Bloomberg Cathay Pacific Airways Ltd has decided to close its pilot base in London, saying many of its staff there haven’t had any flying duties since April 2020 because of the impact of the pandemic. The airline didn’t disclose how many pilots would be affected, but said in a statement they are being offered the option of relocating to Hong ...

Bloomberg Anne Hidalgo, the Socialist mayor of Paris, became the latest politician to announce she intends to challenge Emmanuel Macron in April’s presidential election. “I have decided to be a candidate for the presidency of the French republic,” she said on Sunday in Rouen, north of Paris. “I am ready.” Hidalgo, 62, must first win the formal support of her ...

Bloomberg The US and the Philippines will resume defense projects after the Southeast Asian nation agreed to keep a military pact that President Rodrigo Duterte threatened to scrap, allowing both sides to boost longstanding alliance in the region. Philippine Defense Secretary Delfin Lorenzana met with his US counterpart Lloyd Austin in Washington on where the two sides reaffirmed their commitment ...

Bloomberg Hong Kong Chief Executive Carrie Lam hinted at a government restructuring before the end of her term to establish new bureaus coordinating land use and cultural policies, the South China Morning Post reported. Speaking at a public consultation session, Lam said it’s time to think about reforms “drastically” and that there’s consensus for bureaus to enhance land and housing ...

Bloomberg The UK will abandon plans to call for proof of vaccination to enter certain venues, and may soon drop mandatory testing for returning travelers as part of a further easing of coronavirus restrictions to be announced this week, even as cases remain high. Health Minister Sajid Javid spoke ahead of steps expected to be announced by Prime Minister Boris ...

Bloomberg Guinea’s coup leader Mamady Doumbouya said he will meet socio-economic and political officials of the West African country as part of the transition after seizing power a week ago. The meetings will start from September 14 with leaders of political parties and religious groups, before they are extended to civil society organisations and representatives of diplomatic missions in the ...

Bloomberg China’s central bank is increasingly making use of one of its lesser known monetary policy tools to support the economy, a move that analysts say suggests less need for broad policy action like interest rate cuts. The People’s Bank of China (PBOC) is turning to its relending program, providing loans to commercial banks for lending to customers. The funds ...

Bloomberg The Swiss National Bank’s (SNB) negative interest rates remain essential to prevent a rise in the franc that thwart economic growth, Vice President Fritz Zurbruegg told Sonntagszeitung in an interview. Although the SNB will raise borrowing costs when necessary, “at the moment we need the negative interest rates due to the situation globally,” he said. “If we were to ...

Bloomberg Nigeria’s central bank says it’s investigating the foreign-exchange transactions of lenders operating in the country. Following “recent occurrences in the market,” the central bank of Nigeria “would like to remind banks to desist from all and any forms of FX malpractices,” the regulator said in a statement. Any lenders “found culpable with ongoing investigations” could have their foreign-exchange operating ...

Bloomberg Evercore Inc has hired Adi Jayaraman from Citigroup Inc for its financial technology investment banking business. Jayaraman will be a senior managing director leading fintech based in New York. Evercore has boosted its technology investment banking business in the past few years. The boutique investment bank was named exclusive financial adviser to Nuance Communication Inc on its pending sale ...