Bloomberg Gold slumped to the lowest in more than six months as the dollar rallied amid growing recession fears that caused losses across risk assets. The greenback surged to highest in more than two years as investors retreated to the haven, putting pressure on bullion. US stocks briefly slumped more than 2% amid fears that the Federal Reserve’s rate …

  Bloomberg Just 20 minutes north-west of Singapore’s Changi Airport — regularly voted the world’s best — is Seletar Airport, the city-state’s second, and far well less known, airfield. It’s predominantly where the super-rich land in their private jets. It’s also where the future of aviation could be taking off. The neighbourhood, more known for its laid-back cafes in restored …

  Bloomberg Fomento Economico Mexicano agreed to buy Switzerland-based convenience store operator Valora for as much as $1.2 billion to expand into Europe. Femsa, as the company is known, offered 260 francs a share, a premium of 52% to the closing price, the companies said. Valora climbed as much as 51% to 258 francs in early Swiss trading. Based in …

Bloomberg Scandinavian airline SAS AB filed for Chapter 11 to tackle its debt burden for a second time in two years as the recovery from the disruption caused by the coronavirus pandemic has been slower than expected. Scandinavia’s largest airline has been in talks with its creditors to convert 20 billion Swedish kronor ($1.9 billion) of outstanding debt and hybrid …

Bloomberg EasyJet Plc Chief Operating Officer Peter Bellew is leaving, just as the UK discount carrier grapples with flight cancellations and strikes disrupting its service. Bellew, 57, who joined from low-cost rival Ryanair Holdings Plc in 2019, will be succeeded as interim COO by David Morgan, who has filled the role on a temporary basis previously, EasyJet said in a …

  Bloomberg A Boeing Co 737 Max operated by SpiceJet Ltd made an emergency landing in Karachi after an indicator light malfunctioned, according to a spokesman for the Indian low-cost carrier. The plane was en route to Dubai from New Delhi and landed safely after diverting to the Pakistani city, where a replacement aircraft was headed to pick up passengers …

  Bloomberg British Airways (BA) will pull more flights from its summer schedule as the carrier looks to reduce last-minute cancellations amid continuing staffing shortages and long queues at airports. The unit of IAG SA has now reduced its timetable by 11% through October, compared with a 10% cut for the period announced in May. The UK government has waived …

  Bloomberg The European Central Bank (ECB) is exploring ways to prevent banks from earning windfall profits from the subsidised lending program it launched during the pandemic, once it raises interest rates later this month, according to a report by the Financial Times. The ECB provided €2.2 trillion of subsidized loans to banks during the Covid-19 crisis to avoid a …

Bloomberg UniCredit SpA is considering selling its Russian unit through a structure that would allow the bank to repurchase the subsidiary if the geopolitical situation stabilizes, according to people familiar with the matter. Italy’s second-largest lender is looking at several possible deal arrangements, including one that would give it the option of buying back the unit depending on market and …

Bloomberg Zimbabwe’s central bank plans to sell gold coins to the public from July 25 as a store of value to stabilise the nation’s tumbling currency and offer an alternative to the US dollar. The one-troy-ounce gold coins will be called Mosi oa-Tunya Gold Coin, Governor John Mangudya said. The term means “Smoke that Thunders,” a reference to Victoria Falls, …