Bloomberg The collapse of Skye Bank Plc is darkening the outlook for Nigeria’s other small lenders struggling to recover from the economy’s contraction two years ago, and threatening to derail the regulator’s ambitions of expanding the industry. The Central Bank of Nigeria revoked the lender’s license for failing to meet capital and liquidity thresholds since the authorities first intervened to ...

Bloomberg India’s troubled shadow bank Infrastructure Leasing & Financial Services Ltd., whose recent debt defaults sparked concern about contagion in the nation’s financial markets, has sought shareholder’s approval for a plan to revive the firm at the company’s annual general meeting on Saturday. The management aims to bring the group back to normalcy by selling shares through a rights issue, ...

Bloomberg China will maintain a neutral and stable monetary policy while also assuring reasonable and ample liquidity, the People’s Bank of China said in a statement on Saturday. China’s overall exchange rate and market expectations are stable, the bank said at its third-quarter meeting. The nation will continue to deepen its financial system reform, the PBOC said in its statement. ...

Bloomberg UK inflation pressures are likely to pick up even if the Bank of England’s forecasts for wage growth and productivity gains aren’t met, according to Deputy Governor Dave Ramsden. In a speech in London, Ramsden said that he’s on board with BOE’s collective view that limited and gradual increases are needed to control inflation. Labour market tightness and rising ...

Bloomberg US investor Bill Browder has presented evidence that Norwegian lender DNB ASA helped transfer $533,000 in Russian cash through accounts in Estonia and Lithuania, according to a Dagens Naringsliv (DN) report. Browder sent a complaint to Norway’s economic crime unit in 2016 and met with the authority in 2017, according to the newspaper. The cash was transferred by eight ...

Bloomberg As investors scrambled for more clarity on the Italian budget plan that roiled its markets, at least one thing was clear: Ten years after the financial crisis, the sovereign-bank “doom loop” still haunts Europe. A selloff that started in government bonds quickly spread to the debt and shares of the country’s lenders as investors latched onto a problem policy ...

Bloomberg Boeing Co. defeated Lockheed Martin Corp. to win its third prize in a recent flurry of defense contracts, snaring a US Air Force contest valued at as much as $9.2 billion to build training jets to hone the flying skills of future aviators. The 351 to 475 training aircraft and 120 ground-based training systems would be produced at Boeing’s ...

Bloomberg Kansai International Airport is planning to shut down its runways on Sunday as a powerful typhoon is expected to pass through the western Japan region. The airport’s operator said it will close two runways from 11 am local time on Sunday to 6 am on Monday, halting all takeoffs and landings. Train services also are expected to be impacted. ...

Bloomberg India’s struggling airlines are finding out there’s no end to their woes. Jet fuel, for which they already pay the world’s highest prices, just got dearer as Prime Minister Narendra Modi slapped a duty on imports as part of measures to arrest a slide in the rupee. Shares of Jet Airways India Ltd., SpiceJet Ltd. and InterGlobe Aviation Ltd. ...

Bloomberg Attention grocers: Aldi is coming for your customers. The German discount chain that’s blanketing the US with its no-frills stores was the choice of almost one in five shoppers who recently switched grocers, according to Morgan Stanley research. That’s more than Costco, Target, Kroger or Amazon-owned Whole Foods, highlighting Aldi’s growing appeal. Aldi’s US encroachment mirrors what it’s already ...