Boeing Co. has a long way to go to rebuild its tarnished reputation on safety, but it’s moving in the right direction. The planemaker named Beth Pasztor — a 34-year Boeing veteran with a background in engineering and compliance — as the head of a new organisation focused on the safety of its products and services. The appointment is in ...

Apple Inc. is squaring up with tech’s European bete noire, MargretheVestager, over its historical tax arrangements in Ireland at a court hearing this week. If the iPhone maker wins, Vestager may be able to use the defeat to her benefit. Back in 2016, EU Competition Commissioner Vestager imposed a 13 billion-euro ($14.4 billion) bill on Apple for unpaid taxes in ...

Bloomberg Some of the highest valuations in years can’t keep exchange-traded fund investors from hunkering down in the safest pockets of the US equity market. As the S&P 500 Index began October with its third week of losses, utilities ETFs took in $726 million, the most of any industry, data compiled by Bloomberg show. Investors had already piled into defensive ...

Bloomberg The franc is trading near a two-week low versus the euro on Swiss data weakness, with both positioning and charts signaling more short-term pain. Yet, losses may be limited as the currency’s haven appeal should eventually prevail amid the deepening global economic gloom. The franc has pared its year-to-date advance to about 3% on expectations the Swiss National Bank ...

Bloomberg India plans to allow foreign-exchange settled rupee derivatives trading in specially designated centers as it tries to deepen the local market. The non-deliverable forwards will be traded on the International Financial Services Centres, the Reserve Bank of India said. GIFT City in Indian state of Gujarat is currently the only operational venue. Trading in the onshore market has been ...

Bloomberg Ethiopian Airlines Group would consider buying a stake in South African Airways (SAA) — should South Africa decide to sell equity in the struggling state carrier. SAA hasn’t made a profit since 2011 and delayed the release of annual earnings due to its precarious financial state. While the ruling African National Congress has frequently said that it would consider ...

Bloomberg EasyJet Plc could develop more business with hotel chains after the collapse of tour operator Thomas Cook Group Plc, the low-cost airline’s chief executive officer said in an interview to Die Welt. The airline has begun to expand its package tour business and was over the summer able to take advantage of its relationship with hotel chains already concerned ...

Bloomberg Costco Wholesale Corp reported quarterly profit that fell short of estimates, and US sales, while still brisk, also slightly missed. The company’s shares fell in late trading. Same-store US sales excluding gas rose 5.2% in the quarter, falling just short of analysts’ projections compiled by Consensus Metrix. Earnings per share were $2.47, below the average estimate of $2.54. Costco ...

Bloomberg Barneys New York Inc is in advanced talks with a group of retail industry investors looking to buy the company out of bankruptcy for about $220 million, according to people with knowledge of the situation. The effort is being led by Sam Ben-Avraham, known for his roles in starting New York retail store Atrium and streetwear brand Kith, the ...

Bloomberg Bed Bath & Beyond reported a tenth straight quarter of falling sales, but assured investors it’s making progress towards stabilsation and an organisational overhaul. The shares bounced between losses and gains in late trading. Same-store sales, an important measure for retailers, fell 6.7% in the company’s second quarter. That’s more than analysts’ average estimate for a 5.3% decline, according ...