in Manila, in line with the forecasts of all 21 economists surveyed by Bloomberg. The ratio ...

Bloomberg Boeing Co has spent decades spreading big money around Washington. Now the aerospace giant will need to lean on its network of lawmakers and lobbyists as it grapples with one of the worst crises in its history. The company has almost tripled its spending on US politicians and political committees in the past decade. It’s also shelled out $15 ...

Bloomberg Sycamore Partners is looking to take most of its cash out of Staples Inc through a recapitalisation that will saddle the company with roughly $1 billion of additional debt, according to people with knowledge of the plan. If successful, the debt sale will allow the private equity firm to recoup roughly two-thirds of the $1.6 billion it put up ...

Bloomberg India is mulling options to save jobs at Jet Airways India Ltd including asking low-cost carrier SpiceJet Ltd to consider taking over some of the debt-laden company’s aircraft, people with knowledge of the matter said. The proposal involves SpiceJet, led by Chairman Ajay Singh, acquiring as many as 40 of Jet Airways’ grounded planes that are owned by lessors, ...

Bloomberg Portuguese airline TAP, partially privatised by the government in 2015, said it’s preparing for an initial public offering. The carrier, part-owned by airline tycoon David Neeleman, is readying itself for a sale but can’t be sure when that might be, Chief Executive Officer Antonoaldo Neves said at a press conference in Lisbon. “We’re preparing the company so that when ...

Bloomberg Avon Products Inc spiked after rival Natura & Co confirmed that it has engaged in talks with Avon about a “potential transaction,” without giving further details. The confirmation, made in a regulatory filing, comes hours after the Wall Street Journal reported Avon and Natura were in early discussions about a potential sale that could put the cosmetics maker and ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) signed, on Saturday, two memoranda of understanding with OMV and one MoU with Borealis to explore new opportunities for collaboration in the downstr-eam sector. The signing of agr-eements was attended by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the ...