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Bloomberg The world’s oldest central bank stands to be the most significant this month as it pioneers a shift away from negative interest rates. Sweden was among the handful of economies that reduced key interest rates half a decade ago below zero. Now officials at the Riksbank — founded in 1668 — insist the policy has done its stimulus work, …

Bloomberg European stocks and US equity futures started the week on the front foot amid hopes a partial trade deal between America and China eases a key risk for investors heading into year-end. Treasuries edged lower. The Stoxx Europe 600 became the latest major equity gauge to hit a new all-time high as it jumped for a fourth day, led …

Bloomberg For the owners of red-hot luxury brands such as LVMH’s Louis Vuitton and Kering SA’s Gucci, 2019 turned out to be a spectacular year in the stock market, confounding the dire predictions from some analysts. It may be hard to replicate that feat in 2020. Kering and Hermes International have each surged 37% this year, while juggernaut LVMH has …

Bloomberg PG&E Corp shares plummeted after California Governor Gavin Newsom rejected its bankruptcy restructuring plan, forcing the company to make sweeping changes to meet his demands. The state’s largest power company has until Tuesday to address conditions that Newsom laid out in a letter late last week rejecting its reorganisation proposal. The governor said the current plan falls “woefully short” …

Bloomberg Sales of private apartments in Singapore rebounded in November amid concerns a property glut could halt a nascent price recovery. Developers in the city-state sold 1,147 units last month versus 931 dwellings in October, urban redevelopment authority data released on Monday showed. The 23% gain came despite fewer apartment launches; home builders launched 740 apartments for sale last month …

Bloomberg Expatriate pilots flying Boeing Co.’s most popular plane for Chinese airlines used to be able to take their pick from dozens of jobs paying $300,000 plus perks thanks to a shortage of experienced aviators there. The grounding of the 737 Max has changed that. Chinese carriers have largely stopped hiring foreign pilots for Boeing’s main narrow-bodied jet, nine months …

Bloomberg The US is expected to buy 22 aging fighter jets from Switzerland, a country that’s struggling to modernise its own air force. US Navy representatives and the Swiss defense procurement agency, known as Armasuisse, discussed the deal in July, an agency spokesman said by email. The contract is expected to be signed once US lawmakers approve the fiscal 2020 …

Bloomberg Finland’s national carrier Finnair Oyj is starting its next big round of investments: as much as 4 billion euros ($4.5 billion) on modernising and expanding its narrow-body fleet of aircraft to fly between European cities. The investment comes on top of 2 billion euros spent over the past five years on transforming Finnair’s long-haul fleet to boost fuel efficiency, …

Bloomberg Sports Direct International Plc surged the most in a decade after the UK retailer said it’s seeing “green shoots of recovery” at its troubled House of Fraser department stores. The company, controlled by billionaire Mike Ashley, acquired the chain last year as the UK’s retail crisis deepened. Sports Direct said the outlook for House of Fraser is brightening after …

Bloomberg Airline industry profits will come in lower than forecast this year as passenger numbers and cargo volumes are held back by slowing economic growth and global trade wars, the International Air Transport Association (IATA) said. With less than a month left in 2019, the trade body has lowered its annual profit estimate to $25.9 billion — $2.1 billion less …