AFP India is considering a proposal to increase the limit on foreign direct investment in local newspapers and magazines, two government officials said. The Finance Ministry recommended raising the cap to 49 percent from 26 percent, bringing it on par with that on news television channels, the officials said, asking not to be identified citing rules for speaking with ...

  Bloomberg Telefonica SA, facing roadblocks in the planned sales of its assets following Britain’s vote to leave the European Union, is paring a stake in China Unicom (Hong Kong) Ltd. to raise as much as US$367 million. The sale of 361.8 million shares began today and the stock is being offered at HK$7.75 to HK$7.85 apiece, according to terms ...

  Bloomberg Boeing Co.’s historic agreement to provide 109 aircraft to Iran’s national airline is coming under increasing pressure from lawmakers in Washington. “I am extremely concerned that by relaxing the rules, the Obama administration has allowed US companies to be complicit in weaponizing the Iranian regime,” Republican Representative Bill Huizenga of Michigan said on Thursday at a hearing of ...

  Bloomberg Virgin Galactic Ltd, the commercial space company founded by billionaire Richard Branson, is set to resume test flights next month in a new spaceship that replaces the craft that crashed in a fatal accident two years ago. The company is due to complete ground tests in August and move to testing the vessel in the skies while attached ...

  Bloomberg Air France-KLM Group Chief Financial Officer Pierre-François Riolacci announced he’s stepping down a week after a new CEO took charge, leaving the airline scrambling to find a successor amid tensions with French pilots over cost-cutting efforts. The stock dropped to a 3 1/2-year low. Riolacci will leave the carrier in November to become CFO at Danish facilities manager ...

  Bloomberg Marks & Spencer Group Plc reported its steepest drop in clothing sales in eight years as new chief Steve Rowe’s efforts to win back customers with cheaper prices on leggings and fewer clearances came at a cost. Same-store sales of clothing and home goods fell 8.9 percent in the 13 weeks ended July 2, the London-based company said ...

Bloomberg Deutsche Lufthansa AG’s plane-servicing business, the German airline’s most profitable unit, is more than quadrupling research and development spending to shore up its dwindling market share and fading margins. The Lufthansa Technik maintenance, repair and overhaul division is in the middle of a 200 million-euro (US$221 million), five-year R&D program that’s come up with products such as sharkskin-like fuselage ...

  Bloomberg The Bank of England may cut interest rates for the first time since 2009 next week to stabilise an economy in turmoil after Britons voted to leave the European Union, according to a majority of economists. Governor Mark Carney has said stimulus is likely to be needed soon and many economists expect the Monetary Policy Committee to act ...

  Bloomberg European Central Bank President Mario Draghi warned of potential legal steps after Slovenian police raided the country’s central bank in connection with a probe into a 2013 bank bailout. Nova Ljubljanska Banka dd and other state-owned lenders pushed Slovenia to the brink of an international bailout in 2013 before the government and the central bank spent 3.2 billion ...

  Bloomberg For US banks, Brexit couldn’t have come at a worse time, raising funding costs just as changes to the US$2.7 trillion money-fund industry threaten to sap demand for the lenders’ short-term debt. In the derivatives market, measures of banks’ funding stress are climbing on speculation the fallout from last month’s UK referendum will weaken global economic growth and ...