Bloomberg UK sportswear chain JD Sports Fashion Plc said Brexit red tape has severely tested its operations and it’s opening new warehouses in the European Union to avoid the hassles of customs checks. The UK sportswear chain said duties and disruptions from customs checks mean it’s no longer enjoying “frictionless” trading. A new 65,000 square-foot warehouse near Dublin will become …

Bloomberg Bank of Montreal (BMO) agreed to sell its Europe, Middle East and Africa asset-management unit to Ameriprise Financial Inc. for $847 million, marking Chief Executive Officer Darryl White’s biggest move yet to trim the bank’s portfolio of non-core businesses. The sale includes the opportunity for some US clients to move to Ameriprise’s Columbia Threadneedle Investments unit, subject to their …

Bloomberg The 25 biggest US banks collectively reduced their loan holdings by 8% in the year through March, according to the Federal Reserve’s latest weekly survey. Total loans fall by $447 billion to $5.45 trillion, Fed data show. Meanwhile, total deposits, which provide the funds that banks lend out to borrowers, jumped 16% to $10.13 trillion. Their combined loan-to-deposit ratio …