Bloomberg European Central Bank policy maker Peter Praet said he doesn’t believe President Mario Draghi intended to send a new signal when he said the pickup in underlying euro-area inflation is “relatively vigorous.” The euro slid after Praet, the ECB’s chief economist, made the remarks in London on Tuesday. The single currency jumped the previous day when Draghi spoke at ...

Bloomberg Danske Bank A/S faces more penalties from the financial regulator as multiple probes into one of Europe’s biggest money laundering scandals get under way, according to Denmark’s government. The Danish Financial Supervisory Authority already forced Danske to add almost $800 million to its capital burden back in May, in response to earlier signs of laundering breaches. Business Minister Rasmus ...

Bloomberg Deutsche Bank AG is open to a merger once the lender has boosted its profitability over the next 18 months, Chief Executive Officer Christian Sewing said. “We have a very clear plan to remain a global bank, but we have to work on profitability now,” Sewing said at an event in Berlin. “If that happens, we can talk about ...

Bloomberg India’s Infrastructure Leasing & Financial Services Ltd. has sought to shield itself from being dragged to bankruptcy court as it tries to restructure its borrowings in the wake of a string of defaults that have sent shock waves through local markets. The company, which has missed more than five debt payments since August, filed an application with the National ...

Bloomberg After coming out all guns blazing, Nigeria’s central bank surrendered more ground in its tussle with MTN Group by giving a reprieve to one of the banks accused of illegally moving $8.1 billion out of the country. Standard Bank Group Ltd. said that the Central Bank of Nigeria won’t take more than $2.63 billion from the accounts of its ...

Bloomberg The UK warned that flights may be grounded if the European Union doesn’t grant reciprocal approvals to its planes and airlines in the case of a no-deal Brexit — a scenario it maintains remains unlikely, despite a recent setback in negotiations. Britain will continue to recognise European Aviation Safety Agency certifications for up to two years after March 29, ...

Bloomberg Sears Holdings Corp. is reviewing a proposal by Chief Executive Officer Eddie Lampert to keep the retailer alive by restructuring its debts and selling real estate. Plans outlined in regulatory filings include cutting debt by about 78 percent to $1.2 billion and extending near-term maturities, with annual interest savings of 80 percent. The proposal came from ESL Investments Inc., ...

Bloomberg Unilever is campaigning to convince a growing number of dissenting UK shareholders that the company’s plan to consolidate its headquarters in the Netherlands has merit. The Anglo-Dutch consumer giant’s move to Rotterdam will have “great benefits” for UK investors, Chief Financial Officer Graeme Pitkethly said in a Tuesday interview with the BBC Radio 4 station, noting that they would ...

Bloomberg New Jersey lawmakers gave preliminary approval to a jet-fuel tax that would force United Continental Holdings Inc. to pay for expanded passenger rail at Newark Liberty International Airport. Airlines are exempt from the state’s gross-receipts tax on petroleum products, with the exception of the fuel used during taxiing and take-off. A bill approved by the Senate budget committee would ...

Bloomberg Next Plc raised its sales and profit outlook for the year, a rare bright spot in a season of woe for UK retailers struggling against soaring summer temperatures and the threat of Amazon.com Inc. The apparel chain had warned in August that a boost to summer sales in early summer would wane as the season dragged on. Instead, the ...