Bloomberg Malaysia Airlines Bhd said air travel demand will remain subdued and it expects a full recovery after the end of 2023, amid a resurgence of Covid cases in many countries. The national flag carrier has cut more than 1,500 jobs and plans to reduce capacity further as part of the restructuring it began in October, CEO Izham Ismail said ...

Bloomberg A coalition of airline and travel groups urged the US and the UK governments to lift travel restrictions between the two nations, citing the growth in vaccinations and other tools that limit the spread of Covid-19. Officials should announce reopening before the Group of Seven economic talks scheduled for June, the groups said in joint letters to President Joe ...

Bloomberg Australia’s central bank will maintain its highly supportive policy settings despite surging growth and falling unemployment, as it faces up to the even bigger challenge of lifting wages and inflation from record lows. Reserve Bank of Australia Governor Philip Lowe is set to keep interest rates and three-year yield target unchanged at 0.10%, while maintaining the current pace of ...

Bloomberg Bank of America Corp (BofA) is devoting more resources to fighting cyber attacks after seeing a jump in threats amid the pandemic. The company’s centralised global information-security unit has boosted spending in recent years to about $1 billion annually, according to chief operations and technology officer Cathy Bessant. That’s mostly allocated to staff and technology to bolster cyber defenses. ...

Bloomberg Credit Suisse Group AG Chairman Antonio-Horta Osorio bought 1.1 million francs ($1.2 million) of shares in a sign of confidence he can turn the bank around from one of the most turbulent periods in its history. An undisclosed board member bought the stock, according to a Swiss stock exchange filing dated May 3. A spokesperson for the bank confirmed ...

Bloomberg Yes Bank Ltd, once at the center of India’s biggest financial bailout, will turn its focus on boosting lending to businesses this year after succeeding in winning back depositors, Chief Executive Officer Prashant Kumar said. Regaining depositors and raising capital were first order of business for Kumar, who took over the reins of Yes Bank in March 2020 after ...

Bloomberg Westpac Banking Corp’s half-year profit climbed as a continued recovery in the nation’s economy drove a further reduction in pandemic loan-loss provisions at Australia’s second-largest lender. Cash earnings rise to A$3.5 billion ($2.7 billion) in the six months through March 31, compared with A$993 million in the same period a year earlier, the Sydney-based bank said in a statement. ...

Bloomberg Bank of Nova Scotia agreed to acquire an additional 7% stake in its Chile operations from the Said family for about C$500 million ($400 million), putting to work some of the excess capital it has built up during the Covid pandemic. The purchase, which is subject to regulatory approvals and other conditions, would boost its ownership of the operation ...

Bloomberg India’s sharp surge in Covid-19 cases will not prevent the country’s markets from setting a record for initial public offerings (IPOs) in 2021, as a cohort of technology companies make their much-anticipated debuts later in the year, according to UBS Group AG. Last year companies amassed $4.6 billion from IPOs, according to data compiled by Bloomberg, and Anuj Kapoor, ...

Bloomberg South Korea lifted what was the world’s longest ban on short-selling, and foreign traders piled in. Overseas investors accounted for 90.7% of total daily shorts by value in Kospi, betting against 738 billion won ($659 million) worth of stocks, according to the Korea Exchange. They rushed in again, making up 86% of bearish bets. That’s well above the 59% ...