Bloomberg Burundi will relaunch a state-owned airline next year, more than a decade after the failure of its erstwhile carrier, Air Burundi. The state will hold a 92% stake in Burundi Airlines, which will be the latest carrier to enter East African skies after the introduction of Uganda Airlines and the revamping of Air Tanzania Co. A Belgian company will ...

Bloomberg President-elect Joe Biden accused Trump loyalists at national security agencies of throwing up roadblocks to a smooth presidential transition and warned that adversaries could take advantage of the situation without better cooperation from the outgoing administration. “We need to make sure nothing is lost in the hand-off between administrations,” he said after a meeting with his national security advisers ...

Bloomberg The Philippines has decided to ban travellers from 20 nations with the new Covid-19 strain, Labour Secretary Silvestre Bello said on Tuesday. The travel ban covers Australia, Canada, China, Denmark, France, Germany, Iceland, Ireland, Israel, Italy, Japan, Lebanon, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, The Netherlands, and the UK, Bello said. The ban will be effective December ...

Bloomberg Hong Kong media tycoon Jimmy Lai, who was charged earlier this month with colluding with foreign forces under city’s new national security law, resigned as chairman of Next Digital Ltd, the company he founded said in a filing on Tuesday. Lai, 73, tendered his resignation “in order to spend more time dealing with his personal affairs,” according to the ...

Bloomberg US President Donald Trump’s campaign to cut North Korea’s economy off from the world worked. But it also may have accelerated Kim Jong Un’s efforts to build a military less reliant on foreign support. The North Korea awaiting President-elect Joe Biden is more dangerous and more self-reliant, possessing at least three different intercontinental ballistic missiles capable of carrying nuclear ...

Bloomberg Croatia suffered its strongest earthquake in 140 years — for the second time in 2020 — with the tremor devastating the city at its epicenter, killing at least one person and rattling Europeans as far away as Rome and Vienna. The temblor, measured at 6.3 by the European-Mediterranean Seismological Centre on Tuesday, was larger than both a 5.2 quake ...

Bloomberg The trade deal that both sides of the English Channel say reflects a new era of cooperation is essentially a sideshow for the City of London, which is still awaiting its own seal of approval from the European Union (EU). EU officials must rule separately that British financial regulations and oversight are strong enough to create a level playing ...

Bloomberg A European Central Bank (ECB) push to make it easier for the region’s chronically unprofitable banks to merge is facing opposition from some national regulators, with one top official warning it could backfire and damage the integration of the financial system. Proposals by ECB supervisory board chair Andrea Enria to give banks more freedom to source funds in one ...

Bloomberg Sheila Patel, chairman of Goldman Sachs Group Inc.’s asset-management unit, is leaving the $1.8 trillion division after almost two decades at the firm. Patel, 51, is among the company’s most senior women and shepherded some of Goldman’s highest-profile relationships with investors around the world. She will step down from the partnership and become an advisory director in the new ...

Bloomberg Goldman Sachs Group Inc. is leading a $65 million financing in Echelon Fitness, giving the bank and another investor a controlling stake in a maker of exercise machines as more people work out at home amid the pandemic. The Chattanooga, Tennessee-based company competes with Peloton Interactive Inc., Lululemon Athletica Inc.’s Mirror, Tonal, Tempo, Icon’s NordicTrack, Hydrow and other connected ...