Just when you think banks in India can’t possibly deliver any more bad news, a near $1 billion scandal drops without warning. The alleged wrongdoing at Punjab & Maharashtra Co-operative (PMC) Bank differs from previous Indian banking scams in that savers are on the hook this time around, a situation that can’t be allowed to continue without chilling consequences for ...

Bloomberg Futures on US equity indexes ticked lower while the yuan slipped on Monday on concern China may be increasingly reluctant to agree a broad trade deal with the Trump administration. European stocks gained and Treasuries fluctuated. Contracts for the three main US gauges came off their session lows but still pointed to a weak start on Wall Street after ...

Bloomberg Chinese financial markets are set to open for the first time in a week on Tuesday, with investors likely to focus on this week’s trade talks with the US and the worsening situation in Hong Kong. Room for disappointment in both is growing. Senior Chinese officials have indicated the range of topics they’re willing to discuss has narrowed considerably, ...

Bloomberg Boeing Co’s ventures with Embraer SA face a deeper antitrust probe from the European Union as regulators said the transaction threatens to knock out an important rival to the world’s biggest planemakers. The European Commission has until February 20 to issue a ruling on the deal after opening an “in-depth investigation,” according to a statement. Boeing and Embraer, which ...

Bloomberg Ted Baker Plc lost more than a third of its value after the UK apparel chain sank to a loss and warned that its performance could worsen amid price competition and a shift to online shopping. The retailer has been reeling since the resignation of founder Ray Kelvin. While the company has moved to improve office conduct, it’s succumbing ...

Bloomberg Burberry Group Plc is encouraging clients to give their old looks a second life by selling them online, a move that could help pull in holiday shoppers and bolster appeal with the environmentally conscious. In a rare partnership between a fashion house and the burgeoning marketplace for used luxury products, Burberry is teaming up with consignment website The RealReal. ...

Bloomberg Retail has been one of the hottest sectors among recent Southeast Asian initial public offerings, as investors look to cash in on consumers’ increasing spending power in the region. “The domestic consumption growth story in Southeast Asia remains an attractive thematic for equity investors,” said Ho Cheun Hon, head of Southeast Asia equity capital markets at Credit Suisse. Home ...

Bloomberg PepsiCo Inc is getting a boost from higher prices on its drinks and snacks, a sign US consumers still feel good amid recent indicators of a looming economic slowdown. The snack and beverage giant said it will meet or exceed its full-year revenue growth after sales and profit both topped Wall Street estimates for last quarter. The results showed ...

Abu Dhabi / WAM Under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, HH Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, officially opened the 26th World Road Congress Abu Dhabi 2019 on Sunday as discussions on ...

Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) on Sunday listed the Emirate of Abu Dhabi Global Medium Term Note Programme total amount of $ 10,000,000,000 in three tranches, according to ADX’s official website. Demonstrating strong investor confidence in its solid credit fundamentals, the Emirate of Abu Dhabi on September 23 successfully priced a $10 billion multi-tranche international ...