Bloomberg Four airlines operating in South Africa were forced to delay flights and ground some planes after inspections were carried out overnight. State-owned South African Airways and Mango were affected as was Comair Ltd, which operates Kulula and British Airways domestically, according to statements. It’s not routine for airlines in South Africa to suffer simultaneous groundings, but it’s not yet …

Bloomberg Cathay Pacific Airways Ltd cut its earnings outlook after passenger traffic fell for a second month as protests that have put intense pressure on the carrier continued to disrupt travel and business in Hong Kong. Second-half financial results will be lower than those of the first half, Hong Kong’s flag airline said in a statement, reversing previous forecasts. Cathay …

Bloomberg Gulfstream is angling to reclaim bragging rights as builder of the world’s biggest private jet. The planemaker unveiled plans to make a roomier version of its flagship G650, which was unseated last year as the largest luxury jet by Bombardier Inc’s Global 7500. Gulfstream’s new G700, with an expected debut in 2022, will be capable of flying 7,500 nautical …

Bloomberg Swiss watchmaker Swatch Group AG said it will let a licensing agreement with Calvin Klein expire after more than two decades. Recent “turbulence” at Calvin Klein’s management led to the decision to end the alliance, which covered watches and jewelry, the Swiss maker of Omega timepieces said in a statement. PVH Corp, the owner of Calvin Klein, named Cheryl …

KIGALI / WAM Global trade enabler DP World inaugurated its Kigali Logistics Platform in the presence of President Paul Kagame of Rwanda, and DP World Chairman and CEO, Sultan Ahmed bin Sulayem. The facility, which has been operational since September 2018 in test mode, has an annual capacity of 50,000 TEUs. When operating at full capacity, it has the potential …

Bloomberg Oil fell again after a weekly loss amid ongoing concern that a fragile economic outlook will continue to weigh on fuel demand. Futures declined 0.6% in New York after dropping 1.7% last week. Policy makers in China, the world’s second-biggest oil consumer, are preparing for two key meetings with fresh evidence that economic growth will slip further from its …

Bloomberg China is seeking $2.4 billion in trade countermeasures against the US in a seven-year-old case it lodged with the World Trade Organisation (WTO). In a document published on the WTO’s website on Monday, China requested that the Geneva-based trade arbiter discuss the matter at its next meeting of its dispute settlement body on October 28. “In response to the …

Bloomberg UBS Group AG is cutting about 40 jobs in the Asia-Pacific region as part of a global push to trim costs and combine its trading units, according to a person familiar with the matter. The staff reductions are roughly split between UBS’s markets and investment-banking teams, with a majority at the level of vice president or below, the person …

Bloomberg JPMorgan Chase & Co says the money-market stress that sent short-term borrowing rates surging last month is likely to get much worse despite the Federal Reserve’s attempts to inject billions of dollars into the financial system. The Fed has offered overnight loans and started buying up to $60 billion of US Treasury bills a month in an effort to …

Bloomberg The head of Facebook Inc’s Libra project said that it could use cryptocurrencies based on national currencies like the dollar, rather than the synthetic one it initially proposed, Reuters reported. David Marcus, who oversees the Libra initiative for Facebook, told a banking seminar hosted by the Group of 30 in Washington that Facebook is open to looking at alternative …