Bloomberg IndusInd Bank Ltd, backed by the billionaire Hinduja brothers, denied allegations that its unit was providing new loans to customers to keep their existing debt from souring, a practice known as “evergreening.” The bad loan recognition process is fully automated in accordance with the regulatory norms, the bank said in an exchange filing. It was responding to a media ...

Bloomberg Argentina’s peso rises in the spot market for first time in 12 months after central bank ordered financial institutions to maintain their foreign currency holdings steady through to the end of the month, forcing some to sell dollars. The peso strengthened 0.02% to 99.94 to the dollar, even as central bank bought $210 million, the most greenbacks it has ...

Bloomberg Canada’s six biggest banks could raise their dividends by about 18% on average and still be able to buy back almost 2% of their shares now that regulators are allowing them to unleash capital they’d stockpiled during the pandemic. National Bank of Canada and Bank of Montreal would have the largest percentage increases in their dividends, assuming they return ...

Bloomberg Warren Buffett has spent more money buying back Berkshire Hathaway Inc.’s stock in recent years than he did amassing his biggest equity bet on Apple Inc. Berkshire spent nearly $20 billion more repurchasing its own stock since the middle of 2018 than it deployed accumulating its Apple stake through the end of last year. In total, Buffett poured about ...

Bloomberg After this year’s record-setting rally in equities, the list of things that could go wrong in 2022 is getting longer. From slower earnings and economic growth to surging inflation that could prompt central banks to tighten policies too quickly, stock investors face plenty of risks. That’s making some of Wall Street’s top brokers more cautious. Bank of America Corp ...

Bloomberg British Airways parent IAG SA said cash flows turned positive in the third quarter and that North Atlantic demand has begun to surge as the US prepares to reopen its border to vaccinated Europeans next week. Long-haul bookings are now recovering faster than short-haul sales, with the premium leisure segment performing particularly strongly at BA and Spanish arm Iberia, ...

Bloomberg Wizz Air Holdings Plc said it will cut fares at the expense of profitability in a bid to pack planes and grab market share as European travel demand rebounds. The low-cost carrier posted a second-quarter profit but forecast a 200 million-euro ($232 million) operating loss for the current three months that “may carry over” into early 2022. Wizz, already ...

Bloomberg Boeing Co directors agreed to a $237.5 million settlement of claims they turned a blind eye to safety issues related to 737 Max jetliners whose crashes have cost the company more than $20 billion, according to court documents. The settlement, which is being paid by insurers covering Boeing’s directors and executives, will be handed over to the company rather ...

Bloomberg Selfridges & Co held discussions with potential investors about splitting off its e-commerce business while also considering a potential sale of the department store group, according to people familiar with the matter. The luxury emporium, best known for its giant department store on London’s Oxford Street, considered spinning off Selfridges.com from its lucrative property holdings, which are far larger ...

Bloomberg Bed Bath & Beyond Inc soared in late trading after announcing accelerated share buybacks and the launch of a new digital marketplace for merchandise from third-party producers. The company said it expects to complete its $1 billion share repurchase plan by the end of its fiscal year in February — two years ahead of schedule. There is $400 million ...