Bloomberg Unione di Banche Italiane (UBA) SpA, Italy’s fifth-largest bank, plans to pay out 40% of net income to shareholders on average over the course of its three-year strategic plan and may make an extra payment if capital is strong enough. UBI expects to eliminate about 2,030 positions and close 175 branches through 2022, the Bergamo, Italy-based bank said. That’s …

Bloomberg The International Monetary Fund (IMF) is sending a small mission to Ukraine for talks on economic expansion as the government struggles to finalize a $5.5 billion loan. The team will visit Ukraine “for technical discussions on policies to achieve stronger growth and safeguard stability,” IMF resident representative in Ukraine Goesta Ljungman said. No time frame for the visit was …

Bloomberg The Federal Reserve’s mass purchases of Treasury bills is creating distortions in money markets and that may make it harder for Eurodollar traders who bet on the interest-rate outlook. What started as an attempt by the Fed to relieve strains in money markets is having an unintended impact on some of the world’s most important borrowing benchmarks. As the …

Bloomberg First it was the Federal Reserve. Then the European Central Bank (ECB). Now, India’s monetary authority may look to the Bank of England (OBOE)for ideas to revive growth, economists say. The Reserve Bank of India (RBI) could possibly draw inspiration from BOE’s Funding for Lending Scheme to jump start loan growth in the economy that’s set for its weakest …

Bloomberg European equities are trading at fresh record highs, and JPMorgan Chase & Co strategists say the rally can go on and even expand to markets that have been left behind. The Stoxx Europe 600 Index closed at a historical peak last week after earnings optimism outweighed spreading coronavirus fears. To JPMorgan strategists, the fact that the European benchmark has …

Bloomberg US equity-index futures fell along with European stocks on Tuesday after Apple Inc said quarterly sales would miss forecasts, spooking investors who had hoped for a limited economic impact from the deadly coronavirus. Treasuries rose as American markets re-opened after a holiday. Contracts on the three major US equity benchmarks dropped, with Apple shares slumping as much as 4.2% …

Bloomberg India’s stock benchmark declined for a fourth straight day, with disruptions from the coronavirus outbreak clouding the outlook for an economy already facing its weakest expansion in 11 years. The S&P BSE Sensex Index fell 0.4% to close at 40,894.38 in Mumbai, its longest losing streak in more than four months, after sliding as much as 1.1%. The NSE …

Bloomberg Binance Holdings Ltd, operator of one of the world’s largest crypto exchanges, has applied for an operating license in Singapore under the government’s new payments legislation. “We have already applied,” Binance co-founder and CEO “CZ” Zhao Changpeng said in a phone interview. “We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local …

Bloomberg With just one business left, Bombardier Inc has officially declared its selling spree over. The Montreal-based company, which once made everything from snowmobiles to commercial aircraft, will focus solely on corporate jets following its announcement of two separate deals to sell off parts of its business in less than a week. And with the proceeds earmarked towards reducing a …

Bloomberg Vietnam’s Bamboo Airways expects to buy 12 Boeing Co. 777X jumbo jets in the second quarter, according to chairman Trinh Van Quyet, in what would be a multi-billion-dollar boost for the US planemaker after it failed to win a single order for any of its aircraft in January. A deal that size would be valued at almost $5 billion …