It’s just as well that big companies that process and facilitate payments have quit Facebook’s Libra cryptocurrency project, fearing a regulatory backlash. If Facebook really wants to bring financial services to the “unbanked,” it should try doing it on a smaller scale than these companies’ presence promised. And even then, the probability of failure will be high. It’s clear why ...

Wirecard AG is treating its investors shabbily. The German fintech group has failed to respond convincingly to this week’s allegations that some of its recent financial reporting may be incorrect. Instead, it has aggravated the situation with communication that doesn’t befit a 14 billion euro ($16 billion) member of the blue-chip DAX Index. Revenue and profit for 2016 in particular ...

Climate change has become big news recently — and rightly so. Scientists have delivered important reports about its urgent dangers, political leaders have made pledges to fight it, and youth climate activists have marched in the streets and marked our consciences. This is all for the good. New ideas about electric vehicles, renewable energy, sustainable agriculture and adaptation will enrich ...

Bloomberg US equity-index futures fluctuated along with European stocks on Tuesday as investors weighed a flurry of company results and the odds of the world’s biggest economies agreeing a trade deal in November. Treasuries rose and the pound drifted. S&P 500 futures were little changed after the underlying gauge closed above 3,000 on October 21, less than 1% from a ...

Bloomberg As currency traders gird for parliamentary votes on Boris Johnson’s Brexit deal, their opportunity to win big on the pound is fading fast. The UK Prime Minister was expected to find out whether lawmakers are willing to back his plan, but if they reject it, the risk of a no-deal Brexit that would cause sterling to plummet is now ...

Bloomberg Europe’s top aviation regulator expects to take longer to get Boeing Co’s 737 Max back into service than the projected timeline being taken by the US, which would likely push the grounded plane’s return into next year on the continent. European Aviation Safety Agency (EASA) chief Patrick Ky met with officials from the US Federal Aviation Administration (FAA) to ...

Bloomberg Four airlines operating in South Africa were forced to delay flights and ground some planes after inspections were carried out overnight. State-owned South African Airways and Mango were affected as was Comair Ltd, which operates Kulula and British Airways domestically, according to statements. It’s not routine for airlines in South Africa to suffer simultaneous groundings, but it’s not yet ...

Bloomberg Cathay Pacific Airways Ltd cut its earnings outlook after passenger traffic fell for a second month as protests that have put intense pressure on the carrier continued to disrupt travel and business in Hong Kong. Second-half financial results will be lower than those of the first half, Hong Kong’s flag airline said in a statement, reversing previous forecasts. Cathay ...

Bloomberg Gulfstream is angling to reclaim bragging rights as builder of the world’s biggest private jet. The planemaker unveiled plans to make a roomier version of its flagship G650, which was unseated last year as the largest luxury jet by Bombardier Inc’s Global 7500. Gulfstream’s new G700, with an expected debut in 2022, will be capable of flying 7,500 nautical ...

Bloomberg Swiss watchmaker Swatch Group AG said it will let a licensing agreement with Calvin Klein expire after more than two decades. Recent “turbulence” at Calvin Klein’s management led to the decision to end the alliance, which covered watches and jewelry, the Swiss maker of Omega timepieces said in a statement. PVH Corp, the owner of Calvin Klein, named Cheryl ...