Bloomberg Wealthy people in Japan are turning to private jets in greater numbers as they seek to eschew crowded airports amid the ongoing coronavirus pandemic. The push means that ANA Holdings Inc.’s private jet charter business is expecting sales of 1 billion yen ($9 million) in the 2022 fiscal year, Jun Katagiri, the chief executive officer of ANA Business Jet …

Bloomberg Airbus SE shook up its senior leadership, with the heads of its defense and technology units set to leave the company. Dirk Hoke, chief executive officer of the defense and space division, will pursue other opportunities and depart on July 1, the European planemaker said in a statement. He will be succeeded by Chief Operating Officer Michael Schoellhorn. Chief …

Bloomberg GameStop Corp fell, wrapping up its longest losing streak in a year, amid growing skepticism over its long-term potential despite activist Ryan Cohen’s latest efforts to revitalise the company. Shares fell 11% in New York to close at $141.09, their lowest level in more than two weeks, as Reuters reported the video-game retailer is seeking a replacement for the …

Bloomberg UK sportswear chain JD Sports Fashion Plc said Brexit red tape has severely tested its operations and it’s opening new warehouses in the European Union to avoid the hassles of customs checks. The UK sportswear chain said duties and disruptions from customs checks mean it’s no longer enjoying “frictionless” trading. A new 65,000 square-foot warehouse near Dublin will become …

Bloomberg Bank of Montreal (BMO) agreed to sell its Europe, Middle East and Africa asset-management unit to Ameriprise Financial Inc. for $847 million, marking Chief Executive Officer Darryl White’s biggest move yet to trim the bank’s portfolio of non-core businesses. The sale includes the opportunity for some US clients to move to Ameriprise’s Columbia Threadneedle Investments unit, subject to their …

Bloomberg The 25 biggest US banks collectively reduced their loan holdings by 8% in the year through March, according to the Federal Reserve’s latest weekly survey. Total loans fall by $447 billion to $5.45 trillion, Fed data show. Meanwhile, total deposits, which provide the funds that banks lend out to borrowers, jumped 16% to $10.13 trillion. Their combined loan-to-deposit ratio …

Bloomberg Credit Suisse Group AG slashed the amount of money set aside for bonuses by hundreds of millions of dollars and used the savings to limit financial hit from the implosion of Archegos Capital Management, Financial Times (FT) reported. Cuts to bonus pool accruals and other one-off items added about $600 million to underlying profit before tax for the first …

Bloomberg The Bank of Japan (BOJ) is highly unlikely to deepen its negative interest rate without a fresh economic crisis on a massive scale, according to former board member Makoto Sakurai, whose term ended last month. “The BOJ didn’t lower rates” even at the height of the pandemic shock last year in March, Sakurai said in his first interview since …

Bloomberg Goldman Sachs Group Inc. is opening a new office in Birmingham, marking the investment bank’s second UK location outside London. The new building is set to open in the third quarter of 2021 and will eventually have several hundred staff across a number of divisions, the bank said in a statement on Tuesday. Engineering will be the first business …

Bloomberg India’s markets regulator fined Yes Bank Ltd. for claiming that riskier bonds it sold to individual investors were as safe as term deposits. Securities & Exchange Board of India ordered Yes Bank to pay $3.3 million after it “deliberately misrepresented” the Additional Tier 1 notes, “by suppressing the inherent risks of these bonds and distorting facts to mislead their …