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Bloomberg UBS Group AG Chairman Axel Weber said markets are underpricing the risk that the coronavirus poses to the global economy. “There is going to be quite a bit of impact that is going to go beyond the first quarter and that is where fiscal response, providing businesses with some tax relievers, some emergency funding, that is going to be ...

Bloomberg Banque Misr SAE is seeking to borrow $250 million from international lenders this year to boost financing at home, while it presses on with plans to expand into three countries it’s targeting in sub-Saharan Africa. Egypt’s second-largest state-owned lender will use the debt to finance small- and medium-size enterprises, among other purposes, Chairman Mohamed Eletreby said in an interview. ...

Bloomberg Boeing Co put three employees who worked with the former chief technical pilot of the 737 Max on administrative leave as a federal grand jury investigates whether he intentionally misled the Federal Aviation Administration (FAA) about a software system tied to two deadly crashes, people familiar with the matter said. The employees were notified of the action, according to ...

Bloomberg The $35 bag fee is gaining traction as US airlines contend with the financial fallout of the grounding of the 737 Max jet and a viral pandemic that has decimated travel to China. United Continental Holdings Inc will increase the charge for passengers’ first and second checked bags by $5, to $35 and $45, respectively. The fee changes applied ...

Bloomberg Business-jet shipments last year jumped to their highest level in a decade, spurred on by new models and solid US economic growth. Deliveries rose 15% to 809 aircraft, the General Aviation Manufacturers Association (GAMA) said. Sales jumped 17% to $21.1 billion, driven in large part by big corporate planes. New aircraft, including the Gulfstream G500, Bombardier Inc’s Global 7500 ...

Bloomberg Walmart Inc is parting ways with grocery-delivery partner Skipcart, the latest defection from its network of logistics companies who often struggle to make ends meet schlepping cola and cantaloupes for the nation’s biggest food retailer. Skipcart notified Walmart that it was terminating their relationship effective from April 30, according to a letter obtained by Bloomberg News. That end date ...

Bloomberg Zimbabwe’s troubled national airline has failed to secure outside investment, dealing a blow to government plans to sell state-owned assets and secure much-needed revenue. The airline, which in October 2018 was placed under administration, a form of bankruptcy protection, received expressions of interest from 10 international investors and had short-listed three bidders. “A process to solicit for a strategic ...

Bloomberg Qantas Airways Ltd is slashing capacity on international flights in Asia by 15% and freezing recruitment as the coronavirus drives down travel demand. The reductions apply to flights to mainland China, Hong Kong and Singapore and will be in place until at least the end of May, the Australian airline said in a statement. The cuts are the equivalent ...

Bloomberg The guardians of the world economy are convening amid mounting fears that the coronavirus outbreak poses a greater threat to global growth than first envisaged. Finance ministers and central bankers from the Group of 20 nations began meetings on Saturday in the Saudi capital of Riyadh for the first time since the virus forced much of China to be ...

Bloomberg Oil fell as the coronavirus outbreak accelerated beyond China, intensifying concerns about the infection’s economic fallout. Futures fell 0.9% in New York. China revised how it calculates infection totals for the third time this month, raising questions about data reliability and confirming the virus’s growing reach. Meanwhile, a key IHS Markit gauge of factories and service providers in the ...