Bloomberg The pound rallied after an adviser to the European Union’s top court suggested that the UK should be allowed to reverse its notice to leave the bloc. Sterling snapped three days of losses following the non-binding opinion from Advocate General Manuel Campos Sanchez-Bordona of the EU Court of Justice, who said “the possibility continues to exist” to revoke the ...

Bloomberg The real winner from the trade thaw between the US and China is proving to be the yuan. The currency rose 0.66 percent to 6.8403 per dollar, taking its two-day gain to 1.7 percent, the biggest since at least 2007. Bonds rallied, with the yield on 10-year government debt falling to its lowest level since April 2017, amid speculation ...

Bloomberg Federal Reserve Chairman Jerome Powell said that while the central bank has made progresstowards a “strong economy” with rising wages, many lower-income workers have been left behind. “The Federal Reserve’s mission is to promote a strong economy and sound financial system,” Powell said in remarks prepared for delivery in Washington. “I am glad to say we have made a ...

Bloomberg Pakistan’s government plans to make the central bank report any planned currency adjustments to a committee, a move seen to curb the regulator’s independence as the nation negotiates an International Monetary Fund bailout. The State Bank of Pakistan has weakened the rupee for the fifth time this year and raised the key interest rate — roiling the stock market. ...

Bloomberg Danske Bank A/S has built a capital buffer of as much as $2.7 billion to absorb potential fines as it deals with the fallout of its role in one of Europe’s worst ever money laundering scandals. Acting Chief Executive Officer Jesper Nielsen says the amount “significantly” exceeds what Denmark’s regulator has ordered Danske to hold in connection with the ...

Bloomberg Mark Carney defended the publication of the Bank of England’s Brexit scenarios, telling Parliament that the institution couldn’t hold back its analysis once lawmakers had asked for it. The BOE had released a report on PM Theresa May’s deal and other Brexit outcomes. Its worst-case scenario for a chaotic exit sees the economy shrinking by 8 percent within a ...

Bloomberg Barclays Plc’s plan to quickly move European business to Dublin in preparation for Brexit is one of the most ambitious yet and gaining plaudits from regulators, according to people familiar with the talks. The UK lender plans to book almost half its EU-related trading risk within the bloc by the time the UK leaves, according to people familiar with ...

Bloomberg Mexican President Andres Manuel Lopez Obrador shouldn’t expect a windfall from his decision to sell the Boeing Co. 787 Dreamliner that has transported his predecessor since 2016. The so-called VVIP — very, very important person — aircraft is likely to generate a multimillion-dollar loss on the untested secondary market for customised 787s, according to an analysis by Flight Ascend ...

Bloomberg Airbus SE blamed the European Union for the UK’s decision to quit the Galileo satellite-defense programme, after the country was denied a central role in the 10 billion-euro ($11 billion) project after Brexit. The move will deal a “serious blow to the EU’s common security and defense ambition,” Chief Executive Officer Tom Enders said in an Airbus Twitter post. ...

Bloomberg The turbulence in airline stocks is yet to ease as news of fresh production cuts and calming trade concerns sent oil prices surging. US airline shares have traded closely with fluctuations in oil prices over the past few months, especially after several carriers were forced to trim their profit outlook citing soaring jet fuel costs that pressured margins. When ...