Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary told workers the budget airline needs 1,500 fewer pilots and cabin crew than originally envisaged amid a slump in earnings and delays to expansion plans forced by the grounding of Boeing Co’s 737 Max jetliner. In a video message to staff seen by Bloomberg, O’Leary said the carrier has an excess …

Bloomberg Singapore Airlines Ltd posted a 20 percent decline in first-quarter earnings, weighed down by rising fuel costs and expenses from the grounding of six Boeing 737 Max aircraft. Net income in the three months to June fell to S$111.1 million ($81.2 million), from S$139.6 million a year ago, Singapore Air said in a statement. Sales climbed 6.7 percen to …

Bloomberg L’Oreal SA shares tumbled as a drop in North American sales raised concerns that a makeup boom fuelled by beauty bloggers and selfies has lost steam. The stock fell as much as 4.9 percent in Paris trading, the most in three years. The sales decline in a crucial region came even as demand from China lifted the world’s biggest …

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Tuesday that it has entered into a further follow-on pipeline infrastructure investment agreement with GIC, Singapore’s sovereign wealth fund. GIC will invest $600 million in select Adnoc crude pipeline infrastructure, following BlackRock, KKR and the Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF) who earlier this year …

Bloomberg The pound slumped for a fourth day as investor concerns over a no-deal Brexit intensified. Sterling continued its slide versus both the dollar and the euro, with investors pricing a higher chance of the UK crashing out of the European Union on October 31. As differences between the two sides increase, Prime Minister Boris Johnson’s office said the UK …

Bloomberg US President Donald Trump’s assault on the World Trade Organization — and the global system of rules that guide inte- rnational businesses — may be quietly scoring a major victory. Thanks to a US veto on new appeals judges, the WTO’s dispute arm is expected to start slipping into the institutional equivalent of a coma at the end of …

Bloomberg US stocks fell a second day amid a mixed bag of corporate results and growing speculation a trade deal with China remains elusive. Treasuries edged higher as the Federal Reserve began deliberating on the path for interest rates. The S&P 500 Index slumped, with overnight trading reaching lows after President Donald Trump criticised China just as his negotiators start …

Bloomberg One of this year’s best-performing stock markets has just hit a fresh record. Australia’s S&P/ASX 200 Index reached its highest level, having added about $239 billion in value this year as investors cheered a dovish central bank, a surprise federal election victory by the incumbent center-right government and skyrocketing iron ore prices. The gauge rose 0.3 percent to close …

Bloomberg Citigroup Inc is preparing to cut hundreds of jobs in its trading division — stark new evidence that an industrywide slump in revenue this year may be more permanent than the tweets and policy moves rattling clients. The New York-based bank plans to slash jobs across its fixed-income and stock-trading operations over the course of 2019, according to people …

Bloomberg Sweden’s economy unexpectedly shrank in the second quarter, casting further doubts on the Riksbank’s plans to continue to raise rates. Gross domestic product contracted 0.1 percent in the second quarter from the first, according to preliminary numbers from Statistics Sweden. Economists had predicted an expansion of 0.3 percent. Annual growth was 1.4 percent while economists and the Riksbank had …