Bloomberg About one in 10 of China’s 4,000 banks received a fail rating in the central bank’s first review of the industry’s risks, highlighting challenges facing the nation’s $45 trillion financial system. Four hundred and twenty firms, all rural financial institutions, were deemed extremely risky after scoring eight or higher out of 10, according to the 2018 China Financial Stability ...

Bloomberg With India’s central bank emerging as the biggest buyer of government debt, some traders are calling time on a rout that’s lasted more than a year and sent benchmark yields soaring to a four-year high. The Reserve Bank of India bought 860 billion rupees ($11.8 billion) of bonds between May and October, and plans to inject 400 billion rupees ...

Bloomberg New Zealand banks have been ordered to take steps to reduce the risk of bad behaviour, including scrapping all incentives linked to sales. In a report on bank culture and conduct released on Monday by the Reserve Bank and the Financial Markets Authority, the regulators said they identified “significant weaknesses in the governance and management of conduct risks” that ...

Bloomberg The Lion Air plane that crashed last week had faulty airspeed readings during its last four flights, Indonesia said, asking Boeing Co. to take corrective measures on the aircraft to prevent similar accidents. Indonesia’s National Transportation Safety Committee is collecting data related to the recovery efforts made during the prior malfunctions, the agency said in a statement on Monday, ...

Bloomberg Did Michael Kors Holdings overpay for Versace? The market said yes, but some analysts see something different. The stock got two upgrades in the past two days, with analysts at UBS Group AG and Piper Jaffray both citing the potential for Versace to drive gains after the stock was punished for the $2.2 billion acquisition in late September. Michael ...

Bloomberg South African Airways is working to find ways to roll over 9.2 billion rand ($642 million) of debt by March as the loss-making state-owned carrier works to make more routes profitable, Chief Executive Officer Vuyani Jarana said. While gross profit margins were negative on most routes when he started a year ago, domestic and regional routes are now making ...

Bloomberg The hedge funds that now own the Toys ‘R’ Us brand plan to relaunch the toy retailer as a standalone operation next year, according to people familiar with the matter. Solus Alternative Asset Management and Angelo Gordon will look to raise capital to help revive the chain, which closed its last stores at the end of June, and are ...

Bloomberg Kraft Heinz Co. shares sank in late trading on Thursday after the packaged-food company posted quarterly profit that missed estimates, dragged down by sluggish sales growth and higher costs. Earnings per share were 78 cents in the quarter, excluding some items, trailing the average analysts’ estimate of 81 cents. Adjusted EBITDA in the key US region was down 16 ...

DUBAI / WAM Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, has recorded a growth in net profit of 9 percent during the first nine months of the year to AED1.639 billion ($446 million), compared to the same period in 2017 at AED1.507 billion ($410 million). Revenue for the first nine months of the year was ...

ABU DHABI / WAM Non-resident deposits acr-oss UAE’s banking system reported solid growth during first nine months of ye-ar, with their growth outst- ripping retail loans provided to non-residents by AED63 billion by end of Q3. The expansion in banks’ holdings of deposits corroborates investor confidence in the UAE banking sector, reckoned the first in the region in terms of ...