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Bloomberg New York sued the US over a decision to allow financial technology companies to apply for special national banking charters, saying the move is “lawless” and “ill-conceived” and will destabilise financial markets that are more effectively regulated by the state. Maria Vullo, superintendent of the state’s Department of Financial Services, filed the lawsuit against the Office of the Comptroller ...

Bloomberg Imagine landing at a major airport and the only human official you meet on your way through the terminal is a customs officer. Singapore’s Changi Airport, voted the world’s best for the past six years by Skytrax, is pursuing that goal of extensive automation with such vigour that it built an entire terminal to help test the airport bots ...

Bloomberg UK online fashion seller Boohoo Group Plc named a new chief executive officer from the fast-growing Primark chain, offering him a payout of as much as 50 million pounds ($65 million) to spur growth. John Lyttle, currently chief operating officer of Primark, will join Boohoo in March, according to a statement. The move comes as Boohoo, which owns the ...

Bloomberg Cathay Pacific Airways Ltd. and some other airlines resumed services to Hong Kong, a city that was battered over the weekend by a powerful typhoon, forcing the cancellation of almost 900 flights. The city’s flag carrier reported on its website “a gradual return to scheduled flight operations” starting from Monday morning. The Hong Kong International Airport said that passengers ...

Bloomberg Hennes & Mauritz AB shares rose the most in 16 years after the ailing Swedish fashion retailer reported sales growth that took analysts by surprise, boosting optimism the H&M chain may have turned the corner. The stock surged as much as 11 percent on Monday, adding $2 billion to the market value of the Stockholm-based retailer. H&M reported third-quarter ...

Bloomberg Singapore’s sovereign wealth fund has expressed interest in buying General Electric Co.’s plane-leasing unit, said people with knowledge of the matter. At a meeting between GIC Pte. and GE officials in August, fund executives asked whether the Boston-based company would consider selling all or a part of GE Capital Aviation Services, said the people, who asked not to be ...

Abu Dhabi / WAM A delegation from the Abu Dhabi National Exhibitions Company (Adnec), is on a visit to the US to discuss partnership possibilities with leading international event organisers, in line with its strategy of promoting Abu Dhabi as the hub for business tourism in the Middle East and North Africa region. The delegation, led by Humaid Matar Al ...

ABU DHABI / WAM Relations between the UAE and Norway have witnessed significant growth over the past decades, and the value of trade between the two countries reached some AED2.3 billion ($640 million) in 2017, compared to AED1.2 billion in 2016. The Trade Policy Revision with Norway Report, issued by the Ministry of Economy, indicated that imports from Norway amounted ...

ABU DHABI / WAM In yet a fresh sign of a positive economic outlook for the country, Abu Dhabi’s non-oil foreign trade during H1 2018 amounted to AED80.1 billion, with the month of June recording a growth of 30%. According to figures released by the Statistics Centre- Abu Dhabi, the emirate’s non-oil exports stood at around AED11.08 billion during H1, ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has approved an AED50 billion ($13.6 billion) development plan for Abu Dhabi. The three-year development accelerator programme, dubbed ‘Ghadan 21’, was approved during a meeting with members of the Abu Dhabi Executive Committee. His ...