BLOOMBERG National Australia Bank (NAB) is planning to close its Hong Kong office and consolidate operations into mainland China, Singapore and Japan. The closure of the office will take place over the next 18 months, Krista Baetens, a Singapore-based NAB executive, said in a statement. The Australian Financial Review earlier reported the decision, saying the office houses about 50 staff ...

BLOOMBERG Laurentian Bank of Canada ended its strategic review without finding a buyer and plans to carry on as an independent firm with a slimmer management team. The company’s shares plunged. The Canadian bank announced in July it was examining its options. It hired JPMorgan Chase & Co to run the process and considered a number of possibilities, including a ...

BLOOMBERG Toyota Motor Corp’s quarterly profit exceeded estimates as improvements in supply of semiconductors and a weak yen helped it capitalise on a global rebound in demand for vehicles. The stock closed at a record high. Operating profit for the three months through June was a record ¥1.1 trillion ($7.7 billion), the world’s No 1 carmaker said in a statement. ...