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  San Francisco / AFP GoPro announced the recall of all Karma drones sold since sales launched last month. The company said it is recalling all of the approximately 2,500 Karma drones it has sold due to instances when power cut out during flight. “Safety is our top priority,” GoPro founder and chief executive Nicholas Woodman said in a release ...

  Bloomberg Canada Goose Inc., the retailer of high-end winter parka coats that can sell for more than $1,000 apiece, has chosen bankers to lead its planned initial public offering, according to people familiar with the matter. Credit Suisse Group AG, Canadian Imperial Bank of Commerce and Goldman Sachs Group Inc. will lead the Toronto-based retailer’s offering, the people said, ...

  Bloomberg BP Plc will invest $30 million in Fulcrum BioEnergy Inc., which makes biofuel from garbage, in a new partnership designed to curb airplane pollution. The London-based oil-producer also signed a 10-year deal to buy 500 million gallons (1.9 billion liters) of biofuel from Fulcrum’s North American plants, according to a statement by BP. BP will distribute the aviation ...

  Bloomberg The latest Google drones have just started taking flight in the real world. But the team behind the technology is slowing down, trimming headcount and shelving initiatives as the experimental unit becomes the latest target of tightening budgets across parent company Alphabet Inc. Project Wing, a unit of Alphabet’s X research lab, nixed a partnership with coffee giant ...

  Bloomberg Banks in the UK paid 34.2 billion pounds ($42 billion) in tax in the latest fiscal year, 9 percent more than a year earlier, reflecting an increase in the levy on balance sheets and changes to corporation tax, a report from the British Bankers’ Association showed. Receipts were evenly split between domestic and international lenders, with the former ...

  Frankfurt / AFP Donald Trump’s shock election win in the United States “is not a good day for the world economy” and could force the European Central Bank “to intervene”, governing council member Ewald Nowotny said on Wednesday. Nowotny told reporters in Vienna the ECB was “prepared to intervene” as he warned of “massive insecurities” after the vote outcome ...

  Bloomberg Tesco Bank, the lending arm of the U.K.’s biggest grocer, said it’s spending 2.5 million pounds ($3.1 million) to reimburse customers who lost money during a wave of fraudulent account transactions over the weekend. About 9,000 of the firm’s 136,000 checking-account clients fell victim and were fully reimbursed by Tuesday, the company said in a statement. The bank ...

  Bloomberg ABN Amro Group NV promoted Kees Van Dijkhuizen to chief executive officer to help complete the Dutch bank’s privatization, succeeding Gerrit Zalm, who returned the firm to the stock market last year. Van Dijkhuizen, 60, a former state official who has been the lender’s chief financial officer since 2013, will assume the CEO role by mid-February at the ...

  Bloomberg Skye Bank Plc, which had its management replaced by the Central Bank of Nigeria in July after breaching liquidity thresholds, plans to sell units outside of Africa’s biggest oil producer to ease pressure on capital buffers. The Lagos-based lender is seeking to dispose of majority stakes in its businesses in Gambia, Guinea and Sierra Leone, according to two ...

  Bloomberg China’s $3.2 trillion corporate bond market is already starting to reel from rising interbank borrowing costs, and the traditional year-end funding crunch hasn’t even started yet. The yield premium for five-year AA rated notes over the sovereign climbed 10 basis points in October as money market rates surged to an 18-month high. Worse may be yet to come ...