Bloomberg The worst thing you can call a cryptocurrency project isn’t a “scam” — although many have been called that. It’s a “security.” By casting digital assets in with stocks and bonds, the more stringent rules governing those traditional asset classes will be applied to cryptos. For proof of what that can mean for the nascent market, look no further ...

Bloomberg Canada’s biggest banks suffered the worst decline in bond trading revenue since 2011 as volatility pushed investors to the sidelines. Revenue from trading fixed income, currencies and commodities fell 8.1 percent to C$6.32 billion ($4.72 billion) at the six large Canadian lenders in the latest fiscal year, a further erosion from the 6.1 percent decline in 2017, according to ...

Bloomberg Peru’s central bank held borrowing costs unchanged as tame inflation allows it to keep stimulating the economy after growth slowed in the third quarter. The central bank board, led by President Julio Velarde, kept benchmark lending rate at 2.75 percent for the ninth consecutive month. That matched the forecast of all 11 economists surveyed by Bloomberg. “The board considers ...

Bloomberg European Central Bank (ECB) President Mario Draghi defended the results of two decades of European political and monetary integration against the return of “illiberal” policies and regimes. Speaking in his native Italy, where a euro-skeptic populist government is openly flaunting European Union rules, Draghi listed the euro’s successes, while admitting that not all have benefited equally from it. He ...

Bloomberg The Nordic listings market has cooled off in recent months, with several companies cancelling their initial public offerings amid plunging stock prices. But the biggest Nordic bank isn’t ready to call an end to an environment that has produced a record number of listings in recent years. “It’s far too early to say that the positive fundamentals for the ...

Bloomberg The Bank of England (BOE) is set to keep interest rates unchanged next week as the government flounders over its exit from the European Union. All but one of 60 economists in a Bloomberg survey predict the Monetary Policy Committee will maintain the benchmark at 0.75 percent when the decision of its nine members is announced. A unanimous vote ...

Bloomberg HNA Group Co. held preliminary talks to sell its core airline assets to one of China’s top state-run carriers, people familiar with the matter said, a sign little has been off the table as the sprawling conglomerate seeks to pay down its hefty debt load. The talks, which haven’t been previously reported, started late last year, the people said, ...

Bloomberg One year after Ryanair Holdings Plc Chief Executive Officer Michael O’Leary shocked the airline industry with his decision to finally recognise trade unions, the two sides can’t agree on how much progress has been made in their talks. The Irish budget carrier’s CEO has opened talks with employees in all major markets. That’s led to collective labour agreements with ...

Bloomberg Grupo Aeromexico SAB is investigating whether a drone slammed into a Boeing Co. 737 jetliner as the aircraft approached its destination in Tijuana, Mexico, on the US border. Images on local media showed considerable damage to the nose of the 737-800, which was operating as Flight 773 from Guadalajara. In a cabin recording, crew members can be heard saying ...

Bloomberg LVMH is betting $2.6 billion that consumers who spend $1,000 on a Louis Vuitton bag will splash out for a $2,000-a-night hotel on Italy’s Amalfi Coast. The French luxury giant agreed to buy Belmond Ltd., owner of New York’s ‘21’ Club and high-end resorts around the world. The transaction is LVMH’s largest since taking full control of Christian Dior ...