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Bloomberg The UK said it will close its travel corridors with countries around the world, meaning all visitors from overseas will require a negative coronavirus test within 72 hours of travel to enter Britain. Visitors may be checked when they arrive in the UK and could face substantial fines if they don’t comply, Prime Minister Boris Johnson said at a …

Bloomberg Indonesian divers retrieved the battered casing of the cockpit voice recorder from the Sriwijaya Air jet that plunged into the Java Sea on January 9, but not the crucial memory unit containing its data. The computer chips that store a recording of pilot communications and ambient sounds in the cockpit broke loose from the so-called black box’s exterior, the …

Bloomberg Digital brands looked headed for a reckoning a year ago, with bloated valuations, rising advertising costs and ever more competition. Then the Covid-19 pandemic hit the US and gave a giant gift to brands that mainly sell directly through the web. With their brick-and-mortar competition shuttered and the virus raging, Americans flocked online and loaded up on home goods, …

Bloomberg Urban Outfitters Inc plummeted after reporting a tough holiday quarter and a planned exit for the CEO of its namesake brand. The retailer said in a statement that Trish Donnelly, chief executive officer for the Urban Outfitters chain, will depart at the end of the month for a new opportunity. Sheila Harrington, who already runs the Free People brand, …

Bloomberg Some of the world’s biggest banks are urging a US judge not to immediately terminate Libor after a group of borrowers filed suit claiming the benchmark was the work of a “price-fixing cartel.” Defendants in the case, including JPMorgan Chase & Co., Credit Suisse Group AG and Deutsche Bank AG, said in a November filing that an injunction abruptly …

Bloomberg Morgan Stanley strategists have dropped their expectations of near-term weakening in the dollar amid a regime shift in US rates propelled partly by prospects for meaningful fiscal expansion. “It’s no longer attractive to be positioned for a weaker dollar from here given the uncertainties around the fiscal policy outlook, the monetary policy outlook, and the growth and inflation outlook,” …

Bloomberg The Reserve Bank of India (RBI) is open to examining any proposal to set up a bad bank, Governor Shaktikanta Das said, days after the authority forecast a surge in soured assets. “If any proposal comes we are open to examining it and issuing the regulatory guidelines but it’s for the government and the private sector players to really …

Bloomberg As HSBC Holdings pins its future on China, Europe’s largest bank is grooming a set of well-connected bankers to navigate its fraught relationship with Beijing in the long run. David Liao and Mark Yunfeng Wang, heads of Asia Pacific global banking and its China operations, respectively, are among a handful of contenders in the running to steer HSBC’s expansion …

Bloomberg Brazil’s central bank said inflation pressures could persist in the beginning of the year, eventually leading to an interest rate hike, after a report showed consumer prices surged in December by the most since 2003. While reaffirming that a record-low rate of 2% is adequate for now, Monetary Policy Director Bruno Serra said Brazil shouldn’t have such a level …

Bloomberg There are growing signs that Beijing is keen to slow the ascent in China’s currency after it surged to the highest level since mid-2018 against the dollar. The People’s Bank of China set its fixing at 6.4604 per dollar, 0.06% weaker than the average estimate in a Bloomberg survey. The move came after policy makers sent a string of …