AFP France’s biggest insurer Axa has lowered its earnings target for the next few years and is seeking to cut costs as low interest rates take their toll on the industry’s profits. Axa, which is to unveil its new strategic plan Tuesday, said it now eyed an average annual increase in underlying earnings per share of between 3 and ...

  Bloomberg China’s central bank said it has met with onshore lenders to discuss allowing them to trade in the offshore yuan market, a move that would accelerate convergence between the country’s two exchange rates. As the country increasingly opens up its currency market, Chinese commercial banks have a growing need for better integration between the onshore and offshore markets, ...

  Bloomberg Scandinavia’s biggest bank said it has more than enough capital to meet regulatory requirements following a report it may need to turn to markets to fill an alleged shortfall. Nordea Bank AB said on Tuesday it had a common equity Tier 1 capital ratio of 16.7 percent in March, exceeding the 15.6 percent requirement set by the Financial ...