Bloomberg Citigroup Inc. is planning to promote bankers Tyler Dickson and Manolo Falco to run a reconstructed version of its investment banking operations, people familiar with the plan said. The lender was expected to announce the plan on September 6 to combine its corporate and investment bank with its capital markets origination business, the people said, declining to be identified ...

Bloomberg Two more of Australia’s big banks have raised home loan rates as funding costs climb, heaping additional pressure on indebted households. Commonwealth Bank of Australia, the nation’s biggest mortgage lender, and Australia & New Zealand Banking (ANZ) Group Ltd. both raised their key standard variable mortgage rate, joining Westpac Banking Corp., which was the first of the big four ...

Bloomberg Regulators need to increase their scrutiny of non-bank firms that are moving into the financial business, according to the chief executive officer of DBS Group Holdings Ltd., Southeast Asia’s largest lender. “Absolutely,” Piyush Gupta said when asked at a Bloomberg forum in Singapore whether more regulation is needed for technology and other firms that are competing with traditional banks ...

Bloomberg Stifel Financial Corp. is expanding its leveraged finance business as the firm seeks to grow in a hot corner of the credit markets. The St. Louis-based financial firm is building a new unit that will arrange and sell loans and bonds for junk-rated companies. It plans to use its own capital to underwrite deals, according to a statement seen ...

Bloomberg Britain’s Civil Aviation Authority (CAA) is stepping up efforts to ensure that airlines and aerospace companies can carry on functioning in the event of a no-deal Brexit. The regulator has briefed government officials on its plans to recruit staff with the expertise to take over the certification of parts and planes should the split cause Britain to leave the ...

Bloomberg Dutch airline KLM agreed to reduce the workload for its pilots. Unions at sister carrier Air France want a deal too. Labour representatives at Air France-KLM’s French unit have been asking for a pay rise since the beginning of the year, vowing to stage more strikes if new Chief Executive Officer Ben Smith doesn’t comply. Now that KLM pilots ...

Bloomberg Poland’s plan to build a $9.4 billion central airport 45 kilometres (27 miles) outside of the capital will be a waste of money that would be better spent on improving existing facilities, according to Europe’s biggest low-cost carrier Ryanair Holdings Plc. Warsaw already has two operating airports, whose capacities aren’t fully used and could be expanded instead of building ...

Bloomberg Burberry Group Plc will stop destroying unsold products and using animal fur as it works to placate investors and compete with leading luxury brands that are racing to clean up their images with new commitments on sustainability and ethics. Top-end fashion brands have long preferred to burn some unsold items or bury them in landfill rather than risk their ...

Abu Dhabi / WAM The number of business licenses issued in the UAE by the end of August, increased to 532,000, a growth of 9 percent over the end of 2017, in yet a fresh sign that the business is moving and gaining speed across various economic platforms despite the global slowdown in different world countries. According to the Ministry ...

ABU DHABI / WAM The trade exchange between the UAE and Ghana amounted to over $1.2 billion by the end of 2017,a according to a senior Ministry of Economy official. “Afro-UAE relations are significantly evolving and we are attaching growing importance to strengthening business ties with the Republic of Ghana,” said Abdullah bin Ahmed Al Saleh, Under-Secretary of the Ministry ...