Bloomberg Bank of England Governor Mark Carney is already bracing for the UK’s next financial crisis. While no central bank can eliminate the risk of future crises, he said the BOE is creating a more secure environment by planning for bank failures, providing liquidity and ensuring higher levels of capital. “Something will go wrong again even if we do not ...

Bloomberg India’s central bank is reviewing its process for allowing companies to raise money overseas due to concern that any increase in rupee volatility may hurt borrowers’ ability to repay debt, a person familiar with the matter said. The Reserve Bank of India is spending more time scrutinising companies’ hedging practices, vetting borrowers more closely to prepare for any financial-market ...

Bloomberg Stuart Gulliver’s final set of results at HSBC Holdings Plc weren’t quite the swansong he’d hoped for as he hands the reins over to his long-term lieutenant, John Flint. Europe’s largest bank missed estimates for fourth-quarter revenue and profit as it became the latest firm to take a hit on two high-profile corporate failures and post a sharp decline ...

Bloomberg Airline pilots, still resentful over pensions yanked away in a wave of industry bankruptcies, see growing company profits as a chance to reclaim some of those lost benefits. Unions at American Airlines Group Inc. and Delta Air Lines Inc. are studying ways to reconstitute or replace retirement plans that were scrapped or frozen during the carriers’ past financial struggles. ...

Bloomberg Grocer Albertsons Cos. plans to buy drugstore owner Rite Aid Corp. in a deal that would accelerate the remaking of the US retail and health-care industries. Boise, Idaho-based Albertsons plans to acquire the parts of Rite Aid that are left over after a separate sale of nearly 2,000 stores, the Wall Street Journal reported, citing the companies’ chief executive ...

Bloomberg Nautica, the apparel line known for its ’90s-era panache, is looking for a new owner to steer the ship. VF Corp., the clothing giant that also owns North Face, Vans and Wrangler, announced that it was scrapping Nautica from its portfolio. The company reclassified the business as “discontinued operations” last quarter, though it hopes to find a buyer for ...

Bloomberg Swiss watch exports kicked off 2018 with the strongest growth in more than five years, buoyed by strong demand for high-end timepieces in Asia and a later Chinese New Year. Shipments rose 13 percent to 1.6 billion francs ($1.7 billion) in January, the Federation of the Swiss Watch Industry said. That’s the biggest jump since October 2012 and the ...

Bloomberg Asia’s icy winter just spawned Europe’s strongest jet fuel market in over three years. The fuel’s premium to diesel, the most-watched measure of market strength, jumped to $2.59 a barrel in Europe, the highest since December 2014. Freezing weather in Asia is drawing cargoes of kerosene, which is almost identical to jet fuel, from Middle East refineries that were ...

Abu Dhabi / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, has stated that the initial figures for the UAE’s total foreign trade in 2017 will reach a value of AED1.7 trillion while expressing his expectation of continuous growth in the country’s trade during 2018 and the following years, in light of its policy of openness and its efforts ...

Abu Dhabi / WAM Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, has met separately with Francisco Chacon Hernandez, Ambassador of Costa Rica to the UAE, and Milos Perisic, Charge d’affaires of the Embassy of Serbia to the UAE. During the meetings, they discussed cooperation relations between the UAE, Costa Rica and Serbia in fields of common ...