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Bloomberg President Donald Trump said that the US dollar is too strong, and took a swipe at Federal Reserve Chairman Jerome Powell as someone who “likes raising interest rates.” The US economy is doing well in spite of the actions of the central bank, Trump said during a wide-ranging speech at the Conservative Political Action Conference in National Harbor, Maryland. ...

Bloomberg The debt-trading malaise that hurt US lenders last quarter has extended north of the border, though Royal Bank of Canada’s equities traders helped soften the blow. The lender saw a 12 percent drop in trading revenue from fixed income, currencies and commodities in the three months through January, advancing the trend that affected US banks including JPMorgan Chase & ...

Bloomberg Tunisia’s central bank warned over the deteriorating state of the country’s finances and called for additional efforts to curb inflation after the first hike in interest rates since June. The current-account deficit reached an “unprecedented” 11.2 percent of gross domestic product in 2018, according to Governor Marouane El Abassi. The decision to raise the benchmark by 100 basis points ...

Bloomberg Indonesia’s central bank left its benchmark interest rate unchanged, dropping some of its more hawkish comments of the past as the Federal Reserve’s policy pause helped to ease pressure on emerging markets. The seven-day reverse repurchase rate was left at 6 percent for a third month, as predicted by all 33 economists surveyed by Bloomberg. Bank Indonesia hiked six ...

Bloomberg The gatekeepers of mainstream commerce are keeping their doors shut to cryptocurrency companies. Entrepreneurs in the digital-assets industry from New York to Hong Kong say that even as some attract investment from multibillion-dollar institutions like Singapore’s sovereign wealth fund, they are routinely refused basic banking services by the likes of HSBC Holdings Plc and JPMorgan Chase & Co. While ...

Bloomberg Boeing Co. ended a two-year sales drought for its 777X aircraft, as the owner of British Airways struck a deal for as many as 42 of the planes to replace an aging fleet of 747 jumbo jets. IAG SA will order 18 of the 777-9, the largest version of the wide-body jet, the planemaker said in a statement. British ...

Bloomberg Amazon.com Inc. plans to open dozens of grocery stores in US cities, The Wall Street Journal reported, a move that would expand the retail and technology giant’s grocery footprint beyond its Whole Foods Market chain. The first of these stores will open in Los Angeles as early as the end of 2019, and Amazon is in talks to open ...

Bloomberg Gap Inc.’s announcement that it’s spinning off the best part of its business — Old Navy — sent the apparel retailer’s shares soaring 25 percent in premarket trading. The remaining company, which still needs a name, will consist of the namesake Gap brand, Athleta and Banana Republic, plus a couple of lesser known brands. It will have annual revenue ...

Bloomberg The French and Dutch governments moved to calm a political maelstrom triggered by their power struggle over Air France- KLM, with finance ministers papering over differences and pledging to work together to review the carrier’s shareholding and operations. “Our goal is to make Air France-KLM the best-performing airline in the world,” French Finance Minister Bruno Le Maire said at ...

Bloomberg Massmart Holdings Ltd.’s lower dividend payout is yet another international headache for majority owner Walmart Inc. The South African retailer, controlled by the Bentonville, Arkansas-based global chain, cut its full-year dividend 40 percent, sending the shares as much as 6.7 percent lower. Walmart, which bought a majority stake in Johannesburg-based Massmart in June 2011 for 16.5 billion rand ($1.2 ...