Bloomberg HSBC Holdings Plc will pay $765 million to settle allegations that it sold defective residential mortgage-backed secur- ities, resolving one of the last remaining US investigations stemming from the mortgage melt- down a decade ago. The sum, announced by US Attorney Bob Troyer in Colorado, is substantially lower than the billions paid by other banks to resolve misconduct linked ...

Bloomberg As the money laundering scandal engulfing Danske Bank A/S threatens to taint other Nordic lenders, Nordea Bank Abp says it has spent years getting rid of suspicious customers in a move designed to dramatically reduce its exposure to such risks. Julie Galbo, chief risk officer at the Helsinki-based bank, said in a phone interview that she can’t rule out ...

Bloomberg The worst run of rupee losses in 16 years is set to extend. Only this time, the declines might not be triggered by oil but by the surprise move by India’s central bank to hold rates despite the currency’s free fall. The rupee, which has fallen for six straight months in the longest stretch since 2002, is seen sliding ...

Bloomberg Aerospace and innovation have gone hand-in-hand since the days of Orville and Wilbur Wright. Airplanes were once simple metal tubes powered by propellers. Long-haul flying meant four engines and at least three pilots on the flight deck at all times. Today, aircraft only require two pilots and are built mostly of carbon composites. Even on the longest routes—more than ...

Bloomberg American Airlines Group Inc. tumbled to the lowest in more than two years amid doubts over whether recent fare gains will be enough to cover the upward trek of oil prices. The carrier’s average cost of jet fuel rose to as much as $2.33 a gallon in the third quarter, up from an earlier forecast of $2.27 or less, ...

Bloomberg Ikea plans to expand to about a dozen new markets in the coming years, including branching into South America, as the Swedish furniture giant aims to reach a total of 3 billion potential customers by 2025. The company will in the coming years open stores in Chile, Colombia and Peru through a new Ikea franchisee called Falabella as part ...

Bloomberg Boeing Co delivered 61 of its highly profitable 737 jetliners in September, up from 48 a month earlier, taking a step towards recovery from supply shortages that disrupted production at a Seattle-area factory. The increase shows progress in Boeing’s effort to smooth manufacturing problems. The planemaker brought in 600 mechanics to help tackle out-of-sequence work that left dozens of ...

Bloomberg TUI AG, the world’s biggest holiday company, plans to renew its jetliner fleet as rising oil prices begin to push weaker rivals to the wall. TUI is likely to turn options for close to 50 Boeing Co. 737 Max aircraft into firm purchases, giving it a total of 120 orders for the upgraded model, and is switching to more ...

HODEIDAH / WAM The Emirates Red Crescent (ERC) intensified its humanitarian, relief and development efforts in the liberated governorates and cities of Yemen last week, to answer the needs of the Yemeni people, in light of their difficult humanitarian conditions. The ERC is also working to make the Yemeni youth happy and achieving their dreams of family stability, through its ...

Bloomberg The International Energy Agency (IEA) made a direct appeal to OPEC and other major oil producers to boost output, warning that high prices are inflicting damage on the global economy. “We should all see the risky situation, the oil markets are entering the red zone,” IEA Executive Director Fatih Birol said. “Expensive energy is back at a bad time, ...