Mogadishu / AFP More than 20 people were killed on Sunday in a suicide truck bombing in the Somali capital Mogadishu, police said, in a fresh strike claimed by the Al-Qaeda-linked Shabaab group. “The tally we have made so far indicates that more than 20 people, most of them civilians, were killed in the blast,” said Ibrahim Mohamed, a Somali ...

  Bloomberg Pilots of at least three Indian flights, including one operated by market leader IndiGo, lied to air traffic controllers about being short on fuel to get priority landing at an airport, according to an investigation by the country’s aviation safety regulator. The incident occurred on November 30, when pilots of an IndiGo plane radioed traffic controllers at Kolkata ...

  AFP / Reuters Iran Air said on Sunday it had finalised a contract to buy 80 planes from US firm Boeing, the official IRNA news agency reported. “Fifty of the planes are 737 and the other 30 are the long haul 777 that will be delivered to Iran Air in a period of 10 years,” said Farhad Parvaresh, chief executive ...

  Bloomberg McDonald’s Corp. shrugged off Brexit by announcing plans to switch its non-U.S. tax base to the UK, ditching tiny Luxembourg where its fiscal arrangements are under attack from European Union regulators. In an apparent vote of confidence in the U.K., the hamburger giant said it’s creating a new international holding company based in Britain, which decided in June ...

  Bloomberg Alaska Air Group Inc. won U.S. antitrust approval for its acquisition of Virgin America Inc., a takeover that extends years of consolidation in the industry and expands Alaska Air’s access to the lucrative cross-country market. Under an agreement with the Justice Department announced, Alaska Air must reduce the scope of a marketing accord that allows it to sell ...

  Bloomberg Global airline earnings are set to decline next year after reaching a record in 2016 as higher oil prices clip margins, according to the industry’s main trade group. Net income across the sector is likely to total $29.8 billion in 2017, the International Air Transport Association said. That’s 16 percent lower than the $35.6 billion forecast for this ...

  Bloomberg Wells Fargo & Co.’s attempt to force aggrieved customers into closed-door arbitration over its fake-accounts scandal is drawing a legislative backlash in its home state of California and risks subjecting the bank to another round as a public punching bag. Following pledges at Capitol Hill hearings and in advertisements that it would rebuild customer trust, the San Francisco-based ...

  Milan / AFP Italy’s Monte dei Paschi di Siena saw its stock tumble more than 12 percent over reports the ECB had denied it more time to raise the cash it needs to avoid being wound down. The world’s oldest bank had asked the European Central Bank for two more weeks to find the funds, saying political instability created ...

  Berlin / AFP Europe’s largest economy Germany is “on a sound upward path” for faster-than-expected growth in 2016 and 2017, its central bank said, but remains at risk from Donald Trump and Brexit. Germany’s “main driver is buoyant domestic demand, which is being bolstered by the favourable situation in the labour market and by rising household income,” Bundesbank president ...

  London / AFP International banks have enquired about switching operations from London to Paris following Britain’s vote in favour of exiting the European Union, according to a senior official at France’s markets regulator. “Large international banks… have already undertaken real due diligences and we have received a lot of practical questions regarding the way they are going to be ...