Bloomberg The operations of Saigon Commercial Bank, which faced days of panicked customers pulling out their savings, are ‘stable’ and some clients are now returning to deposit money, according to Vo Minh Tuan, head of the central bank’s Ho Chi Minh City branch. “SCB’s situation has become more stable now as the number of people coming in to withdraw …

  Bloomberg On the face of it, it was almost a good week for Credit Suisse Group AG, the stock recording its biggest gain in two years. But that glosses over a rollercoaster ride that saw the cost to insure its debt against default surge to a record, amid speculation about how the bank might finance its long-awaited restructuring. The …

  Bloomberg Yes Bank Ltd., the Indian bank that almost collapsed two years ago from bad loans, is now on a hunt to buy stressed assets from other lenders. A new partnership with US private-equity firm JC Flowers & Co. LLC allows it to buy soured loans of other banks, Prashant Kumar, chief executive officer of the Mumbai-based lender, said …

  Bloomberg Royal Bank of Canada (RBC) expects to gain more market share in UK wealth-management business in the years ahead, with its technological capabilities key to attracting clients. Canada’s largest bank has completed its $1.8 billion acquisition of Brewin Dolphin, vaulting its wealth-management operation to the No. 3 spot in the UK and Ireland. Still, the industry in the …

  Bloomberg UK bonds tumbled while the pound rose as investors digested a deeply uncertain policy outlook from both the Bank of England (BOE) and Liz Truss’s government. The yield on 30-year gilts — favoured by the pension funds at the heart of recent market stress — rose as much as 22 basis points to 5.02% after a BOE spokesperson …

  Bloomberg ByteDance Ltd. is offering to buy back shares from its employees, ramping up efforts to boost staff morale after plans for an initial public offering stalled. The Beijing-based company, parent of the hit TikTok video app, informed employees on Wednesday that it will repurchase shares at a price of $155 per restricted stock unit to help those who …

Bloomberg Oil slumped as concerns over a global slowdown and weaker demand vied with a tightening supply outlook after Opec+ cut output. West Texas Intermediate traded near $90 a barrel, after earlier falling as much as 2.9%. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the US and global economies are likely to sink into recession next year, …

  Bloomberg When Mike Newman started to hear warnings earlier this year about delays at ports on the US West Coast because of labour negotiations, the threat of more supply-chain chaos “became the last straw for us.” So the chief executive officer of New York-based Returnity Innovations moved about two-thirds of his production of reusable shipping bags and boxes to …

Bloomberg Airbus SE jetliner handovers increased in September, while remaining short of the monthly average needed to reach an already downgraded year-end goal. The planemaker delivered 55 aircraft, up from 39 in August, it said, confirming a Bloomberg report. That takes net tally to 435, meaning it must ship an average 88 per month to hit the annual target of …

  Bloomberg The US Air Force said it will take an additional 19 months for Boeing Co. to start installing an improved version of the flawed camera-based refuelling system on its KC-46 refuelling planes, according to the service. “After thoroughly evaluating all the data and assumptions that went in to the current schedule” the Air Force and Boeing determined that …