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Bloomberg Bitcoin bubble or just the beginning? Or both? Those are the questions being asked on Wall Street to Main Street after the digital currency breached $5,000 for the first time, pushing this year’s gains to more than fivefold. As recently as December, bitcoin was trading at less than $1,000. Since then, it has dodged everything from tightening regulations, feuding ...

Bloomberg Kenya’s central bank may slightly lower its 2017 economic growth forecast to reflect uncertainty from this month’s unexpected presidential election do-over, said Governor Patrick Njoroge. “The growth rate won’t be as strong as we expected, but I don’t think we can say that we’ve gone over the precipice,” Njoroge said in an interview in Washington on Saturday, where he ...

Bloomberg Mark Carney is heading into a crucial week in the countdown to a possible Bank of England (BOE) rate increase in early November. After the International Monetary Fund (IMF) meetings where most central bankers fretted about weak inflation even amid robust global growth, the governor returns to an economy that’s almost the mirror opposite. While Brexit is weighing on ...

Bloomberg Philippine central bank Governor Nestor Espenilla said contained inflation means there isn’t a need to increase interest rates in the near term. “Right now there is no need to move policy rates looking at the inflation outlook,” Espenilla said in Washington where he was attending the annual International Monetary Fund meetings. “It might be too much of an anticipation ...

Bloomberg Bombardier Inc. is seeking investors for its aerospace businesses and considering a sale of some operations, people familiar with the matter said, as a turnaround plan at the Canadian planemaker faces pressure from potentially crippling US tariffs on its marquee jetliner. The Montreal-based manufacturer is studying the disposal of assets including its Q400 turboprop and CRJ regional-jet unit, said ...

Bloomberg Vincom Retail JSC, the Vietnamese mall operator backed by Warburg Pincus, has started taking investor orders for a domestic initial public offering that could raise as much as $680 million. Existing shareholders including Warburg Pincus and Credit Suisse Group AG are offering a combined 380.2 million shares at 37,000 dong to 40,600 dong apiece, according to terms for the ...

Bloomberg Hainan Airlines Holding Co., a unit of China’s HNA Group Co., moved to increase its stakes in three domestic carriers for 5.6 billion yuan ($850 million), continuing a buying spree as Beijing steps up scrutiny of the parent company’s acquisitions. Hainan Airlines plans to buy 10.3 percent of China Xinhua Airline Group Co., 37.6 percent of Changan Airlines and ...

Bloomberg Taco Bell took over the fashion district in Los Angeles. Yes, the same Taco Bell that serves up double-decker taco supremes and chicken chalupas held a full-fledged runway show. The show was put on to promote Taco Bell’s new fashion collaboration with Forever 21. Quirkiness is a signature of the fast-food chain, which often uses odd marketing to stay ...

Bloomberg Italian fashion house Gucci plans to drop animal fur from its collections, showing how concerns about responsible business practices that originated with the Birkenstock brigade have galvanised an industry known for its celebration of excess. The Milan-based maker of $1,000 fur-lined slippers, part of French luxury conglomerate Kering, will sell its remaining fur items in a charity auction, the ...

Bloomberg Airlines including Ryanair Holdings Plc and IAG SA’s Aer Lingus and British Airways are set to ground hundreds of flights and said more cancellations are likely as 90-mile per hour winds from Storm Ophelia slammed into Ireland. Ryanair halted 92 flights from across Europe as of 11:25 am Irish time, according to updates on its website. Dublin-based competitor Aer ...