Bloomberg New Zealand’s banking sector doesn’t share the cultural problems that are coming to the surface at an inquiry into misconduct in Australia’s financial industry, Reserve Bank Governor Adrian Orr says. “The true problem and challenge going on in Australia is cultural,” Orr said in an interview on Television New Zealand’s Q+A. New Zealand bank culture “is infinitely better than ...

Bloomberg For years, Republican lawmakers and regulators have groused about big corporate fines, arguing that they mostly punish blameless shareholders, not the executives who are responsible for misconduct. Then President Donald Trump tweeted his ire about Wells Fargo & Co. and — at least in the case of the embattled bank — the GOP is singing a different tune. Watchdogs ...

Bloomberg US aviation regulators ordered emergency inspections of one of the world’s most popular jet engines after the fatal accident this week on a Southwest Airlines Co. plane. The Federal Aviation Administration (FAA) order covers an estimated 352 CFM International Inc. engines in the US that have made at least 30,000 flights, the agency said in a statement. The emergency ...