Bloomberg US claims that a Latvian bank laundered money and violated sanctions on North Korea led to the lender’s demise in little over a week, turning the spotlight on the European Central Bank’s role as chief supervisor for euro-zone lenders. The US Treasury proposed banning ABLV Bank from doing business in dollars, but the ECB doesn’t have the power to ...

Bloomberg Bank of England Deputy Governor Dave Ramsden looks to have changed his mind on interest rates. An opponent of a rate increase in November, Ramsden told the Sunday Times in an interview that an acceleration in wage growth suggests swifter rate rises are now required. Ramsden said he’ll closely monitor what happens in the early part of 2018 to ...

Bloomberg The clock is ticking for John Cryan to complete the next step in Deutsche Bank AG’s turnaround. The lender on Monday said it will sell shares in its DWS asset management business “in the earliest available window,” confirming a plan first outlined a year ago and kicking off what is usually a four-week run-up to the initial public offering. ...

Bloomberg President Joko Widodo’s choice of a career central banker to head Bank Indonesia signals monetary policy continuity as rising odds of faster US rate increases roil emerging-market currencies and bonds. Widodo, also known as Jokowi, has nominated Deputy Governor Perry Warjiyo as his sole candidate, Sofjan Wanandi, adviser to Vice President Jusuf Kalla, said by text message on Monday. ...

Bloomberg If you think things will keep getting better for China’s biggest banks, look no further than China Construction Bank Corp. Goldman Sachs Group Inc and Morgan Stanley are among at least 16 brokerages that have raised their target prices for China’s second-largest bank this year. Institutional investors including BlackRock Inc and Invesco Ltd have recently increased their CCB holdings, ...

Bloomberg As China’s shoppers power growth for European luxury brands, Chinese companies want to bring home some of the profits along with their Prada loafers. Fosun International Ltd. acquired a majority stake in French fashion house Lanvin for an undisclosed sum, the Shanghai-based group said. It’s the latest in a series of moves by Chinese companies to snap up iconic ...

Bloomberg Logistics specialist and airports operator Stobart Group Ltd. said it’s looking at putting together a bid for Flybe Group Plc, Britain’s biggest domestic airline, as the regional carrier grapples with declining earnings. Flybe shares rose the most in four years as Stobart said options include taking a non-controlling interest in a business that would make a cash bid for ...

Bloomberg Two of London’s three biggest airports said they could add almost 30 million more passengers between them yearly without requiring extra runways. Stansted, the biggest hub for Ryanair Holdings Plc, plans to apply to raise a cap on annual passenger numbers by almost one-quarter to 43 million, owner Manchester Airports Group said in a statement. That would be 17 ...

Bloomberg Airbus SE’s revised deal with the countries that helped fund the A380 superjumbo almost two decades ago will help save the European planemaker more than $1.4 billion, according to a regulatory filing. Future obligations for refundable advances declined by about about 17 percent to an estimated $7.3 billion, Airbus said in its annual financial statements. While the balance includes ...

Bloomberg Southwest Airlines Co. is reviewing its policies on emotional support and service animals after a dog bit a young girl on the forehead aboard one of its planes. The dog was in the first row of seats against a bulkhead when the girl, about six years old, approached it after the owner had asked her to stay back, said ...