Bloomberg Job cuts announced by banks this year are approaching 60,000, almost all of them in Europe, where negative interest rates and a slowing economy prompt lenders including Germany’s Commerzbank AG to step up cost reductions. Commerzbank said it plans to eliminate 4,300 positions, deepening a restructuring that started three years ago. That brings the total disclosed this year to …

Bloomberg Goldman Sachs Group Inc’s most senior female banker is getting a promotion as Chief Executive Officer David Solomon continues reshaping leadership teams across the firm ahead of his first anniversary in the top job. Alison Mass, who has been responsible for cultivating the bank’s relationships with top buyout shops and multinational firms, was named chairman of the investment-banking division, …

Bloomberg HSBC Holdings Plc won its court fight against a 33.6 million-euro ($37 million) European Union antitrust fine for conspiring with other banks to rig the Euribor benchmark, raising questions about whether the fines slapped on other institutions will hold on appeal. While the judges at the EU’s General Court agreed that HSBC infringed competition, they annulled the fine for …

Bloomberg Last week’s turmoil in money markets raises questions about the appropriate level of bank reserves in the financial system, Federal Reserve Bank of New York President John Williams said. It is “important that we examine these recent market dynamics and their implications for the liquidity needs in relation to the overall amount of reserves held at the Federal Reserve,” …

Bloomberg Australia’s central bank chief Philip Lowe reiterated that his economy is at a “gentle turning point” and gave little indication that an interest-rate cut was in the immediate offing, potentially disappointing economists expecting one within days. “At our board meeting next week, we will again take stock of the evidence,” the Reserve Bank governor said in the text of …

Bloomberg US equity-index futures advanced with European stocks while Asian shares rose modestly as investors weighed hopes for high-level trade talks next month between America and China against mixed economic data from around the globe. The pound rose after a court ruling key to Brexit. Contracts on the three main US equity benchmarks all pointed to a firm open after …

Bloomberg Some of the Philippines’ top money managers see central bank easing and low inflation pushing the nation’s equity benchmark back above the key 8,000 level. The Philippine Stock Exchange Index has retreated 5.8 percent since riding a bull market to as high as 8,365.29 on July 15. The gauge has breached the 8,000 mark about a dozen times this …

Bloomberg The top US aviation regulator briefed his counterparts from around the world on the grounded Boeing Co 737 Max, reminding them that improvements in both aircraft design and piloting are needed for safety. Newly installed FAA Administrator Steve Dickson pledged in his opening statement to continue sharing information as the agency assesses Boeing’s proposed fixes for a flight-control system …

Bloomberg Vietnam’s Bamboo Airways expects to raise about $100 million from its planned initial public offering next year to fuel its aggressive expansion in one of the world’s fastest-growing aviation markets. “The fundraising will help us to expand our fleet as we want to take 30 percent of the domestic market next year,” Trinh Van Quyet, the Hanoi-based chairman of …

Bloomberg Cathay Pacific Airways Ltd said it fired two crew members at a unit as part of an investigation into why depleted emergency oxygen bottles are turning up on its flights. Cathay Dragon detected an emergency oxygen bottle in a “low-pressure state” on a September 21 flight to Hong Kong from Kuala Lumpur, it said in a statement. All cabin …