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  Bloomberg A Chinese rival to Boeing Co’s 737 Max and Airbus SE’s A320neo narrowbody aircraft completed its first pre-delivery test flight, according to a CCTV report. The C919 jet developed by Commercial Aircraft Corp of China Ltd was test flown for about three hours ahead of its delivery to its first customer soon, the report said. The narrowbody plane ...

  Bloomberg Canadians travelling through Toronto Pearson International Airport are facing lengthy wait times and the situation is likely to worsen in coming weeks. The airport is being hit with a double whammy of staffing shortages and longer processing times due to public health screening measures, according to Greater Toronto Airports Authority spokesperson Tori Gass. The Covid-19 measures can double ...

  Bloomberg New Zealand’s busiest airport will start a new phase of expansion when construction of a transport hub begins next month. Auckland International Airport will invest NZ$300 million ($189 million) in the project, which will allow undercover pick-up and drop-off for cars and buses adjacent to the existing international terminal, CEO Carrie Hurihanganui said. Adjoining land has been set ...

  Bloomberg Cathay Pacific Airways Ltd expects cash burn to drop to less than $64 million a month within “the next few months” as Hong Kong gradually rolls back some of the world’s strictest, and longest Covid-19 curbs. “The recent adjustments to the government’s travel restrictions and quarantine requirements will help facilitate the gradual resumption of travel activities and the ...

  Bloomberg Just a few years after banks helped create a gargantuan market for blank check companies, they’re pulling away from the deals, afraid of the risks. Goldman Sachs Group Inc is ending its involvement with most of the special purpose acquisition companies it took public and pausing new US SPAC issuance, Bloomberg reported. Bank of America Corp (BofA) scaled back ...

  Bloomberg Credit Suisse Group AG’s board has held early stage talks on potentially replacing Chief Executive Officer Thomas Gottstein after a string of scandals and misfires, people with knowledge of the matter said. A change at the top of the bank could come as early as this year. While the board continues to publicly voice support for Gottstein, some ...

  Bloomberg A regional central bank is clamping down on Bitcoin transactions after the Central African Republic adopted the cryptocurrency as legal tender without consulting its monetary authority. The Bank of Central African States, which already doesn’t recognize cryptocurrencies, is now preventing all lenders from partnering with payment platforms that transact in digital currencies or from recognising them as an ...

  Bloomberg Mexico’s central bank is ready to tighten monetary policy at a faster pace if needed, according to Governor Victoria Rodriguez Ceja. The bank increased key rate by half a percentage point for the fourth consecutive meeting and said it was willing to take more “forceful measures” to tame prices. The decision wasn’t unanimous, with one board member voting ...

  Bloomberg State Bank of India (SBI), the nation’s largest lender, posted fourth-quarter profit that missed analyst estimate as bad loan provisions rise and income from businesses other than lending dropped. Net income stood at 91.1 billion rupees ($1.2 billion) in the three months to March, the highest ever quarterly profit, compared with 64.5 billion rupees a year earlier. That ...

  Bloomberg Westpac Banking Corp.’s first-half profit topped analyst estimates as costs continued to decline, offsetting ongoing competition in mortgages and business lending. The stock opened higher. Cash profit at Australia’s third-largest lender falls to A$3.1 billion in the six months to March 31, compared with the same period a year earlier, according to a statement. That beat the A$2.9 ...