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Bloomberg Even fund managers who were once shunning the pound are now betting on a rally as the UK inches towards a Brexit divorce deal. Allianz Global Investors, which has been consistently short the pound since the referendum in 2016, has switched to multiple long positions on the currency. Union Bancaire Privee sees volatility rising and is looking to buy ...

Bloomberg Alibaba Group Holding Ltd. logged 213.5 billion yuan ($30.7 billion) in sales for its annual Singles’ Day extravaganza, setting a record as shoppers swarmed the e-commerce giant’s online bazaars. China’s largest company reported that Xiaomi Corp., Apple Inc. and Dyson Ltd. products were the top three brands in early sales. The annual retail celebration, originally dedicated to the nation’s ...

Bloomberg Indonesia’s national rescue agency ended a search for victims of the Lion Air plane that crashed into the Java Sea about two weeks ago, while those trying to locate the cockpit voice recorder face a new challenge as an electronic signal from the device fades. The task of finding victims or their remains has been left to local teams, ...

Bloomberg Interloop Ltd., which makes socks for Nike and Adidas, is planning Pakistan’s biggest ever initial public offering by a private firm. The company plans to raise $51 million to expand its sock manufacturing capacity by around 20 percent and enter the denim business, said Chairman and Co-Founder Musadaq Zulqarnain. It will offer 12.5 percent of the business in the ...

Bloomberg The Horizon Air worker who stole an airplane from Seattle’s airport and took it for a ride crashed intentionally to commit suicide, the FBI said in a report that concluded he had no apparent ties to terrorism. Ground service agent Richard Russell, 28, acted alone and no charges are planned in the August incident, the agency said. Investigators found ...

Bloomberg Airbus SE’s latest monthly order tally signalled a big change for India’s IndiGo. The planemaker’s biggest customer for the A320neo is upgrading 125 of its existing orders for the narrowbody’s bigger sister model. IndiGo, one of the few Indian carriers with enough cash to aggressively expand, has been mapping out a way to build a long-haul, low-cost business taking ...

Bloomberg Venezuelan airline Aerolineas Estelar Latinoamerica CA will begin to offer a direct flight from Caracas to New York more than two years after the route disappeared from its itineraries. Isolated Venezuelans have few options when flying. Carriers such as Delta Air Lines Inc., Latam Airlines SA and Avianca Holdings SA have scrapped flights to Caracas for security reasons as ...

Bloomberg Buy high, sell low and guarantee a loss. It’s not exactly what Toshiba Corp planned when it dipped its toes in liquefied natural gas trading. Yet that’s exactly how it turned out, as the Japanese industrial giant capped off its five-year misadventure in LNG by paying ENN Ecological Holdings Co $806 million to take its interest in a US ...

Bloomberg The oil fields of West Texas don’t sit still for long. Take Carrizo Oil & Gas Inc.’s operations, for instance. Just three months after moving drill rigs out of the Permian Basin because of pipeline shortages, the Houston-based explorer is already talking about bringing them back in the middle of next year. That’s one of several signs the end ...

Bloomberg Almost two years after Exxon Mobil Corp removed billions of barrels of oil-sands crude from its reserves, its Imperial Oil Ltd unit is investing again, saying low Canadian crude prices that scared off the other majors make it a perfect time to build. Imperial Chief Executive Officer Rich Kruger puts the rationale for the C$2.6 billion ($2 billion) Aspen ...