LONDON: Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognising that some turbulence in financial markets will have to be negotiated along the way.
Takata, the Japanese automotive supplier at the centre of a global recall of exploding airbags, has filed for bankruptcy protection in Japan and the US, saddled with liabilities exceeding $10bn to address massive recall costs.
Passengers on board an AirAsia flight that was forced to return to Australia were told by the captain to "say a prayer" after a problem reportedly with an engine made the plane shudder like a "washing machine".
Royal Bank of Scotland is cutting 443 UK jobs dealing with business loans as it shifts many of the roles to India. The state-owned bank said it was moving the jobs, which help to handle loans for small businesses, as part of an ongoing cost-cutting drive.
An outsized $6.6bn bond deal by Evergrande, the Chinese developer, risks raising borrowing costs in Asia's booming bond markets, analysts have warned, following a rare first-day price fall that left buyers of the deal nursing losses of $250m.