Reuters Gulf stock markets mostly moved sideways on Wednesday, drawing little strength from rising oil prices, while Egypt pulled back after closing at record highs for three straight days. Brent oil futures rose to $61.70 per barrel, their highest since July 2015, while global equity markets continued climbing. The failure of Gulf bourses to rise on the back of these ...

Bloomberg BNP Paribas SA is finding it harder to evade the trading slump that’s engulfing rivals. After emerging almost unscathed from the period of low volatility that weighed down Wall Street firms and European investment banks earlier this year, the Paris-based lender posted a bigger-than-expected 17 percent drop in trading revenue in the third quarter, or 15 percent on a ...

Bloomberg Turkey’s central bank Governor Murat Cetinkaya said on Wednesday that he expects inflation to accelerate in October and November, driven by a weaker currency and rising oil prices, before the rate starts to ease a month later. The lira declined on the comments. The central bank revised its year-end inflation forecast to 9.8 percent from 8.7 percent three months ...

Bloomberg Some of Europe’s biggest fund managers are set for a face-off on how best to trade the UK’s first potential interest-rate increase in a decade. Allianz Global Investors GmBH is looking to sell the pound into a rally, betting the Bank of England won’t signal further policy tightening given lingering economic and political risks. Fidelity International has a similar ...

Bloomberg Reforming the Reserve Bank of New Zealand’s monetary policy mandate could potentially result in lower interest rates, the new finance minister said. Requiring the central bank to target full employment as well as price stability when making rate decisions will ensure its objectives are more aligned with the well-being of New Zealanders, Grant Robertson said in a television interview ...

Bloomberg For thousands of brokers, traders and money managers based in the US, time is running out. A shock wave is about to emanate from Brussels, the capital of the 28-nation European Union. That may as well be the dark side of the moon for some toiling away at financial firms in the US A sweeping set of financial regulations ...

Bloomberg United Continental Holdings Inc. wants to acquire as many as 40 used Airbus SE jets, seeking a thrifty way to bolster short-distance service as the airline struggles to get costs under control. The carrier is looking at A319 and A320 single-aisle aircraft, the Chicago chapter of the United pilots union said in a memo to its members. A deal ...

Bloomberg Airbus SE alerted US authorities to potential regulatory breaches, opening a new flank in the group’s efforts to resolve a series of probes into the use of payments and middlemen to win new business. Toulouse, France-based Airbus took the step after an internal review revealed “inaccuracies” in applications for defense-export licenses, it said. The development adds to existing investigations ...

Bloomberg Airbus SE and enginemaker Pratt & Whitney’s compensation to IndiGo for glitches that grounded jets helped India’s biggest airline post quarterly profit that exceeded analyst’s estimates. The problems plaguing the carrier’s operation since July were fixed earlier this month after Pratt & Whitney managed to replace the engines that power the Airbus’s A320neo jets. The world’s biggest buyer of ...

Bloomberg The looming threat of Amazon.com Inc. siphoned billions in market cap from Under Armour Inc. to FedEx Corp. to Walgreens Boots Alliance Inc.— more than $30 billion combined—in October. Companies are gearing up to face Bezos’s behemoth heading into the holiday season, with some appearing ready to get creative as the state of their industries is shaken. CVS Health ...