Bloomberg Tesco plans to cut 4,500 jobs as the supermarket operator slims down hundreds of stores and adds to the mounting toll on employment in UK shopping districts. Britain’s biggest retailer said it will streamline operations at its 153 medium-size Metro stores in city centers, while reducing opening hours at 134 Express convenience stores. The moves announced come on top …

Bloomberg American Airlines Group Inc and Southwest Airlines Co are trumpeting new efforts to cater to lucrative business travellers. Southwest, which pioneered a discount strategy aimed at budget flyers, will give corporate travel managers greater control over bookings. American is wooing them with free preferred seats and priority access through security checkpoints. The moves, announced at the Global Business Travel …

SHABWA/ WAM The United Arab Emirates through its humanitarian arm — the Emirates Red Crescent (ERC) — has provided relief aid to people affected by heavy floods in Merkhah As Sufla District in Shabwa, Yemen. The ERC team distributed 800 food baskets to 4,720 citizens and provided shelter camps for Yemenis whose homes were damaged by the floods. The move …

Bloomberg Oil slid as escalating trade tensions between the US and China prompted investors across financial markets to flee risk assets, though West Texas Intermediate pared losses after a report signaled an inventory drop at America’s main storage hub. Futures fell in London and New York after posting a loss last week. The dispute between the top major economies is …

Bloomberg US equity futures slumped with European stocks on Monday, tracking a sell-off across Asia after China struck back in its trade dispute with America and let its currency weaken through a milestone level. Treasuries led a global bond rally as investors dashed to safer assets. S&P 500 Index futures slumped as much as 1.5 percent, while declines in mining, …

Bloomberg Hong Kong equities are rapidly turning into a losing bet as economic woes and escalating street protests hammer sentiment. The MSCI Hong Kong Index closed down 3.2 percent on Monday in a ninth day of declines, matching the longest streak since the 1997 handover. Landlords and retail stocks once again bore the brunt of the selling as protesters sought …

Bloomberg Australia’s central bank (RBA) chief Philip Lowe is leaving open the door to further interest-rate cuts in order to prevent a wave of global easing from neutralizing his back-to-back reductions and boosting the currency. The Reserve Bank is set to keep the cash rate at a record-low 1% on Tuesday, traders and economists predict, following June and July’s cuts. …

Bloomberg HSBC Holdings Plc abruptly ousted its chief executive officer after just 18 months, citing an “increasingly complex” environment, and announced a new round of job cuts. The exit of John Flint, a 51-year-old who started at HSBC as a trainee, highlights tension with Chairman Mark Tucker, known to be a hard-charging executive who was the first outsider to fill …

Bloomberg Romania prolonged more than a year of steady interest rates, looking past the European Union’s fastest inflation as the world’s major economies pivot towards looser monetary policy. Following the first cut in US borrowing costs since the financial crisis, the National Bank of Romania left its benchmark rate unchanged at 2.5% on Monday, as predicted by economists in a …

Bloomberg Philippine central bank Governor Benjamin Diokno said he expects to cut interest rates by another 50 basis points this year, with the timing dependent on economic data. “Until the end of the year, it’s around 50 basis points,” Diokno said on Monday, when asked if he was open to lowering borrowing costs further. “If we do 50 basis points, …