Bloomberg European lawmakers should play a bigger role in scrutinising the European Central Bank and appointing its key officials, according to a report from the Positive Money Europe advocacy group. The organisation, which wants a fairer banking system and opposes policies such as quantitative easing, recommen-ds giving politicians more time to put questions to President Mario Draghi at his quarterly ...

Bloomberg The European Union is preparing retaliatory tariffs against the US over subsidies to Boeing Co, significantly escalating transatlantic trade tensions hours after Washington vowed to hit the EU with duties over its support for Airbus SE. The two sets of planned punitive measures are the latest twists in a 14-year-old dispute that the US and EU have fought at ...

Bloomberg Boeing Co’s plan to cut its 737 jetliner production by 19 percent this year is expected to have negative spillover effects across the aerospace industry, from parts suppliers to engine makers and even airlines. The planemaker said it would cut output to 42 airplanes a month by mid-April, as the company fights global criticism about the safety of its ...

Bloomberg Debenhams Plc, the 241-year-old UK department-store chain that anchors many of the country’s troubled shopping streets, was taken over by lenders after rebuffing a last-minute offer from billionaire Mike Ashley. The retailer entered a form of UK insolvency proceedings that allowed US hedge funds and other lenders to take control. Stores employing about 26,000 people will continue to operate ...

Bloomberg Consumer spending declined in March as concerns over Brexit and the late timing of the Easter holiday held back shoppers. Total retail sales decreased by 0.5 percent, compared to a 2.3 percent gain a year earlier when the holiday was in March, the British Retail Consortium and KPMG said. That’s below the three- and 12-month averages. On a like-for-like ...

Bloomberg Burger King is the latest brand to spark criticism on social media with an ad depicting diners struggling to eat western food with chopsticks. The fast-food chain showed a video clip of diners trying to eat its new “Vietnamese Sweet Chilli Tendercrisp Burger” with large red chopsticks. Social media users say the ad, which was posted on Instagram, is ...

DUBAI / WAM Mohammed Ibrahim Al Shaibani, Director-General of His Highness the Ruler’s Court in Dubai, officially opened the new ‘Martyrs Mosque’ located at Muhaisnah area in Dubai. The mosque was built following a generous donation from HH Sheikha Hind bint Maktoum bin Juma Al Maktoum, Wife of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister ...

Abu Dhabi / AGENCIES Mubadala Investment Company and Carlyle Group on Monday announced that funds affiliated with Carlyle will acquire a significant minority interest in Compania Espanola de Petroleos, Cepsa, from Mubadala. Carlyle Group LP plans to buy a stake valued at as much as $4.8 billion in Cepsa from Mubadala Investment Co. The US company will acquire 30 percent ...

DUBAI / Emirates Business Dubai’s non-oil private sector economy expanded at a faster rate in March, while the total business activity (output) increased at the fastest rate since January 2015. Two of the three key monitored sectors — travel & tourism and wholesale & retail — posted series record increases in activity. With new business growth also accelerating, expectations for ...

Bloomberg Oil spiked to its highest level in five months as a drop in the US dollar and conflicts from Iran to Libya helped make the barrel look like an increasingly strong bet for investors. Crude futures rallied as much as 2.1 percent in New York on Monday. The dollar fell, improving the lure of commodities priced in the greenback. ...