Bloomberg The billionaire Benetton family agreed to sell their controlling stake in highway restaurant operator Autogrill SpA to duty-free company Dufry AG, creating a $6 billion player in the travel retail market and accelerating the overhaul of the Italian industrial clan’s holdings. As part of the deal, the Benettons will sell their majority stake in Autogrill to become the ...

  Bloomberg SpiceJet Ltd, the Indian airline already under scrutiny from regulators in the country, had another technical issue after a flight to Dubai, according to people familiar with the matter. The plane, an eight-year-old Boeing Co 737 next generation jet, had flown from India to Dubai and after landing was discovered to have a technical issue with its nose ...

Bloomberg Australia’s Defence Minister Richard Marles has called for the US to grow its military presence in the Indo-Pacific, warning that a failure to maintain the balance of power in the region could be “catastrophic.” Speaking in Washington DC, Marles, who is also Australia’s deputy prime minister, said the region was currently facing a military build-up “at a rate unseen ...

  Bloomberg Basil Rajapaksa, the former finance minister of Sri Lanka and brother of the outgoing President Gotabaya Rajapaksa, attempted to leave the country early Tuesday but was turned back by airport officials, according to a person with knowledge of the matter. People at the main international airport serving Colombo began protesting when they saw Basil Rajapaksa trying to depart, ...

Bloomberg The race to succeed Boris Johnson as UK prime minister is taking shape as two Conservative big hitters, Home Secretary Priti Patel and Transport Secretary Grant Shapps, opted out ahead of the first round of voting. Patel’s move is likely to favor Foreign Secretary Liz Truss’s bid to be the preferred candidate of the low-tax, Thatcherite wing of the ...

Bloomberg President Joe Biden and his Mexican counterpart, Andres Manuel Lopez Obrador, plan to discuss ways to expand legal migration, improve security and strengthen their shared border during a White House meeting on Tuesday. The two leaders will announce joint actions to improve infrastructure and cooperation along their almost 2,000-mile boundary, according to Biden administration officials, who briefed reporters on ...

  Bloomberg Elon Musk said Donald Trump should “sail into the sunset” rather than run for president again and predicted Florida Governor Ron DeSantis will easily beat Joe Biden if the two square off in 2024. In a series of tweets to his more than 100 million followers, Musk pointed out Trump, now 76, would be 82 by the end ...

Bloomberg Europe’s common currency edged closer toward parity with the US dollar on Tuesday as energy concerns and the risk of recession weighed on the outlook for the euro area, while risk aversion fuelled a broad rally in the greenback. The euro dropped as much as 1.3% to $1.0005, eclipsing its low from last week. The last time it was ...

  Bloomberg Chinese authorities will start repaying most of the victims in the nation’s biggest bank scam after hundreds of angry customers took to the streets again over the weekend to ratchet up pressure on the government. Clients from the four rural banks in the central province of Henan and one in Anhui will be repaid “in advance” starting Friday, ...

Bloomberg The yen falls to a fresh 24-year low after Japan’s ruling coalition expanded its majority in the upper house election, with investors interpreting the result as a quasi-referendum on the country’s super-easy monetary policy. The currency falls as much as 0.9% against the dollar, breaching the closely-watched 137 level. Bank of Japan Governor Haruhiko Kuroda reiterated that he won’t ...