Bloomberg South Korea’s central bank cut its economic growth and inflation forecasts and left its key interest rate unchanged as the nation’s export-dependent economy faces rising risks. BOK Governor Lee Ju-yeol said the gross domestic product was now expected to grow 2.5 percent and inflation to register 1.1 percent in 2019. Those marked downgrades from forecasts of 2.6 percent and …

Bloomberg The Bank of Japan (BOJ) cut bond purchases for the first time in two months, surprising traders as local markets approach a 10-day shutdown for this year’s extended Golden Week holidays. The central bank offered to buy 160 billion yen ($1.4 billion) of securities maturing in the 10-to-25 year zone at regular operation, versus 180 billion yen previously. It …

Bloomberg Jet Airways India Ltd, the second local carrier to ground its entire fleet in the past decade, is casting a shadow on India’s booming aviation sector. Once the nation’s biggest airline by market value, Jet Airways’ shares nosedived by a record 31 percent in Mumbai after saying it would suspend operations on a “temporary” basis as it ran out …

Bloomberg Boeing is working through the final steps before asking US regulators to review an update for anti-stall software linked to two fatal 737 Max accidents, an early milestone to lifting a global grounding of its best-selling jet. But there are many steps in the Federal Aviation Administration’s (FAA) assessment of the proposed fix, and that process could stretch well …

Bloomberg Kering reported sales that narrowly beat analysts’ estimates as growth at its flagship Gucci brand cooled from last year’s relentless pace. Gucci’s growth has been slowing gradually in the third year of a blockbuster turnaround under CEO Marco Bizzarri and designer Alessandro Michele, whose decadent products like crystal-coated sunglasses and serpent-painted handbags ushered in an era of new maximalism …

Bloomberg UK retail sales unexpectedly increased for a third consecutive month in March, underlying the resilience of consumers in the face of Brexit uncertainty. The volume of goods sold in stores and online jumped 1.1 percent from February, the Office for National Statistics (ONS) said. Sales excluding auto fuel increased 1.2 percent. Both measures had been expected to show a …

Bloomberg US aviation accident investigators have opened a probe into how an American Airlines plane struck a runway sign while taking off from New York’s John F. Kennedy International airport, forcing the plane back to the airport where it landed safely. The plane, an Airbus SE A321 headed for Los Angeles carrying 102 passengers and eight crew members, hit the …

Bloomberg In a rare retreat for Amazon.com Inc, the e-commerce giant plans to shut down its Chinese marketplace business in July as it shifts its focus to offering mainland consumers overseas products rather than goods from local sellers. Amazon will keep running its other businesses in China, including Amazon Web Services, Kindle e-books, and cross-border operations that help ship goods …

Bloomberg UK house prices stagnated in March as the number of transactions plunged, according to LSL Acadata. Values were flat on an annual basis last month as falls in London and southern England offset gains elsewhere, the firm said in a report. In March alone, prices rose just 0.1 percent, and transactions fell a seasonally-adjusted 15 percent, despite the month …

Bloomberg US new-home construction unexpectedly fell in March, decelerating to the slowest pace since May 2017 and suggesting builders remain wary even as lower mortgage rates and steady wage gains offer support to consumers. Residential starts fell 0.3 percent to a 1.139 million annualised rate after a downwardly revised 1.142 million pace in the prior month, according to government figures …