Bloomberg A Boeing Co 737-800 jetliner bound for Ukraine that crashed after takeoff in Iran, killing everyone on board, was most likely brought down by an engine fire, according to Tehran authorities. Ukraine International Airlines said 167 passengers and nine crew were on the plane, an older version of the 737 that predates Boeing’s grounded Max model, which crashed at ...

Bloomberg United Airlines Holdings Inc is taking a $90 million non-cash charge in the 2019 fourth quarter to account for a steep drop in demand for flights to Hong Kong, which has been roiled by protests against the Chinese government for more than half a year. Hong Kong International Airport, a major passenger and cargo hub, imposes landing and arrival ...

Bloomberg Airlines around the world diverted flights from the airspace over Iran, Iraq, and the Persian Gulf after Tehran fired more than a dozen missiles at US forces in the region. In the wake of the attack, carriers ranging from Singapore Airlines Ltd and Qantas Airways Ltd to Air France-KLM and Deutsche Lufthansa AG have said they’re avoiding the area, ...

Bloomberg Chinese state-owned conglomerate Citic Ltd is planning to significantly reduce its stake in McDonald’s China Co more than two years after it bought into the fast-food chain, as rising costs pinch the franchise’s profit. McDonald’s China said in a statement on Wednesday that Citic is looking for buyers for a 22% stake, which will bring its share in the ...

Bloomberg A major parking-garage fire at an airport on Norway’s west coast destroyed hundreds of cars, grounded air traffic and led to an evacuation of the facilities. The fire, which started on January 07 afternoon and spread to several floors of the garage, was partly contained by 9:30 pm local time, Norwegian news agency NTB reported, citing police. There were ...

Bloomberg Forever 21 Inc can add a lawsuit to the hurdles it’s trying to overcome as it works to woo investors in time to finance its exit from bankruptcy. An Alabama mall owner is suing Forever 21, saying it lost millions of dollars leasing space to the retailer based on misleading sales targets. Forever 21 is accused of misrepresenting sales ...

Bloomberg US stocks extended gains and Treasuries turned lower after President Donald Trump toned down rhetoric against Iran, suggesting further military force is not needed. The S&P 500 pushed to a fresh intraday record after Trump said Iran appears to be “standing down,” and announced further sanctions on the country. Ten-year Treasury yields rose after tumbling overnight following Iranian airstrikes ...

Bloomberg Billionaire money manager Jeffrey Gundlach said his strongest market conviction is that the still-resilient dollar will weaken. The greenback has largely defied expectations for its demise, with the Bloomberg Dollar Spot Index ending last year less than 1% lower as foreign-exchange volatility dwindled. But the DoubleLine Capital chief executive officer said growing US government and trade deficits, a steepening ...

Bloomberg Bitcoin climbed to the highest since November after breaching the $8,000 price level. Concerns about an escalation in the conflict between the US and Iran are seen as contributing to the rally in Bitcoin, which is not managed by a government. “Bitcoin and gold are well supported due to rising tensions between the US and Iran,” said Emmanuel Goh, ...

Abu Dhabi / WAM Masdar City, Abu Dhabi’s flagship innovative and sustainable urban development, has officially broken the Guinness World Record for the world’s largest mosaic made from recycled materials. The mosaic, which measures 1,015 square metres – around the size of two basketball courts – took one month to assemble and contains almost 90,500 recycled items, including plastic bottles, ...