Bloomberg South Korea’s Financial Supervisory Service (FSS) is probing $3.4 billion worth of “abnormal” foreign-exchange transactions at two of the country’s largest commercial banks for possible links to illegal crypto-related activities. Unusual transactions totalling 1.6 trillion won ($1.3 billion) took place at five branches of Woori Bank between May 3, 2021 and June 9 this year, the regulator said ...

  Bloomberg UniCredit SpA posted second-quarter profit that almost doubled analyst expectations, prompting the lender to lift its full-year target in anticipation of further gains from rising interest rates in Europe. Net income was 2 billion euros ($2 billion), compared with the 1.02 billion euros estimated by analysts. Above-expectation revenues, the absence of fresh loan-loss provisions, and the performance of ...

  Bloomberg Westpac Banking Corp will slash oil and gas as well as cement industry lending by 2030 as it joins an initiative to reduce emissions. The lender will aim for a 23% reduction in scope one, two and three emissions by 2030 from firms involved in oil and gas exploration, extraction or drilling, Westpac told investors. It will also ...

Bloomberg Alibaba Group Holding Ltd may attract at least $16 billion of Chinese money by shifting to a primary listing in Hong Kong, strategists say, getting a much-needed boost as its stock struggles to bottom out. The move paves the way for the e-commerce giant to be included in the city’s trading links with mainland bourses, allowing an influx of ...

  Bloomberg Stocks and US equity futures rallied on Wednesday as a batch of resilient company earnings helped alleviate some of the wider caution in markets ahead of a pivotal Federal Reserve monetary-policy meeting. Contracts on the tech-heavy Nasdaq 100 were up about 1.7%, while major technology and internet stocks advanced in premarket trading after reassuring reports from Alphabet Inc, ...

  Bloomberg Walmart Inc cut its profit outlook again in a surprise warning weeks ahead of its earnings report, sending retailer shares tumbling and raising new questions about US consumers’ ability to sustain their voracious spending habits with inflation at a four-decade high. Adjusted earnings per share will fall as much 13% in the current fiscal year as US shoppers ...

Bloomberg EasyJet Plc said disruption to travel driven by staff shortages, soaring demand and caps on airport capacity forced it take a £133 million charge in the fiscal third quarter, while stating operations would now be smoother over the peak summer period. The UK low-cost carrier still operated 95% of its planned schedule in the three months through June despite ...

  Bloomberg London Heathrow airport said airlines need to hire ground staff more aggressively to help overcome persistent travel disruptions, warning that a cap on flights to ease the chaos might have to stay in place for at least another year. “This is not going to be a quick fix,” CEO John Holland-Kaye said. “It’s absolutely possible that we could ...

Bloomberg Deutsche Lufthansa AG’s ground-crew union called a strike for Wednesday, escalating a crisis at Europe’s biggest airline after staffing shortages caused thousands of flights to be cancelled earlier in the summer. The Verdi labour group called for members to take part in industrial action at Lufthansa’s German airport bases, a move that could see check-in personnel and other staff ...

  Bloomberg Regulators are directing US operators of Boeing Co 777 widebody jets to repair aircraft to address concerns about potential fuel-tank explosions, according to a filing. A proposed airworthiness directive from the US Federal Aviation Administration (FAA) calls for operators to inspect the jets and install Teflon sleeves and cap fasteners to certain parts of the centre, left and ...