Bloomberg Since China banned fireworks across more than 400 cities to reduce pollution, a new entertainment has emerged to fill the skies: drone swarms. Shows featuring more than a thousand drones forming 3-D animated figures and other images are being booked for celebrations across the country. Among those cashing in on the technology is EHang Inc., which has been contracted ...

Bloomberg The gap between the Bank of Japan and its global peers widened. The BOJ maintained its aggressive asset-purchase and yield-curve targets less than 24 hours after the European Central Bank mapped out an exit from its crisis-era policies, and just days after the US Federal Reserve again raised interest rates. Underscoring the divide, the BOJ downgraded its assessment of ...

Bloomberg Russia extended its pause in monetary easing as the central bank struck a surprise hawkish tone and warned that it’s slowing a shift to looser policy because of fiscal plans unveiled by the government. Policy makers in Moscow kept their key interest rate at 7.25 percent, according to a statement. The central bank said the balance of risks has ...

Bloomberg Citigroup Inc. agreed to pay a combined $100 million to 42 US states to resolve a probe into fraudulent conduct tied to interest-rate manipulation that affected financial instruments worth trillions of dollars. The settlement was announced by several of the states, who alleged Citigroup misrepresented the integrity of the Libor benchmark to state and local governments, not-for-profit organisations and ...

Bloomberg BNP Paribas SA plans a major hiring spree in German wealth management, seeking to become a leader in one of Europe’s biggest markets. The Paris-based lender wants to add as many as 150 staff to its private-banking operations across German cities over the next three years, according to Vincent Lecomte, co-head of the bank’s wealth-management business. That will about ...

Bloomberg Kenya plans to repeal a law that caps commercial interest rates, after it crimped lending by banks in East Africa’s biggest economy, Treasury Secretary Henry Rotich said. The surprise proposal to repeal section 33B of the Banking Amendment Act will be welcomed by Kenyan banks that have complained the 400 basis-point ceiling on the cost of loans nullified their ...

Bloomberg The former boss of top French supermarket chain Carrefour SA walked away from a multi-million-euro payment after the country’s economy minister denounced his package as exorbitant. Former Chief Executive Officer Georges Plassat decided to waive his right to a non-compete fee valued at 4 million euros ($4.6 million) because of the “misunderstanding” surrounding the award, the company said in ...

Bloomberg American Airlines Group Inc. agreed to pay $45 million to end a consumer antitrust lawsuit that accused it and three other major US airlines of colluding to limit plane capacity and drive up domestic airfares. The Fort Worth, Texas-based carrier is the second to settle in the three-year-old litigation. Southwest Airlines Co. won preliminary court approval for its offer ...

Bloomberg The US Army’s Black Hawk helicopters are less capable for some missions conducted by Afghanistan’s Air Force than the Russian-made ones they’re replacing, according to the Pentagon’s inspector general. It’s a setback six years after lawmakers started pushing for the US to stop buying the Mi-17 sold by Rosoboronexport, Russia’s state-owned weapons exporter, in light of President Vladimir Putin’s ...

Bloomberg A Qantas Airways Ltd. A380 superjumbo suddenly lost altitude for about 10 seconds more than 30,000 feet above the Pacific Ocean after flying through the wake of another plane. Flight QF94, two hours after taking off from Los Angeles to Melbourne on the night of June 10, plunged upon hitting the wake turbulence of another Qantas A380 that was ...