The public outcry against bank bailouts during the financial crisis prompted European governments to constrain the use of public money to help lenders in crisis. New trouble at the region’s oldest bank will test whether these rules can outlast the pandemic. The Italian government faces an impossible decision over Monte dei Paschi di Siena SpA. Italy nationalised the bank in ...

President Donald Trump’s wholesale removal of the top civilian leadership of the Defense Department almost certainly isn’t the coup-in-the-making that some of his critics have alleged. Even so, the purge threatens to inflict lasting damage on America’s national security — unless Congress is prepared to rein the president in. Trump’s post-election firing of Defense Secretary Mark Esper was not wholly ...

Bloomberg It’s not just Boeing Co’s 737 Max that needed repairs. The US Federal Aviation Administration (FAA), which approved what officials acknowledge was a flawed design implicated in two deadly crashes of the jetliner, found itself facing criticism from regulators around the world — a stunning turnabout for an organisation accustomed to global deference. In the wake of the disasters, ...

Bloomberg Amazon.com Inc and other major retailers in France agreed to postpone Black Friday amid an outcry from smaller rivals, which have been campaigning to re-open physical stores before the promotional event. Amazon and traditional retailers, including Galeries Lafayette department stores, agreed to postpone the shopping holiday from November 27 to December 4. All non-essential stores in France have been ...

Bloomberg American Airlines Group Inc is stepping back from fees of as much as $750 to change tickets for international travel, largely abandoning a widely loathed charge as the company rushes to lure passengers back to its long-distance flights. Change fees will cease on flights originating in North or South America for all but the cheapest “basic economy” fares, American ...

Bloomberg The founders of troubled Mexican airline Interjet are negotiating a settlement with tax authorities in an effort to avoid potential criminal fraud charges that could be filed as soon as next month, said an official familiar with the matter. Miguel Aleman Magnani, Interjet’s chief executive officer, and his father, Chairman Miguel Aleman Velasco, could face fraud charges, as could ...

Bloomberg Foot Locker Inc rose in early trading after surprisingly robust same-store sales powered earnings past analysts’ estimates. The athletic-footwear retailer said that comparable sales rose 7.7% in the period, better than the 0.9% analysts expected according to Consensus Metrix. Adjusted earnings of $1.21 a share topped the estimate of 66 cents compiled by Bloomberg. Foot Locker continued the resilience ...

Bloomberg President Donald Trump is facing rising pressure from prominent Republicans to begin a transition to President-elect Joe Biden — or even concede defeat — as Trump’s long-shot legal challenges failed to gain traction. Several key allies for Trump appeared to lose their patience over the weekend. Senators Lisa Murkowski of Alaska and Kevin Cramer of North Dakota — one ...

Bloomberg Foreign Secretary Dominic Raab is consulting with the UK’s most senior legal officer on the position of British judges in Hong Kong’s Court of Final Appeal, as he condemned China’s “chilling” national security law for suppressing legal freedoms in the former British colony. Hong Kong’s independent judiciary is a key to its success as a global financial hub, and ...

Bloomberg Ethiopia’s government and Tigrayan authorities have issued contradictory accounts of who’s winning a conflict that’s been raging in the dissident northern state since November 4 and triggered a humanitarian crisis in Africa’s second-most populous nation. Prime Minister Abiy Ahmed’s administration said its troops have seized control of several Tigrayan towns, indicated the fall of its capital, Mekelle, is imminent ...