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The cryptocurrency crowd has wasted no time in dancing on the grave of China’s “FUD” (internet speak for fear, uncertainty and doubt). Last week’s move by the People’s Bank of China (PBOC) to ban crypto transactions and mining dented the prices of Bitcoin, Ethereum and other digital currencies, but they’ve largely rebounded. The bulls reckon the latest attempt by Beijing ...

The tiny Himalayan kingdom of Bhutan, landlocked between the teeming multitudes of China and India, shot to global fame in the 1970s with gross national happiness: a broad measure of overall welfare it prefers over the more traditional metric of gross domestic product, which only includes production of goods and services, even those that ultimately leave us miserable. More recently, ...

While traders and policy makers preoccupy themselves with the question of Federal Reserve Chair Jerome Powell’s reappointment, a quiet battle for influence within the institution is intensifying. The exit of two regional officials could quiet dissent and further strengthen the chair’s considerable grip on monetary policy in the world’s largest economy. Eric Rosengren, president of the Boston Fed, and Robert ...

Bloomberg Rolls-Royce Holdings Plc agreed to sell its ITP Aero unit in Spain to a group led by Bain Capital for 1.7 billion euros ($2 billion), netting the British jet-engine maker much-needed cash to help it recover from the coronavirus crisis. The sale to Bain, JB Capital and Spanish defense firm Sapa will help Rolls rebuild its balance sheet, the ...

Bloomberg EasyJet Plc raised 1.2 billion pounds ($1.7 billion) in a stock sale, cash that will help the low-cost UK carrier weather the slow winter and prepare for a rebound in leisure travel. Existing investors purchased 93% of the 301 million shares available in a rights offering at a discounted price of 410 pence each, EasyJet said on Tuesday in ...

Bloomberg Demand for airplane-seat coverings that repel viruses and bacteria has soared during the Covid-19 pandemic, as carriers look to cut the time and cost of cleaning cabins. “The stakes are high for airlines,” said Quentin Munier, head of strategy and innovation at the seat division of aircraft-parts giant Safran SA. Tenders for new orders increasingly call for fabrics with ...

Bloomberg Wm Morrison Supermarkets Plc set an October 19 deadline for shareholders to vote on the hotly contested 7-billion-pound ($9.6 billion) takeover proposal by US private equity firm Clayton Dubilier & Rice LLC. Britain’s fourth-largest grocer published documents saying when shareholders will decide the outcome of what could be the country’s largest take-private deal in a decade. A vote of ...

Bloomberg United Airlines Holdings Inc Chief Executive Officer Scott Kirby said that 98.5% of its US-based employees have been vaccinated against Covid-19. The carrier expects to see vaccine totals “north of 99%” when it tallies final figures for how many employees have complied with its mandate to be vaccinated or face termination. United had set a September 27 deadline for ...

Bloomberg Thailand is looking to attract Indian travellers during the traditional holiday season to boost its tourism-reliant economy that’s been hit hard by the absence of mass holidaymakers from countries including China. The Thai tourism industry expects Indians to resume travel in large numbers next month during Diwali, the Hindu festival of lights, said Somsong Sachaphimukh, vice president of the ...

Bloomberg North Korea test-fired a ballistic missile just as its envoy was preparing to address the United Nations (UN), in a pointed gesture of defiance against international resolutions meant to prevent such launches. The projectile was fired from the northern province of Jagang around 6:40 am local time and landed in waters to the east, South Korea’s military said, without ...