Bloomberg Sweden is stuck in negative interest rates. That’s the view of fixed-income giant Pacific Investment Management Co, which predicts that Sweden’s central bank will need to leave its benchmark rate at minus 0.25% through 2020. Sweden’s central bank is struggling to exit more than four years of negative rates. A plan to raise rates to zero again towards end ...

Bloomberg HSBC Holdings Plc, the bank that shook up its senior leadership this month, is considering a bid for Asian operations being sold by Aviva Plc as it seeks ways to diversify its business in the region, people with knowledge of the matter said. London-based HSBC is in the early stages of weighing an offer for at least part of ...

Bloomberg The Swiss National Bank (SNB) has a new way of enforcing the world’s lowest interest rate. With the franc near a two-year high against euro, the SNB’s decade-old battle against an overly strong currency is back in focus. There’s evidence it’s been intervening again and analysts are increasingly betting that it will soon follow with a rate cut. That ...

Bloomberg A quarter of Chinese production capacity used by global sportswear brands is lying idle, according to a manufacturing executive, as the protracted trade war pushes the biggest sports labels out of the Asian nation’s factories. The exodus is forcing factories to offer discounts of 10 percent to companies such as his to use their dormant production lines, Chinese sportswear ...

Bloomberg The UK plans to ease security line hold-ups for passengers by requiring all major airports to use 3D scanners for cabin baggage by the end of 2022. The new equipment, which is currently being tested at London’s Heathrow airport, will make the security procedures “quicker and easier” for travellers by ending requirements to remove toiletries and electrical equipment from ...

Bloomberg Cargojet Inc soared to a record high after Amazon.com Inc signed a deal that would allow the online retailer to buy a stake in the Canadian cargo carrier. Under the agreement, Mississauga, Ontario-based Cargojet will issue warrants to Amazon in two tranches to purchase variable voting shares that will vest based on the achievement of certain commercial milestones. “Cargojet ...

Bloomberg Cathay Pacific Airways Ltd said it will show zero tolerance to employees who support or take part in illegal protests ahead of “planned activities” by trade union members around its operational hub Cathay City in Hong Kong on August 26. “Any activities that impact our ability to operate safely not only significantly disrupt the travelling public, but also jeopardise ...

Bloomberg Gap Inc reported another quarter of declining sales at its namesake brand and Old Navy, rattling investors who are still waiting for more details on the planned spinoff of the discount chain. Same-store sales, a closely watched metric in retail, fell 4 percent at the overall company in the second quarter, which was worse than expected. Old Navy, which ...

Bloomberg An association of independent mailbox-store owners is forming a national network for receiving e-commerce packages, seeking to add a layer of security for consumers while capitalising on the surge of online shopping. Retail Shipping Associates (RSA) plans to announce an effort to organise the group’s stores under a national brand called the Package Hub Business Center, which consumers would ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced that it has won the ‘best customer service initiative through the billing sector’ for its ‘high water usage alert initiative’ as part of the Global Business Excellence Awards 2019, organised by the UK-based Awards Intelligence. The Global Business Excellence Awards recognises public and private sector institutions in accordance with rigorous ...