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Bloomberg The Bank of England’s remit should be overhauled to include a 3 percent target for productivity growth, according to a report commissioned by the UK’s opposition Labour Party. The central bank should also have its toolkit expanded to include credit guidance and greater use of macro-prudential policy, said the study, led by GFC Economics’ Graham Turner. The proposals, for ...

Bloomberg Morocco’s central bank kept its benchmark interest rate unchanged despite rising inflation that’s prompted a damaging product boycott. The central bank kept the key rate at 2.25 percent, citing medium-term inflation and growth prospects. Last month the general affairs minister said the economy could withstand annual price growth of as much as 3 percent, above the 2.7 percent reached ...

Bloomberg Standard Chartered Plc expects Africa to account for a bigger slice of revenue if the region is able to put in place policies that will further spur economic growth, Chairman Jose Vinals said. “If they do the right thing, they’ll grow faster than other countries which are more advanced,” he said in an interview in Lagos, Nigeria’s commercial capital. ...

Bloomberg Taiwan’s central bank will keep its benchmark interest rate unchanged on Thursday as a brewing trade war adds to risks facing the export-oriented economy, according to a Bloomberg survey. A majority of 33 economists said Taiwan will hold the discount rate for banks at an eight-year low of 1.375 percent, while only three predicted an increase of 12.5 basis ...

Bloomberg Boeing Co. landed a deal for 24 cargo aircraft from FedEx Corp. worth $6.6 billion as the revival in the air freight market continues to grow. The package-hauler plans to add 12 of Boeing’s medium-size 767 freighters and 12 of the larger 777 cargo aircraft to its order book, the Chicago-based planemaker said in a statement. FedEx is already ...

Bloomberg India has decided not to immediately revive a plan to sell its money-losing flag carrier Air India after a failed attempt to find a buyer for the state asset, people familiar with the matter said. Prime Minister Narendra Modi’s administration has virtually abandoned the planned sale of Air India Ltd. after it failed to attract any bidder in a ...

Bloomberg Tesco Plc racked up its 10th consecutive quarter of growth and cut prices in a pre-emptive strike against rivals preparing to challenge its role as the UK’s largest retailer. The supermarket operator has lowered prices on its own-brand meat, fruit and vegetables, countering reductions promised by J Sainsbury Plc as part of its planned acquisition of Walmart Inc.’s Asda ...

Bloomberg American Airlines Group Inc. will cull its management ranks as it sets a course to complete five years of work merging with US Airways. “While not all integration work is complete, much of it is and as a result, now is the right time to look at the organisational structure we need for the future,” American Chief Executive Doug ...

Bloomberg Kering tapped an unknown designer who worked at luxury rival LVMH’s Celine to revamp the Italian handbag-maker Bottega Veneta. The 32-year-old British designer Daniel Lee will take over as creative director of the French luxury company’s third-largest brand in July. He’s succeeding Tomas Maier, the German designer who built Bottega Veneta into a $1.5 billion business but one whose ...

ABU DHABI / WAM The Ministry of Foreign Affairs and International Cooperation (MoFAIC) and the UAE Armed Forces on Tuesday presented evidence showcasing a wide range of military weapons and equipment acquired by the Arab Coalition during operations in Yemen on behalf of the legitimate Yemeni Government. The captured weapons, each of which bore distinctive links to Iran, provided physical ...