Bloomberg The Bank of England told banks to be ready for war against the mounting threat of crippling cyber attacks. “I would like our firms to be on a WAR footing: withstand; absorb; recover,” Lyndon Nelson, deputy chief executive of the BOE’s Prudential Regulation Authority, said in a speech. The PRA expects firms to set out their own tolerances for ...

Bloomberg Asian central bankers grappling with wobbly markets, higher energy costs and simmering trade tensions are getting relief from an old foe: food prices. In a region vulnerable to volatile price swings, food inflation has been largely contained, thanks in part to favourable weather and increased investment in production, storage and distribution. For developing nations like India and China — ...

Bloomberg Rolls-Royce Holdings Plc is wrestling with a shortage of parts needed to repair hundreds of faulty engines that power Boeing Co.’s 787 wide-body jets, further stretching a tight timetable for repairs. The fix for excessive wear on the Trent 1000 turbines is taking about three days longer than planned in some cases due to a shortfall in stocks of ...

Bloomberg CVC Capital Partners acquired Malaysian snack producer Munchy Food Industries Sdn., as the private equity firm deepens its exposure to the fast-growing consumer industry in Southeast Asia. The London-based investment firm’s Asia Fund IV completed the purchase of a 100 percent stake in Munchy Food on June 8, it said in an emailed statement, confirming an earlier Bloomberg News ...

Bloomberg A freak bout of electrical storms over Germany is to blame for the worst monthly punctuality record at Deutsche Lufthansa AG in at least two years, according to the company. The country suffered more lightning strikes in the first five months than in the whole of 2017, with planes hit by an average of three bolts a week, according ...

Bloomberg London’s Gatwick airport plans to spend 1.11 billion pounds ($1.5 billion) on expanding the capacity of its two terminals by 7 million passengers within five years. The world’s busiest single-runway hub will devote much of the cash to lengthening one of the piers at its North Terminal, used by airlines including EasyJet Plc and Virgin Atlantic Airways Ltd., to ...

Bloomberg Amazon.com Inc. has long used robots to help humans move merchandise around its warehouses. Now automation is transforming Amazon’s white-collar workforce, too. The people who command six-figure salaries to negotiate multimillion-dollar deals with major brands are being replaced by software that predicts what shoppers want and how much to charge for it. Machines are beating people at the critical ...

Dubai / WAM Investment Corporation of Dubai (ICD) has announced its consolidated financial results for year ended December 31, 2017, delivering record revenues of AED 200.9 billion and an improved net profit of AED24.6 billion. Revenues increased to AED200.9 billion, an increase of 13.8 percent from the prior year period, supported by higher revenues in the oil and gas and ...

HODEIDAH / WAM Arab Coalition Forces have destroyed a ballistic missile base belonging to Iranian-backed Houthi militias on the outskirts of the Al-Garahi district. Coalition forcers led by Saudi Arabia, and supported by UAE Armed Forces, targeted several positions and military machinery belonging to the Houthi militias, resulting in killing 47 militia elements and dozens of casualties. Yemeni resistance forces ...

ABU DHABI / Emirates Business A statement of cooperation has been signed by the CEO of Astana Financial Services Authority (AFSA) Stephen Glynn and Chief Executive of the Registration Authority of Abu Dhabi Global Market (ADGM) Dhaher Bin Dhaher Al Mheiri. The objective of the statement of cooperation is to work towards the attainment of the mutual understanding of legislative, ...