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Bloomberg Rico Zorkendorfer, among several members of Apple Inc’s industrial design team to leave the company in recent months, has joined Bumblebee Spaces, a startup seeking to merge robotics with home furnishings. Zorkendorfer left Apple in April and is now leading design at the San Francisco-based startup that is combining smart home products and robotics, Sankarshan Murthy, the company’s co-founder ...

Bloomberg Ford Motor Co is preparing to make a bigger push in electric vehicles (EV), according to Morgan Stanley. The company doesn’t currently offer any electric cars although it has been heavily investing in such technology. The carmaker’s ongoing discussions with Volkswagen AG promise to take its electric-car ambitions “to the next level,” analysts led by Adam Jonas wrote in ...

Bloomberg European governments are actively discussing nominating Bank of England (BOE) Governor Mark Carney as the next head of the International Monetary Fund, according to a person familiar with the matter. While a Canadian by birth, Carney holds British and Irish passports, so his selection would technically preserve the seven-decade practice of a European running the Washington-based lender. The BOE ...

Bloomberg India will inject another 700 billion rupees ($10.2 billion) into state banks, giving them a bigger cushion to absorb loan losses and bolster credit growth at a time when the country’s shadow banks are in retreat. The new infusion will “boost capital so that credit can be further improved,” Finance Minister Nirmala Sitharaman said, while presenting the federal budget ...

Bloomberg Christine Lagarde is set to join what remains a minority of women in senior roles at euro-area central banks. While she’s secured the top job at the ECB, all the permanent governors in the currency bloc’s 19 members are men. Female representation in high-ranking positions is still lacking at the Frankfurt-based institution and most of the national monetary authorities. ...

Bloomberg Shortly after being appointed South Africa’s Registrar of Banks in 2015, Kuben Naidoo asked his colleagues where the banking license division was. He was told that there wasn’t one because the registrar hadn’t received an application for 11 years. After Naidoo received his first application from TymeBank that year, the activity hasn’t stopped. The regulator has received applications from ...

Bloomberg A little over two decades ago, Deutsche Bank AG set out to become a Wall Street giant. Its CEO Christian Sewing will probably pull the plug on that dream for good soon. Sewing is poised to unveil the biggest job cuts programme in the bank’s history, including a major retreat across its briefly held US empire, people familiar with ...

Bloomberg Europe’s aviation regulator has outlined five major requirements it wants Boeing Co to address before it will allow the planemaker’s 737 Max to return to service, according to a person familiar with the matter. One of them, about the jet’s autopilot function, hasn’t surfaced previously as an area of concern. The European Union Aviation Safety Agency (EASA) has sent ...

Bloomberg India will revive plans to sell Air India Ltd, after an attempt to partially exit the loss-making carrier failed to find a single buyer last year. The high-profile divestment would be part of PM Narendra Modi’s efforts to raise $15.3 billion selling stakes in state-run companies, finance minister Nirmala Sitharaman said in her budget speech. The administration will also ...

Bloomberg Amazon.com is facing an initial review by the UK competition regulator into its bid to buy a slice of fast-growing food delivery startup Deliveroo. The Competition and Markets Authority (CMA) said it has “reasonable grounds” to believe that Amazon and Deliveroo have either ceased to be separate businesses, or will merge in the near future, according to the enforcement ...