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PARIS / BLOOMBERG BNP Paribas SA, France’s largest bank, had its long-term credit rating cut to A from A+ by Standard & Poor’s (S&P), which cited a “less favourable” view of the lender’s capital cushion. The bank hasn’t laid out plans to issue enough securities to increase its total loss-absorbing capacity, or TLAC, to meet S&P’s preferred level by 2018, ...

Bloomberg American companies will become even bigger buyers of bonds sold by their peers as negative interest rates worldwide intensify pressure on them to deploy their $4 trillion cash pile, according to Citigroup Inc. “In their search for yield, companies are likely to increase their allocation toward 1-5 year corporate bonds rated A or higher,” said Ajay Khorana, global head ...

WARSAW / Bloomberg Polish Central Bank (PCB) Governor Marek Belka said rate setters are debating how to transition from their pause in monetary easing as they weigh the risk of deterioration in the global economy and potential capital inflows as a result of the euro area’s quantitative easing program. The 10-member council left the seven-day reference rate at a record-low ...

Ottawa / Bloomberg Canadian stocks rose, joining a rally in global markets as growing optimism on European stimulus overshadowed a surprise increase in Canada’s jobless rate. The Standard & Poor’s/TSX Composite Index rose 1.1 percent to 13,522 in Toronto, to the highest since December 1 while capping a second weekly increase. The resurgent S&P/TSX is one of the best-performing developed ...

Bloomberg Blackstone Group LP agreed to sell Strategic Hotels & Resorts Inc. to China’s Anbang Insurance Group Co. for about $6.5 billion, just three months after it purchased the U.S. luxury-resort company, according to people with knowledge of the matter. The price is about $450 million more than Blackstone paid for Strategic in December. The New York-based private equity firm ...

Bloomberg Wellington real estate agent Gareth Robins says he’s taken more calls from Auckland investors in the past six months than he has in the past six years. With the housing boom in Auckland, New Zealand’s largest city, showing signs of coming to an end, investors there are looking further afield, and they have more buying power than owners in ...

BEIJING / Bloomberg Boeing Co. delivered a record number of airplanes to China last year, outpacing rival Airbus Group SE, and is predicting more wide-body orders this year as mainland carriers attempt to harness booming demand for international travel. Of the 200 jetliners Boeing delivered to airlines and lessors based in China last year, 28 were wide-bodies, Darren Hulst, the ...

Bloomberg Air France-KLM Group’s Transavia discount arm plans to open a second base beyond its home markets of France and the Netherlands in summer 2017 after the first in Munich starts flights this month. Transavia has shortlisted a number of possible hubs, with more German locations under consideration, and will make its choice based on the availability of operating slots, ...

Bloomberg Juneyao Airlines Co. plans to add nine or 10 aircraft this year, as it considers opening routes to Thailand and Russia, company Chairman Wang Junjin said in an interview Sunday on the sidelines of the National People’s Congress in Beijing. Wang also said the company’s January-February revenue increased by 40 percent year-on-year, as it looks forward to further benefits ...

MEXICO / AP US-based Gulf Oil LP said it is entering Mexico’s gasoline retail market, becoming the first foreign company to do so under an energy overhaul that loosened more than seven decades of government monopoly in the sector. The company will open its first four gas stations in Mexico in June and July and aims to operate at least ...