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Bloomberg Morgan Stanley has hired Umi Mehta, an investment banker focussed on internet companies, from Bank of America (BofA) Corp in Silicon Valley, according to people familiar with the matter. Mehta has started work as a managing director of global internet at Morgan Stanley’s office in Menlo Park, California, working alongside Kate Claassen as co-head of the group, said the …

Bloomberg The World Bank projects Indonesia’s economic growth will slide to below 5% next year and warned of “severe” outflows if global risks worsen. The forecasts were made in a presentation to Indonesian President Joko Widodo, according to two people with knowledge of the matter, who didn’t want to be identified because the discussions were private. The presentation slides — …

Bloomberg Lloyds Banking Group Plc suspended its share buyback after a last-minute rush of compensation claims for mis-sold payment protection insurance, taking its total costs for the scandal to 21.8 billion pounds ($26.7 billion). Lloyds shares fell as much as 2.5 percent in London. The bank is making a further provision of between 1.2 billion pounds and 1.8 billion pounds …

Bloomberg Oil kept up its push higher after Saudi Arabia’s new energy minister signaled that Opec and its allies would continue with output cuts as the group prepared to gather in Abu Dhabi. Futures in New York added as much as 2.9% after newly-appointed Saudi Energy Minister Prince Abdulaziz bin Salman said there won’t be radical change in the policy …

Bloomberg Volkswagen AG is unwrapping not just new models at the Frankfurt car show, but also a tweaked logo as the world’s biggest carmaker ushers in the electric era. Little-changed since World War II, the new VW emblem will be uncovered atop its headquarters in Wolfsburg on Monday. Then later in Frankfurt, the manufacturer will unveil the VW brand’s electric-powered …

Bloomberg Ken Griffin’s splurge on luxury real estate properties shows no signs of abating. The hedge fund titan spent $99.1 million for a beachfront house adjacent to his existing Palm Beach estate, according to the Palm Beach Post, citing sources with knowledge of the transaction and a deed filing. A Palm Beach County document confirmed the purchase price, but didn’t …

Bloomberg US stock-index futures climbed with equities in Asia as traders weighed a series of fresh stimulus moves expected from the world’s central banks. Shares fluctuated in Europe, where bonds slipped alongside Treasuries. Contracts on the three main US stock gauges advanced after Federal Reserve Chairman Jerome Powell gave his last speech before the next policy meeting and cemented views …

Bloomberg Mainland Chinese stocks are outperforming their offshore-listed peers as domestic investors bet the country’s economy will withstand the trade war with the US. The Shanghai Composite Index has rallied more than 21 percent this year, compared with a 4.3 percent advance by the Hang Seng China Enterprises Index in Hong Kong. The Shanghai measure is trading near its highest …

Bloomberg British Airways scrapped almost all of its timetable for the next two days as pilots went on strike for the first time in decades in a labour dispute that could cost the carrier 80 million pounds ($98 million). The unit of IAG SA had “no option” but to cancel almost 100 percent of services amid the action over pay, …

Bloomberg More than 5,000 passengers are stranded at Japan’s Narita international airport as highways were closed off and train services were suspended after a powerful typhoon hit the nation’s capital. That number was expected to rise until the last flight arrived at about 11 pm, with no notice so far from the rail and highway operators on when services and …