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Bloomberg Spain kicked off the race to lock down the European Central Bank vice presidency after Prime Minister Mariano Rajoy confirmed the nation will bid for the post. The Spanish premier said the country is well-placed to present “a female or male” candidate for the role set to become vacant after the current No. 2, Portugal’s Vitor Constancio, retires in ...

Bloomberg The Bank of Spain cut its estimate for economic growth for 2018 and 2019 because of the impact of political uncertainty related to Catalonia’s drive for independence. Growth is set to slow to 2.4 percent next year from a previous estimate of 2.5 percent in September before the secession crisis erupted. The economy will grow 2.1 percent in 2019 ...

Bloomberg The German economic upswing is reaching an “increasingly mature state,” according to the Bundesbank. The Frankfurt-based institution lifted its projections for growth in Europe’s largest economy through 2019 and said it expects momentum to remain strong over the coming year, before moderating in the medium term. The Bundesbank sees inflation accelerating to 1.9 percent in 2020, with energy costs ...

Bloomberg A new dissenter on the Bank of Japan board calling for more stimulus has prompted the BOJ to adjust its communications to flag risks of additional eas- ing, according to people familiar with the central bank’s discussions. The change in messaging could explain why some investors wrongly interpreted Governor Haruhiko Kuroda’s recent comments on the “reversal rate” theory as ...

Bloomberg Target Corp. agreed to purchase grocery-delivery startup Shipt Inc. for $550 million, stepping up its challenge to Amazon.com Inc. by speeding the rollout of same-day shipping. The all-cash deal will let Target customers order groceries and other goods online, and then have the items sent directly to their doors from nearby Target stores. Buying Shipt further beefs up Target’s ...

Bloomberg Delta Air Lines Inc. ordered 100 of Airbus SE’s A321neo jetliners, a deal with a list value of $12.7 billion, in a major victory for the European planemaker over Boeing Co. Deliveries of the single-aisle planes will begin in early 2020 and the transaction includes options for an additional 100 aircraft, Delta said. The airline’s decision dealt a setback ...

Bloomberg Singapore Airlines Ltd.’s chief executive officer said that surplus capacity in the industry remains a challenge and the marquee carrier’s focus continues to be on delivering cost-efficient services. The group is in the midst of a review to fend off intensifying competition from other carriers at the premium end and low-cost operators at the budget end. The transformation may ...

Bloomberg Kenya Airways Ltd. expects second-half revenue to decline after violence during the country’s protracted presidential elections scared off passengers, Chief Executive Officer Sebastian Mikosz said. Travellers cancelled bookings as a rerun of the vote and court disputes over the outcomes stretched over three months, Mikosz said in an interview in the Mauritian capital, Port Louis. The impasse triggered violence ...

Emirates Business Dr Brian Etemad, CEO of Tamleek Real Estate, has been selected as the ‘Real Estate Genius of the Year 2017’ by UAE’s real estate publication Property Time. The selection is in recognition of his achievements of brining real estate investment from across the globe to Dubai. In a short span of time since its inception, Tamleek, spearheaded by ...

ABU DHABI / Reuters The United Arab Emirates is working with Saudi Arabia’s central bank to issue a digital currency that would be accepted in cross-border transactions between the two countries, UAE central bank governor Mubarak Rashed Al Mansouri said on Wednesday. The digital currency would be based on blockchain, the shared ledger of transactions that is maintained by a ...