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Bloomberg As policy makers globally prepare to cut borrowing costs again, banks around the world are feeling the heat. Rock-bottom interest rates can help stoke growth, but they also put the squeeze on lending margins. Big US banks including JPMorgan Chase & Co and Citigroup Inc, which reported second-quarter earnings, are already seeing the revenue impact of declining interest rates …

Bloomberg JetBlue Airways Corpexpressed dismay with Airbus SE after the US carrier learned it will get less than half the A321neo jets it was expecting this year because of production snarls that are delaying deliveries of the European planemaker’s biggest single-aisle model. The New York-based airline will get a maximum of six of the aircraft this year, compared with the …

Bloomberg British Airways pilots’ planned strike may cost the airline as much as $50 million a day, the airline said in a lawsuit as it seeks to halt the walkout. Pilots at the airline backed industrial action — including what would be their first strike in about four decades — with a 93 percent majority, the British Airline Pilots Association …

Bloomberg Khazanah Nasional Bhd has hired Morgan Stanley to look at strategic options for Malaysia Airlines Bhd, according to an official in the prime minister’s department. The investment bank was brought in as an independent adviser for the airline’s recovery plan, Md Farid Md Rafik, a deputy minister in Mahathir Mohamad’s department, said in parliament on Wednesday, confirming a Bloomberg …

Bloomberg Japan’s largest clothing maker Fast Retailing Co issued an apology on its Korean website for remarks that angered Korean customers amid the trade spat between Japan and South Korea. At its earnings press conference on July 11, the Uniqlo owner’s CFO Takeshi Okazaki said he “thinks” that the impact of a boycott of Japanese goods wouldn’t last long. In …

Bloomberg United Parcel Service (UPS) Inc is seeking approval to operate delivery drones under the same rules as a private jet service, unlocking the potential to carry health-care packages over long distances between hospitals. The company is working with the US Federal Aviation Administration (FAA) to obtain Part 135 certification this year, a step toward freeing it from current commercial …

BEIJING / WAM Chinese President Xi Jinping has stressed the significance of peace and stability in the Gulf region for the Middle East as well as for the whole world, saying the region should be an “oasis of security” rather than a new “source of turmoil.” “China backs the UAE’s commitment to regional peace and stability,” Xi said, calling on …

Bloomberg The US has sanctioned a Chinese state oil trader for violating restrictions on Iranian crude, an attempt to tighten restrictions on the Islamic Republic and cut off one of its biggest buyers. Zhuhai Zhenrong Co., the secretive company with links to the Chinese military, has a history of taking Iranian crude and fuel, at times as part of barter …

Bloomberg The International Monetary Fund further reduced its global growth outlook, already the lowest since the financial crisis, and suggested that policy “missteps” on trade and Brexit could derail a projected rebound. The world economy will expand 3.2 percent this year and 3.5 percent next year, both down 0.1 percentage point from April projections, the fund said in its latest …

Bloomberg Blackstone Group is considering selling its stake in Cheniere Energy Partners LP, according to people familiar with the matter, seven years after agreeing to invest about $1.5 billion in the owner of the first major liquefied natural gas export terminal in the US. The private equity firm is working with an adviser on a potential sale of its interest …