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Bloomberg China’s central bank is caught in a bind, as it seeks to tighten monetary policy for some parts of the economy while loosening it for others. Already engaged in the mammoth task of wringing bad debts out of China’s $40 trillion-plus financial system, the People’s Bank of China is now attempting to achieve that while simultaneously being asked to ...

Bloomberg Just 20 banks have applied for a license to operate in the European Union in time to receive approval before Britain leaves the bloc. The European Central Bank has talked with 50 financial companies exploring options to retain the so-called passport that grants them access to one of the world’s largest economies, said Pentti Hakkarainen, a member of its ...

Bloomberg The UK Serious Fraud Office has dropped a criminal investigation into Lloyds Banking Group Plc and its former traders over Libor rigging, according to a newspaper report. Investigators concluded there was insufficient evidence to take the matter further in respect of former traders and the bank, The Times reported, without saying where it obtained the information. The SFO has ...

Bloomberg Ryanair Holdings Plc is facing pilot strikes in its Irish home market next week, in what may become the most significant confrontation between Europe’s biggest low-cost carrier and organized labor to date. A poll of Ryanair cockpit crew produced a 94 to 1 vote in favour of industrial action including strikes, a spokesman for the Irish Air Line Pilots’ ...

Bloomberg ANA Holdings Inc., Japan’s largest airline, will cancel 113 domestic flights for mandatory checks to help assess possible glitches in the Rolls-Royce Holdings Plc engines powering its Boeing Co. 787 Dreamliners. The flights will be cancelled from July 6-12, the Tokyo-based carrier said in a statement on Wednesday. ANA is assessing whether more flights need to be scrapped beyond ...

Bloomberg Asiana Airlines Inc., South Korea’s second-biggest carrier, said its struggle to provide in-flight meals to passengers departing Seoul continued for a fourth day after a caterer was unable to deliver the food on time. About seven out of 79 flights were expected to depart on Wednesday from Incheon airport, which serves Seoul, without any food for passengers, a spokesman ...

Bloomberg Supervalu Inc. and other supermarket and restaurant chains alleged that chicken producers conspired to limit supplies and inflate prices, adding to antitrust lawsuits against companies including Tyson Foods Inc. and Pilgrim’s Pride Corp. Closely held grocery chains Publix Super Markets Inc., Wakfern Food Corp., Associated Grocers of the South Inc. and Meijer Inc., along with OSI Restaurant Partners LLC, ...

Bloomberg J Sainsbury Plc showed why it’s so eager to lead a consolidation push among the UK’s grocers. Excluding fuel, Sainsbury’s comparable retail sales rose 0.2 percent in the 16 weeks through June 30, the London-based company said. That met the average analyst estimate but marked the slowest growth since the company acquired catalog retailer Argos in 2016. “The slowdown ...

DUBAI / Emirates Business The UAE GDP is expected to accelerate to 2.6% growth in 2018 and to around 3.8% in 2019. The growth will be primarily driven by recovering oil prices, an expansionary fiscal stance at the federal and emirate levels, a buoyant trade and tourism environment and a pick-up in investment ahead of Expo 2020 in Dubai, according ...

RIYADH / WAM The Saudi-led Arab Coalition to Restore Legitimacy in Yemen has expressed its rejection of a report issued by the UN Secretary-General Antonio Guterres, saying it contains inaccurate data on children who lost their lives in the armed conflict in Yemen. Colonel Turki Al Malki, the Coalition’s official spokesperson, said that the report included false, baseless infor- mation ...