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  Bloomberg Hong Kong expects air passenger traffic to recover to as much as 70% of pre-pandemic levels by the end of next year and return to normality by 2024, South China Morning Post (SCMP) reported, citing an official. Deputy Director of Airport Operations Steven Yiu Siu-chung brushed aside concern about the airport’s status as an aviation hub, the newspaper …

Bloomberg Amazon.com Inc is poised to settle European antitrust probes over how the US ecommerce giant uses rivals’ sales data and whether it unfairly favours its own products. The European Commission is likely to accept Amazon’s binding proposals by the end of the year — that includes a commitment to stop using data on independent sellers on its marketplace for …

Bloomberg US retailers discounted heavily on Black Friday to clear out bloated inventories but customers responded with only modest traffic, leaving profitability in doubt for many chains. Crowds were thin at Connecticut’s Stamford Town Center mall, with few shoppers at Kay Jewelers and just a small line at Forever 21. A couple at a Walmart Inc supercenter near Dallas reveled …

  Bloomberg Passengers flying through London City Airport will be able to leave laptops and liquids in their bags when passing through security from next year. The hub, which is currently trialling one security lane equipped with next-generation baggage scanners, plans to introduce the machines on all its lanes by April as part of a partnership with Leidos Holdings Inc, …

  Bloomberg Inditex SA, the Spanish owner of the Zara clothing chain, is facing two days of strikes in its home market after unions and management failed to reach an agreement on pay. Stoppages shut as many as 11 shops in the northwestern province of A Coruña, in Galicia, as workers walked off their jobs to demand a €440 ($458) …

    Bloomberg The European Central Bank (ECB) is imposing higher capital requirements on lenders including BNP Paribas SA and Deutsche Bank AG, arguing that they have ignored warnings to cut risk in the lucrative business of leveraged finance, according to people familiar with the matter. The French and German investment banks are among a handful of institutions who are …

Bloomberg India’s banking regulator asked a unit of Paytm to resubmit its application for approval required to provide payment aggregator services, a potentially lucrative business the company is trying to expand into. The Reserve Bank of India (RBI) asked Paytm Payments Service Ltd. to resubmit its application after seeking necessary approvals from its parent to comply with foreign direct investment …

  Bloomberg Goldman Sachs Group Inc. plans to set up shop in Munich to strengthen its coverage of Germany’s biggest, and newest, companies. The US investment bank is close to signing a lease for an office on upmarket Maximilianstrasse from the end of 2023, people familiar with the matter said, asking not to be identified discussing confidential information. It will …

  Bloomberg Pakistan unexpectedly raised its benchmark interest rate by a full percentage point to prevent stronger-than-anticipated inflation from spiraling out of control. State Bank of Pakistan increased the target rate to 16%, a move expected by just one of 44 economists in a Bloomberg survey while the rest had predicted no change. The authority also raised its annual inflation …

  Bloomberg China’s central bank cut the amount of cash lenders must hold in reserve for the second time this year, ramping up support for an economy racked by surging Covid cases and a continued property downturn. The People’s Bank of China (PBOC) reduced the reserve requirement ratio for most banks by 25 basis points, it said in a statement. …