Bloomberg Deutsche Bank AG could take the biggest hit to trading revenues when Europe’s MiFID II rules come into force because of its exposure to the continent, according to a UBS Group AG report. In its most severe “bear case” scenario, where growth in European trading revenue slows by 9 percent next year, Deutsche Bank would see growth cut by ...

Bloomberg The UK is said to see Canada as primarily responsible for the trade dispute between Boeing Co. and Bombardier Inc. because of the level of its state aid to the aerospace company. Publicly, the British government has said that the US imposition of punitive duties on Bombardier is disproportionate, and Prime Minister Theresa May even lobbied US President Donald ...

Bloomberg Ryanair Holdings Plc pilots campaigning for unionisation amid a staffing crisis that’s led to the cancellation of 20,000 flights have been offered financial backing from American Airlines Group Inc.’s cockpit-crew association. The Allied Pilots Association has offered to support Ryanair crews in forming a union or joining an existing body such as the Irish Air Line Pilots’ Association, according ...

Bloomberg EasyJet founder Stelios Haji-Ioannou is launching a takeout delivery service to rival Just Eat Plc, as the British entrepreneur seeks to grab a slice of the UK’s fast-growing online market. EasyFood will let Britons order home deliveries from local restaurants and takeouts through its website or a mobile app. The service will initially target Birmingham and London, with a ...

Bloomberg In a sign of the intensifying battle for New York’s online shoppers, Wal-Mart Stores Inc. acquired Parcel, a company specialising in same-day deliveries of groceries and meal kits. The world’s largest retailer plans to use the business to offer free, same-day delivery in New York City—the most populous city in the US—as it continues to push into e-commerce to ...

Bloomberg High-income shoppers will fuel holiday spending in the US this year, even as less affluent consumers keep their purse strings tight. That’s the finding of a survey released by PricewaterhouseCoopers LLP. The firm expects Americans overall to increase spending by 6 percent this season, but those with household incomes under $60,000 will cut their outlays for both gifts and ...

DUBAI / Reuters Abu Dhabi sold its first ever 30-year sovereign bond on Tuesday as part of a $10 billion triple-tranche debt issue that drew heavy demand. The sale followed a $12.5 billion bond issue by Saudi Arabia last week – the largest emerging market bond sale in 2017 – and was the latest jumbo sovereign offering from Gulf states ...

DUBAI / Emirates Business UAE residents will soon be able to send remittances directly through their mobile phones, using a first-of-its-kind mobile wallet, which is set to launch at GITEX Technology Week 2017. The new service, which enables instant and secure transaction through a mobile application, has been developed by digital payments enabler Trriple. With a booming economy and an ...

DUBAI / WAM Despite softening slightly in September, growth in the UAE’s non-oil private sector remained sharp and marked the strongest quarter recorded for two years, according to the latest UAE PMI survey. It added, “The latest improvement in business conditions was driven by above-average expansions in both output and new orders. That said, new business from abroad slipped back ...

KHOBAR / Reuters Abu Dhabi Future Energy Company (Masdar) and EDF Energies Nouvelles have submitted the lowest bid to build the first utility-scale solar plant in Saudi Arabia, reports said. The 300-megawatt solar photovoltaic (PV) project is in Sakaka, the Al Jouf Province in the north of the kingdom. The two companies submitted a joint bid for a levelised cost ...