Bloomberg Laurentian Bank of Canada, claiming traditional banking is becoming “obsolete,” will merge 50 branches and eliminate about 300 positions in the next 18 months as part of a restructuring. Laurentian must evolve to meet the changing needs of customers, who have reduced branch visits, the Montreal-based lender said Wednesday in a statement. Increased economic and regulatory hurdles, along ...

  Bloomberg Credit Suisse Group AG is seeking to secure a key banking license in Saudi Arabia as part of plans to expand in the kingdom. The Zurich-based bank, which has a securities and equities business in the country, is in talks with the central bank for an onshore license, Iqbal Khan, head of the bank’s international wealth-management business, said ...

  Brussels / AFP The IMF raised its growth forecast for the eurozone on Tuesday, but warned of uncertainty due to the still unknown consequences of Brexit and damage caused by low inflation. The IMF edged up the growth forecast for the 19 nation currency bloc to 1.7 percent in 2016, from an earlier 1.6 percent, citing low oil prices ...