Buenos Aires / Bloomberg Argentina plans to sell as much as $8 billion in bonds that pay little to no interest as one of the options available for tax evaders seeking to repatriate money held abroad. Argentina will offer as much as $3 billion of three-year bonds that pay no interest and $5 billion of notes due in 2023 ...

  Bloomberg The Philippine central bank has slapped a 1 billion-peso ($21.3 million) penalty on Rizal Commercial Banking Corp. for violations of banking rules in connection with the $81 million theft of Bangladesh Bank reserves. The amount is the largest fine meted out to a lender by the Bangko Sentral ng Pilipinas, it said, without detailing the violations committed by ...

  Bloomberg New York’s top banking regulator asked Goldman Sachs Group Inc. to supply more information about its work for a Malaysian investment fund amid investigations into whether any money laundering, sanctions violations or other misconduct occurred. Maria Vullo, the head of New York’s Department of Financial Services, asked in a letter Thursday for a meeting with bank officials by ...

  Bloomberg Bank of America Corp., which spends about $1 billion a year handling cash, will save money and require fewer employees as more customers make payments electronically, Chief Executive Officer Brian Moynihan said. “This is just the reality: the more electronification, the less people,” Moynihan, 56, said in an interview on Bloomberg Television. “It’s the way we’ve gone from ...

  Bloomberg Ratings for Nova Ljubljanska Banka d.d., Nova Kreditna Banka Maribor d.d. and Abanka d.d may be raised by Moody’s Investors Service as Slovenia’s economy gathers strength, improving lenders’ funding conditions following a reduction in wholesale borrowing. All long-term ratings and rating inputs of Nova Ljubljanska and Abanka d.d. were placed on review for upgrade while the long-term deposit ...

  Bloomberg Societe Generale SA, France’s second-largest bank, reported second-quarter profit that beat analyst estimates, capping a string of positive results for the country’s lenders. Net income rose 8 percent to 1.46 billion euros ($1.6 billion) from a year ago, the Paris-based bank said in a statement. That beat the 1.36 billion-euro average estimate of six analysts compiled by Bloomberg. ...

  Bloomberg Southwest Airlines Co.’s board made no bones about its response to the labor groups that called for the ouster of two top executives: They’re not going anywhere. After the carrier’s four largest unions earlier this week called for Chief Executive Officer Gary Kelly and Chief Operating Officer Mike Van de Ven to step down, directors fired back in ...

  Bloomberg Wal-Mart Stores Inc. and e-commerce startup Jet.com Inc. are trying to close a $3 billion acquisition as soon as Monday that will require Jet founder Marc Lore to head the retailer’s online division for several years, according to people familiar with the matter. Lore would stay in that role for longer than the two-plus years he spent at ...

  Nairobi / AFP When Kenya Airways published the country’s worst-ever corporate results last month, the scale of the loss revealed the effects of several disastrous decisions that the national carrier is struggling to reverse. The airline’s “Pride of Africa” slogan rang uncomfortably hollow when the 26.22- billion-shilling ($259-million) loss was announced, driven by higher borrowing costs and unfavourable exchange ...

  Bloomberg Pete Pollinger and his wife, Julie, are relocating from Boca Raton to Melbourne, a city of about 70,000 on Florida’s Space Coast, named for its proximity to NASA rocket sites at Cape Canaveral and the Kennedy Space Center. They weren’t just hunting for a place to live. As they get ready to move this year, they’re also looking ...