Dubai / Reuters Oman’s Bank Dhofar, in talks with Bank Sohar on a possible merger, said on Sunday that it communicated the terms for a deal to its smaller rival after completing due diligence. Bank Dhofar, the sultanate’s second-largest lender by assets, said the financial and legal due diligence concluded on April 23, it said in a bourse statement. ...

  Bloomberg Citigroup Inc., Bank of America Corp. and Comerica Inc. should move faster to restructure, including selling more assets, to catch up with competitors that are generating better returns, CLSA Ltd.’s Mike Mayo said. “All three of those banks have failed to create value for every year for the last eight years,” the analyst said. “So our question for ...

  Vienna / Reuters The euro zone needs negative interest rates to avoid sliding into deflation, European Central Bank (ECB) Governing Council member Ewald Nowotny said in an Austrian newspaper interview, defending the policy against widespread criticism in Germany. The ECB kept the cost of borrowing for banks at zero on Thursday and will continue to charge them 0.4 percent ...