Sydney / AFP ANZ Bank’s interim net profit slumped 22 percent on Tuesday on the back of impairment and restructuring charges, but the result was welcomed by the market as the lender repositions for a challenging future. The Australia and New Zealand Banking (ANZ) Group’s result for the six months to March 31 came in at Aus$2.73 billion (US$2.0 ...

  Bloomberg UBS Group AG said first-quarter profit dropped 64 percent, missing analyst estimates, as market turbulence eroded earnings at the wealth-management and securities units. The shares plunged. Net income declined to 707 million Swiss francs ($741 million) from 1.98 billion francs a year earlier, the Zurich-based bank said on Tuesday. That fell short of the 735 million-franc average estimate ...

  Bloomberg U.S. construction spending advanced in March to its highest level in more than eight years. Gains in home building and nonresidential construction offset a drop in government projects. Construction spending rose 0.3 percent in March after a 1 percent gain in February, the Commerce Department said on Monday. The back-to-back increases raised total spending to a seasonally adjusted ...