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Bloomberg Brazil held its benchmark interest rate at a record low and signaled that a period of weaker-than-expected growth is still insufficient for reduced borrowing costs. The bank’s board, led by its President Roberto Campos Neto, voted unanimously to keep the Selic rate unchanged at 6.50 percent. The monetary authority has held borrowing costs steady for roughly a year. In ...

Bloomberg Danske Bank A/S is turning into a case study for European regulators, legislators and bankers to rethink fundamental assumptions about how the finance industry should operate. First up is the principle that bank clients should be protected by secrecy laws. The sheer scale of the Danske money-laundering scandal means those rules may now get a review. The financial regulator ...

Bloomberg The amount of money Boeing Co and its insurers will pay to the families of those who perished aboard two doomed jets will be dictated in part by one particularly grim calculation: How long did the victims know they were plunging to their deaths. That measure is just one part of an expanding legal fight to determine financial liability ...

Bloomberg Viva Air, the Latin American group of carriers owned by a founder of Ireland’s Ryanair Holdings Plc, has plans for a third airline in the region plus an initial public offering, to cash in on strong demand for discount air travel. The company aims to sell shares in New York within two years, Viva’s biggest shareholder, Declan Ryan, said ...

Bloomberg Steinhoff International Holdings NV was for many years run by a board of tight-knit people, many of whom had done business together for decades. Just how close they were became apparent with the release of Steinhoff’s 2017 annual report, which identified a plethora of related-party transactions that the company now says weren’t properly disclosed according to best corporate governance ...

Bloomberg With President Donald Trump slapping 25% tariffs on $200 billion in Chinese goods, those companies who’d already started moving production outside China are looking pretty smart. But those shifts come with their own headaches. Take Tapestry Inc, owner of the Coach and Kate Spade brands. As it relocates more manufacturing outside China, interim finance chief Andrea Shaw Resnick says ...

Bloomberg Wm Morrison Supermarkets Plc reported its slowest quarterly revenue growth in at least a year and said it’s loosening a pact with online retailer Ocado Group Plc so that it can add other digital partners. Comparable retail sales rose 2.3% in the first quarter. The figure missed analysts’ 2.5% estimate. Chief Executive Officer Dave Potts faces the challenge of ...

Bloomberg IAG SA eked out a profit in the first quarter even after the impact of a European fare war that pushed its biggest rivals to a loss. Shares of the British Airways owner rose as much 5.1% after it posted an operating profit of 135 million euros ($151 million), while reiterating its full-year guidance and predicting that pricing will ...

Bloomberg US President Donald Trump’s administration told China it has a month to seal a trade deal or face tariffs on all its exports to the US, even as both sides sought to avoid a public breakdown in negotiations despite a developing stalemate. The threat was made during talks in Washington, hours after Trump upped the ante by imposing a ...

Bloomberg Yemen’s Iran-backed Houthi rebels have started to withdraw from the Red Sea port city of Hodiedah, a key lifeline for food and supplies, months after the UN brokered a pact to spare it from a prolonged conflict. The rebels said they were also withdrawing from ports of Salif and Ras Eisa, in line with a UN announcement about their ...