China looks set to get a new central bank governor this month. Incumbent Zhou Xiaochuan has seen it all during his 15 years in office: China’s surge to become the second-largest economy, the global financial crisis, ending the yuan’s fixed peg to the dollar and winning the currency inclusion in the IMF’s reserve basket. For all those changes, the People’s ...

Bloomberg Mario Draghi said the European Central Bank will avoid surprising investors with sudden changes to its stimulus plans, stressing that inflation is still too low and US trade policies and a stronger euro are concerns. “Adjustments to our policy will remain predictable, and they will proceed at a measured pace,” the institution’s president said in his opening speech at ...

Bloomberg Traders can add one more reason to sell the Indian rupee. Stung by a $2 billion bank fraud, the Reserve Bank of India banned a key import finance tool, a move that may push up short-term dollar demand. The central bank barred lenders from issuing guarantees in the form of letters of undertaking to overseas banks as it clamped ...

Bloomberg The world’s financial leaders will call on international standard-setting bodies on March 20 for stronger monitoring of crypto-assets and to assess the need for a multilateral response as such assets could at some point threaten financial stability. The call appears in a draft communique prepared for the meeting of finance ministers and central bank governors of the world’s 20 ...

Bloomberg Industrial & Commercial Bank of China (ICBC) Ltd., the world’s biggest lender, has been ordered by the Federal Reserve to bolster its protections against money laundering. The Fed found “significant deficiencies” in safeguards at the Chinese bank’s New York branch, the US regulator said in an enforcement order. The company agreed to submit plans to fix its compliance programs within ...

Bloomberg With so many central banks failing to hit their inflation targets, some are considering changes to the tool kits they use to steer their economies. Norway’s decision to lower its price target is just the latest example, and follows more or less official adjustments in Sweden, Argentina and the euro area. Even in New Zealand, the birthplace of inflation ...

Bloomberg Cathay Pacific Airways Ltd. is finally seeing some respite from its earnings woes. Asia’s biggest international carrier reported a surprise profit in the second half of 2017, with a pick-up in cargo and premium-travel demand helping narrow the full-year net loss to HK$1.26 billion ($161 million). That’s well below analysts’ expectations for a loss of HK$2.26 billion, based on ...

Bloomberg United Continental Holdings Inc. is considering whether to add an upgraded economy section to US flights—a feature typically reserved for overseas markets. The Chicago-based carrier for months has been readying a new “Premium Plus” section with bigger seats and improved dining options. While the company previously said it would add the class to international routes, it’s now considering it ...

Bloomberg The owner of the Zara clothing chain is facing skepticism among investors that it can keep up with the likes of Amazon.com Inc. in online retail. While Inditex SA’s e-commerce revenue surged 41 percent last fiscal year and its websites are attracting more than 10 million visits a day, total sales grew at the weakest pace in three years ...

Bloomberg Three deadly air crashes that have killed 170 passengers in the past 4 1/2 weeks may indicate that 2017, the safest-ever year for aviation, represented a statistical blip. A total of five fare-paying customers lost their lives in just two crashes on planes of 14 seats or more in the whole of 2017, and there were no passenger fatalities ...