Bloomberg UBS Group AG won an early release from a ban on sponsoring initial public offerings in Hong Kong, setting it up to once again broker deals in the world’s busiest market. The lifting of the ban comes after UBS “engaged and cooperated” with an independent 10-month review over its policies, procedures and practices, the Securities and Futures Commission said ...

Bloomberg Visa Inc grew into one of the world’s most valuable financial companies by serving as the pipes that help connect banks and merchants. Now, it’s making a major bet on doing the same for data between banks and financial startups. Visa agreed to pay $5.3 billion for Plaid, a fintech firm that connects popular apps like Venmo to customers’ ...

Bloomberg Danske Bank A/S is offering 2,000 of its employees in Denmark a sweetened package to step down as the cost of adapting to a world with stricter regulations and negative interest rates just keeps growing. Staff have until the end of January to decide, according to an emailed comment sent by the bank. Denmark’s bankers’ union said Danske is ...

Bloomberg The Federal Reserve can “sit back” and allow the economy to keep growing because there are no signs of overheating, said Federal Reserve Bank of Atlanta President Raphael Bostic. “The economy is doing fine,” he told the Rotary Club of Atlanta. “There is not a lot that we have to do to stimulate or slow down. We’re not seeing ...

Bloomberg London’s Heathrow airport has deployed a system designed to block drones entering its airspace following a string of recent attempts that threatened Europe’s busiest travel hub. The airport, classified as a flight restriction zone by authorities, is now using a product manufactured by France’s Thales SA to detect and identify drones. The French company declined on Tuesday to detail ...

Bloomberg Vietnamese conglomerate Vingroup JSC is abandoning plans to launch Vinpearl Air so it can focus on other businesses, including electric vehicle manufacturing. “The aviation market of Vietnam has a lot of potential and is developing strongly, but it also has large companies already in operation,” Vingroup Vice Chairman Nguyen Viet Quang said in an email statement. “Vingroup’s strong investment ...

Bloomberg Chow Tai Fook Jewellery Group Ltd said it plans to shut about 15 of its Hong Kong stores after their leases expire this year, in a sign that major retailers are starting to withdraw from the city’s economy as anti-China protests continue. In the first significant pullback by a luxury retailer after months of fiery demonstrations that have driven ...

Bloomberg With UK airline Flybe Group Plc teetering on the brink of collapse, prime minister Boris Johnson faces a dilemma. Should the government stick to its long-held policy and let market forces take their course, or step in and help Flybe owners including Virgin Atlantic Airways and private-equity firm Cyrus Capital with a rescue? The decision would normally be a ...

Bloomberg Shares of Ryohin Keikaku Co tumbled 19%, the most on record, after the Muji operator cut its profit forecast, citing uncertainty in its East Asian operations. The retailer of everything from furniture to clothing and food lowered its full-year operating profit target 17% to 37.8 billion yen ($343 million). It reported third-quarter operating profit of 9.2 billion yen versus ...

Abu Dhabi / WAM Abu Dhabi Distribution Company (ADDC) – a subsidiary of Abu Dhabi Power Corporation, ADPower – illustrated a number of its most advanced initiatives at Abu Dhabi Sustainability Week (ADSW) 2020, reinforcing its firm commitment to driving sustainability within its operations and customer base, and accelerating the emirate’s progress alongside the UAE’s sustainability goals. Commenting on the ...