Bloomberg Air Canada shares dropped after the company said that it will make “meaningful” reductions to its summer flight schedule in order to quickly bring passenger volumes down to a manageable level. Canada’s largest air carrier fell 6%, recovering slightly from an 8.8% tumble in intraday trading — its biggest drop since early March — as investors balked at …

  Bloomberg Gucci’s former London headquarters is being offered for sale for £55 million ($66.6 million) after being transformed into the most expensive house currently on the market in the capital’s Mayfair district. The house, also available to lease for £40,000 a week, includes eight bedrooms, a garden terrace, a swimming pool, conservatory and sun room. Demand for London’s best …

  Bloomberg Delta Air Lines’s chief executive officer apologised to customers for an “unacceptable” level of cancelled and delayed flights, an unusual step that reflects mounting frustration among waylaid summer travelers. Delta is adding extra boarding time for flights, building in more of a buffer in crew schedules to mitigate disruptions and using white collar salaried workers to help speed …

  Bloomberg Walgreens Boots Alliance Inc maintained its guidance for 2022 earnings even as the drugstore chain beat Wall Street’s estimates for fiscal third-quarter profit and revenue, another hiccup after it abandoned the planned sale of its UK pharmacy unit. Adjusted earnings were 96 cents a share, Walgreens said in a statement, compared with the average estimate of 94 cents, …

  Bloomberg The number of active cryptocurrency users at Bank of America has declined by more than half amid the prolonged rout in the digital-asset market. The bank’s crypto users shrunk to below 500,000 in May from more than 1 million in November 2021, when Bitcoin and some other tokens hit all-time highs. Since then, crypto prices have cratered, with …

  Bloomberg The Czech central bank’s new governor promised to pursue its goal of price stability as investors are waiting to see how the new management will tackle the fastest inflation in three decades. In a statement published on his first day in office, Ales Michl said he wanted to achieve “low and stable” consumer price growth and “maintain confidence …

Bloomberg The chief of Japan’s banking industry lobby group is calling on the nation’s central bank to pay closer attention to the adverse impacts of its ultra easy monetary policy after the yen plunged to a 24-year low. “I think it’s important to take a balanced policy approach by considering merits and side effects,” Japanese Bankers Association Chairman Junichi Hanzawa …

  Bloomberg BNP Paribas SA is exiting its commodities finance business in the US, following earlier retreats in other parts of the world. “The decision taken to exit this business was consistent with our approach in EMEA,” the bank said in a statement in response to questions. “The impact is limited, and BNP Paribas remains deeply committed to the US …

  Bloomberg Citigroup Inc is discussing the potential sale of its operations in Russia with privately owned Russian companies including Expobank and the insurer Reso-Garantia, the Financial Times reported. The Wall Street bank is negotiating over its consumer and commercial businesses, the newspaper reported, citing people familiar with the matter. Rosbank, Societe Generale SA’s former Russian subsidiary, has also expressed …

  Bloomberg Singapore’s largest lender DBS Group Holdings Ltd. has raised the rates on all its home loan packages, The Straits Times (ST) reported, as it joins other banks in tracking the Federal Reserve’s decision to boost interest rates to tame inflation. DBS also scrapped its five-year fixed rate package for owners of public housing apartments, the ST said, citing …