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  Bloomberg Russia’s commercial aircraft fleet could falter within months and risks being largely grounded in a few years as sanctions block essential spare parts from Boeing Co and Airbus SE, according to Jefferies Group LLC. “They’ll be able to fly for the next six months to a year fairly well, then parts start breaking and you’ll need replacements,” Jefferies ...

  Bloomberg More than 100 international flights will be diverted away from Shanghai to other cities to ease pressure on quarantine hotels and isolation facilities in the financial hub as China battles growing pockets of Covid-19. A total of 106 flights on 22 routes will be diverted between March 21 and May 1, state broadcaster CCTV reported, citing a statement ...

  Bloomberg London’s Heathrow Airport, British Airways (BA) and Virgin Atlantic Airways Ltd are dropping mask requirements as the country scraps remaining Covid-19 travel curbs despite a new flareup in cases. Masks will no longer be needed in Heathrow terminals, rail stations or office buildings from Wednesday, the airport said in a statement. IAG SA-owned British Airways and Virgin will ...

  Bloomberg Hennes & Mauritz (H&M) AB said sales growth accelerated as the Swedish retailer reduced the level of markdowns on its garments. Revenue rose 23% excluding currency shifts in the three months through February. Sales amounted to 49.2 billion kronor ($5.1 billion). Analysts expected 49.1 billion. Like other retailers, H&M decided to temporarily pause sales in Russia, its sixth-biggest ...

Bloomberg Bank of America Corp (BofA) aims to double its underwriting of green bond deals in China over the next two to three years, beefing up its business to capture the fast-growing market, the firm’s China head said in an interview. The Charlotte, North Carolina-based bank plans to underwrite $50 billion of green and sustainability-linked bonds, equities and loans for ...

  Bloomberg Citigroup Inc., the US bank with the largest presence in Russia, will broaden its withdrawal beyond previously announced plans to dispose of consumer operations there. “We have now decided to expand the scope of that exit process to include other lines of business and continue to reduce our remaining operations and exposure,” Edward Skyler, executive vice president of ...

  Bloomberg Nigerian lenders cut the dollar spending limits on local currency cards to free more resources to fund imports after the central bank signalled it will stop foreign-exchange sales to banks. United Bank for Africa Plc (UBA) stopped the use of naira card to withdraw dollars from automated teller machines outside the country or make international payments at point ...

  Bloomberg The Swedish central bank will probably have to raise interest rates earlier than its previous timeline of 2024, Riksbank Governor Stefan Ingves said, signalling a shift on removing stimulus after lagging behind most of its developed peers. “Right now inflation is far too high,” Ingves said in an interview with Swedish Radio, adding the central bank has to ...

  Bloomberg Japan’s top lenders, including the banking unit of Mitsubishi UFJ Financial Group Inc., are pulling their Japanese staff out of Russia due to safety concerns following its invasion of Ukraine. The banking units of Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. are also moving Japanese staff out of the country, according to representatives for the ...

Bloomberg Australia’s central bank said Russia’s invasion of Ukraine has the potential to prolong a period of elevated consumer-price growth and is clouding the economic outlook, minutes of its March 1 policy meeting showed. “The war in Ukraine and the associated increase in energy prices had created additional uncertainty,” the Reserve Bank said in the release on Tuesday. A key ...