Bloomberg ANZ Bank New Zealand said the country’s Overseas Investment Office has declined the application of China’s HNA Group to acquire UDC Finance. “While the sale agreement between the parties remains in place, unless HNA successfully overturns the OIO decision, the sale will not proceed,” ANZ New Zealand Chief Executive David Hisco said in a statement. “We don’t know if ...

Bloomberg Bank of America Corp. Chief Executive Officer Brian Moynihan said the lender is pushing to deepen some of the busin-ess it conducts in China as the world’s No. 2 economy opens further to foreign investment. The US bank is working towards “local incorporation” in China so that it can more easily help firms there sell debt, Moynihan said in ...

Bloomberg Bombardier Inc. is scaling back plans to begin a new aircraft programme, preferring instead to focus on generating cash flow and whittling down about $9 billion in debt, said Chief Executive Officer Alain Bellemare. “Over the past few years there was an overinvestment in aerospace,’’ Bellemare said in an interview. “We don’t want to jump and launch an investment ...