Bloomberg A Boeing Co flying car designed to whisk passengers over congested city streets and dodge skyscrapers completed its first test flight, offering a peek into the future of urban transportation the aerospace giant and others are seeking to shape. A prototype of its autonomous passenger air vehicle completed a controlled takeoff, hover and landing during the test conducted in ...

Bloomberg Apple Inc has hired an executive from Samsung SDI Co, the battery making affiliate of Samsung Electronics Co, to help lead its own battery work. Soonho Ahn joined Apple in December as global head of battery developments, after working as a senior vice president at Samsung SDI since 2015, according to his LinkedIn profile. At Samsung SDI, Ahn led ...

Bloomberg The European Central Bank (ECB) pledged to keep interest rates at record lows at least through the summer after policy makers met amid rising concern about the region’s growth outlook. The decision came just hours after a report signalled the euro area’s economic slowdown is set to drag on, with the region beset by political strife and global risks ...

Bloomberg If you’re a bond trader at a major bank, the next time you ask for an increase in your position limit, the answer is likely to be based on regulatory stress tests. Seventy-eight percent of global banks now use the tests to assess concentrations and set limits internally, according to a Deloitte survey. That’s up from 67 percent in ...

Bloomberg The biggest issuers of US corporate bonds are easing up on selling new securities, which could translate to gains for investors holding the debt. Banks and other financial companies have sold around $50 billion of bonds so far this year, down more than 40 percent from the same period a year ago. For the largest US banks the decline ...

Bloomberg A free float of Nigeria’s naira would cause capital flight and a “massive devaluation,” according to central bank Governor Godwin Emefiele. The nation’s current system of multiple exchange rates had produced the “most optimal results when compared with other emerging markets in recent times,” Emefiele told reporters after a meeting of the monetary policy committee (MPC). Emefiele was responding ...

Bloomberg Indian equities — that fluctuated between gains and losses — capped their first advance in three days, boosted by a rally in shares of a private lender after it announced a new chief. The benchmark S&P BSE Sensex climbed 0.2 percent to 36,195.10 at the 3:30 pm close in Mumbai, after swinging at least twelve times between a high ...

Bloomberg There certainly have been worse days at LaGuardia, O’Hare and Miami airports. But on January 25 some of these busy routes came to a brief but abrupt halt — and that may have been among the final pushes that led President Donald Trump, already under pressure, to reopen the government. The White House for weeks had tried to minimise ...

Bloomberg Kering SA, the French owner of the Gucci luxury brand, owes about 1.4 billion euros ($1.6 billion) to Italy in back taxes, according to the conclusions of a government audit. The probe scrutinised business activities by Kering’s Swiss subsidiary, Luxury Goods International, from 2011 through 2017, according to a company statement. Kering said it contests the findings of the ...

Bloomberg Billionaire Lucio Tan, who controls Philippine Airlines Inc., denied reports about a forthcoming stake sale days after ANA Holdings Inc. confirmed it’s in talks with the carrier’s listed parent PAL Holdings Inc. There’s “no plan” to sell, Tan, 84, said in an interview on the sidelines of a central bank event in Manila. News that a stake sale is ...