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Bloomberg Consumer spending lost momentum in June and a drop in dividend payments caused incomes to stagnate, signaling the US economy may get less help from households this quarter, Commerce Department figures showed on Tuesday. June marked a third straight month of slowing nominal spending. A weaker handoff into this quarter signals household outlays, which accounts for about 70 percent ...

Bloomberg Ferrari NV is considering adding a roomy four-seat “utility vehicle” as part of a major expansion push beyond its traditional supercar niche in a bid to double profit by 2022, people familiar with the matter said. The final five-year plan under CEO Chief Executive Officer Sergio Marchionne, who’s set to retire in 2021, will target boosting annual deliveries beyond ...

Bloomberg Britons needn’t worry that they’ll be hit by the scorching summer blazing across Spain, Italy and the Czech Republic. The UK, northern France, Germany and the Baltic States can expect a cooler-than-average August, according to five meteorologists surveyed by Bloomberg. The rest of the mainland will likely continue to be hotter than normal, with record-high temperatures seen in some ...

Bloomberg Boeing Co. is creating a new unit that develops avionics for its commercial and military aircraft, a move that potentially pits the planemaker against suppliers such as Rockwell Collins Inc. and Honeywell International Inc. Rockwell Collins posted the biggest decline in almost six years on the news that its second-largest customer is planning a rival product lineup. Boeing Avionics ...

Bloomberg Fraport AG’s Turkish joint venture is getting a loan of 200 million euros ($235 million) to repay debt for Antalya Airport after terror attacks over the past two years cut revenue, two people familiar with the matter said. The operator and its local partner will use 180 million euros to refinance an existing loan and the balance for its ...

Bloomberg SoftBank Vision Fund, the technology investor founded by Masayoshi Son, is in talks to invest directly in India’s Flipkart Online Services Pvt, according to people familiar with the matter, after talks to fold SoftBank-backed Snapdeal into Flipkart fell apart. The fund is looking at putting between $1.5 billion and $2 billion into the largest Indian e-commerce operator within the ...

Bloomberg IndiGo, India’s biggest airline, said it received compensation from Pratt & Whitney as the manufacturer struggles to fix glitches in engines that power Airbus SE’s new A320neo jets. The nature of the compensation from Pratt & Whitney is confidential, the airline’s Chief Financial Officer Rohit Philip said after the airline reported first-quarter profits. The carrier is not happy with ...

If President Trump ordered a senior government official to support the firing of special counsel Robert Mueller, how should that person respond? Adm. Mike Rogers, head of the National Security Agency, answered my question about that onstage last week at the Aspen Security Forum. He began with the usual caveat that he wouldn’t answer a hypothetical, but then offered a ...

Tycoon Patrick Drahi has been telling everyone lately that he’s going to spend about 15 billion euros ($17.6 billion) building a national fiber broadband network in France. What’s more, he says his local operator SFR Group SA will have it done by 2025 and won’t take the public subsidies used by his rivals. If he follows through on the big ...

That was fun. Just 240 or so hours ago, Anthony Scaramucci, absent relevant experience and credentials, became the White House communications director. It was a palace coup that also forced the departures of press secretary Sean Spicer and chief of staff Reince Priebus from the administration of President Donald Trump, and appeared to leave Steve Bannon’s future in doubt as ...