Bloomberg President Donald Trump called the US air-traffic system ‘obsolete’ in comments that were cheered by proponents of taking the job of monitoring the skies away from government. Trump, speaking at a meeting of airline executives and other aviation industry officials, made the strongest comments to date from the White House on problems with the air-traffic system. He echoed ...

  Bloomberg Amazon.com Inc. disclosed Iranian business ties that may have violated U.S. sanctions, warning that it may be penalized after a regulatory review of the activities. The company said in a regulatory filing that from 2012 to 2016 it “processed and delivered orders of consumer products for certain individuals and entities located outside Iran covered by the Iran Threat ...

  Emirates Business Micromax Informatics Ltd, India’s leading handset manufacturer and the 10th largest smartphone player in the world, on Sunday announced its foray into the Middle East and North Africa (MENA) region with the entry into the UAE smartphone market. Micromax has entered a strategic agreement with Tchannl, one of the leading players in telecom, IT and consumer electronics ...

  BERLIN / AP German firefighters on Sunday evacuated hundreds of passengers at Hamburg Airport after about 50 people were injured by an unknown hazardous material that likely spread through the airport’s air conditioning system. All flights were halted for several hours due to the evacuation, but air traffic started running again around 2 p.m., airport spokeswoman Karen Stein said. ...

  Bloomberg The Oneworld alliance, which includes British Airways and American Airlines, is reviewing the case for seeking members from the ranks of discount carriers while exploring measures to fill gaps in emerging markets. Rob Gurney, who took over as Oneworld’s chief executive officer in October, said he’s considering the group’s approach to low-cost operators that account for an ever-increasing ...

  ANKARA / Reuters Turkey’s central bank will stick with unorthodox measures to keep borrowing costs at five-year highs at least until inflation peaks this year, according to people familiar with its thinking, despite sharp criticism from investors. The bank has long puzzled markets with a complex system of setting policy through multiple interest rates but it ratcheted up the ...

  Bloomberg The man running Svenska Handelsbanken AB, one of Sweden’s biggest banks, sees no reason to let Brexit upend his expansion plans in the UK. Anders Bouvin, chief executive officer of the Swedish bank known for its commitment to branches in a digital age, says his strategy is proving especially effective in attracting small UK businesses looking for funding. ...

  Bloomberg Credit Suisse Group AG, which has earmarked its Swiss unit for a partial listing, could instead raise capital after its share price rebounded from a record low, according to UBS Group AG. Credit Suisse’s shares have risen more than 50 percent since their low of 9.755 francs last July, “making a capital increase a viable alternative to a ...

  Bloomberg If Mario Draghi, President of the European Central Bank, is willing to send a signal that the European Central Bank’s stimulus drive won’t last much longer, his colleague Yves Mersch has a suggestion. The time is ripe for the ECB to review its insistence that it could cut interest rates further, according to Mersch, who sits with President ...

  Cologne / DPA Every time one meets Gerhard Richter, something doesn’t seem to add up. Is this “Europe’s greatest painter,” as the New York Times has called him? Or the “Picasso of the 21st Century,” as the Guardian says? The most expensive artist, the most influential painter? A superstar? He just doesn’t appear to match such superlatives. Nondescript is ...