Bloomberg The rupee hit the year’s lowest level and stocks fell the most in nearly eleven months on concerns that foreign funds may continue to head for the exits amid the slump in economic growth. Sovereign bonds rose as the weak data bolstered bets for deeper interest-rate cuts. The rupee slid as much as 1.4 percent, with the stronger dollar …

Bloomberg When American Airlines Group Inc exited bankruptcy in 2013, its new boss vowed to trounce rivals within a few years. These days, those competitors are delivering the beating. American is underperforming Delta Air Lines Inc and United Airlines Holdings Inc on profit margins and on-time arrivals. Investors are punishing American’s stock, sending the shares to the biggest decline this …

Bloomberg Cathay Pacific Airways is under investigation by Chinese regulators after emergency oxygen bottles on three flights were found depleted or completely empty, compounding pressure on the Hong Kong airline from mainland authorities. Cabin crew from the flights have been grounded so they can help with the probe, Cathay told staff in a memo. As well as the Civil Aviation …

Bloomberg Hurricane Dorian upended Labor Day travel plans for hundreds of thousands of people in the Southeastern US, as fierce winds and torrential rains forced widespread cancellation of rail service and airline traffic. According to FlightAware, a flight-tracking website, airlines cancelled 1,152 flights on September 2. The hardest-hit airport was Fort Lauderdale International in Florida, which closed at noon on …

Bloomberg Fast-fashion giant Zara denied speculation on Chinese social media that the retailer’s employees were supporting anti-Beijing protests that disrupted some of its store operations. “Zara has never made any comments or undertaken any actions related to a strike in Hong Kong,” the company said in a post on its Weibo account. “Zara does not back a strike and supports …

Bloomberg / WAM Emirates NBD Bank (Emirates NBD), on Monday announced its intention to increase Foreign Ownership Limit (FOL), to 40 percent in the future, and will seek necessary approvals from its shareholders and the relevant regulatory authorities, in due course. Emirates NBD also announced the implementation of an immediate increase in its FOL from 5 percent to 20 percent after …

Bloomberg Opec’s crude production rose last month, the first increase since the group and its allies started a new round of output cutbacks at the start of the year to shore up a weak global market. Nigeria and Saudi Arabia led the boost by the Organisation of Petroleum Exporting Countries (Opec), which collectively increased by 200,000 barrels a day to …

Bloomberg Manufacturing across vast parts of Europe and Asia remain deeply mired in a crisis that took another turn for the worse over the weekend. One day after the US and China enacted new tariffs on each other’s imports, factories from Germany and Italy to Japan, South Korea and Taiwan sent a gloomy reminder that they are suffering badly from …

Bloomberg Nigeria will continue swapping crude for fuel for at least three more years because its refineries are still not fully operational. Africa’s biggest oil producer, which previously had a goal of revamping the plants by this year, will persist with an annual swap program until the refineries are fixed by 2023, Mele Kyari, the state oil company’s new managing …

Bloomberg The world’s first project to turn biogas from sewage into hydrogen and graphite has received backing from the Australian government as part of the nation’s efforts to develop hydrogen as a clean alternative fuel source. The Australian Renewable Energy Agency granted conditional approval for up to $6.3mn in funding for the 100 ton per annum project, which uses technology …