Bloomberg President Donald Trump may get the Federal Reserve interest rate-hike pause he wants as his attacks on the Fed and the government shutdown roil stock markets and shave 2019 forecasts for economic growth. The S&P 500 fell 2.7 percent, bringing US stocks to the brink of a bear market after a drop of almost 20 percent from a September ...

Bloomberg More than a year after Russia nationalised three leading private lenders, the magnitude of the losses is starting to take shape and criminal investigations are being opened against former owners and management. The bad bank that took on some 2 trillion rubles ($30 billion) in non-performing assets from Bank Otkritie FC, B&N Bank and Promsvyazbank still isn’t ready to ...

Bloomberg Wells Fargo & Co will pay $575 million to settle state-level claims over sales practices, marking the latest cost in the fallout from a series of scandals that erupted at the bank more than two years ago. The settlement with 50 states and the District of Columbia announced resolves state investigations into Wells Fargo’s practices from 2002 to 2017. ...

Bloomberg JPMorgan Chase & Co will pay $135 million to settle Securities and Exchange Commission allegations that it mishandled US securities that represent sha-res of foreign companies, the latest bank fined in an industry crackdown on the practice. The bank improperly provided what’s known as American depository receipts (ADR) to brokers when neither the brokers nor their clients held shares ...

Bloomberg Boutique banks climbed the ranks of the world’s leading merger advisers, while Deutsche Bank AG dropped out of the top 10. But for all of the shuffling, familiar names remained at the head of the pack. Goldman Sachs Group Inc, for the second year in a row, is poised to be the top bank for takeover advice — pushed ...

Bloomberg Vinci SA agreed to acquire control of Gatwick Airport for 2.9 billion pounds ($3.7 billion) as the French construction company jumped on the chance to add a major London hub to its aviation portfolio. The purchase of the 50.01 percent stake in the world’s second-busiest single runway airport from a group of investors will be financed with pound-denominated debt, ...

Bloomberg Flights from New York’s LaGuardia airport were operating normally on December 28 after some were delayed or diverted overnight because of an explosion at an electrical substation that temporarily cut off power. “We have normal flight activity,” the airport said in a tweet shortly after 9 am in New York. Travellers should still check with their carrier on the ...

Bloomberg With just a few days left before 2018 is over, Airbus SE says it’s working flat out to reach a goal of delivering 800 jetliners during the year. The Boeing Co. rival is maximising efforts to meet its target, which requires it to hand over at least 127 aircraft to customers in December. Marketing chief Christian Scherer and his ...

Bloomberg Gap Inc. plans to shutter one of its major New York stores next month. The clothing retailer, which said in November that it may close hundreds of underperforming Gap stores, will shutter a three-story location at 680 5th Avenue on January 20, the company confirmed in an email. Chief Executive Officer Art Peck also said last month that the ...

Bloomberg The UK is planning to double the charge on disposable plastic bags issued by the country’s largest retailers to 10 pence as part of a drive to protect the environment. The fee will also be extended to all small shops, according to the plans published by the Department for Environment, Food and Rural Affairs. The proposals are subject to ...