MADRID / AP A union representing bank workers says Spain’s biggest bank is planning to lay off 1,200 workers as part of a restructuring plan that will also shutter more than 400 branches. The UGT union says Banco Santander SA’s plan calls for half of the employees to take early retirement and receive 70 percent of their annual pay. UGT …

BLOOMBERG Chase Bank Kenya Ltd. shareholders are committed to recapitalising the lender placed under receivership to re-open the institution “as quickly as possible,” the central bank Governor Patrick Njoroge said. The closely held East African lender went into statutory management on Thursday to protect it from its creditors a day after two executives stepped down following the restatements of its …

Bloomberg Singapore Airlines Ltd. raised its stake in Virgin Australia Holdings Ltd. a week after future ownership of the A$1.3 billion ($987 million) airline was put in doubt. The Singapore carrier increased the shareholding to 23.11 percent from 22.91 percent, it said in a statement. The airline said it paid A$3.18 million to settle a series of equity swaps, or …