Bloomberg The financial industries of Sweden and Denmark were quick to criticise the Basel Committee on Banking Supervision’s completed framework, arguing it will hit Scandinavian lenders too hard. “The Basel standards will, if they are fully implemented in the EU and Sweden, have large negative effects for Swedish banks, their clients and the Swedish economy,” Hans Lindberg, the head of ...

Bloomberg In just over half a year, Danske Bank A/S has attracted 11,500 clients to an investment service provided by a robot. Denmark’s biggest financial firm now hopes the project will help it expand its wealth management operations. The robot is called June. It targets retail clients and small businesses that normally wouldn’t have the resources to work out what ...

Bloomberg Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan said the likelihood is waning that the lender will settle a US mortgage-bond probe before the end of the year as he’d hoped, though it’s well-capitalised to handle a settlement. “There are diminishing chances” the bank will settle with the US Department of Justice in 2017, “but this ...

Bloomberg United Continental Holdings Inc. is exploring a deal to invest in regional airline ExpressJet to boost its pipeline of pilots and expand service in the eastern and midwestern US, people familiar with the matter said. The Chicago-based carrier is looking at acquiring an ownership stake in ExpressJet among other options in negotiations that are still developing, said the people, ...

Bloomberg Delta Air Lines Inc. said it was resuming normal operations at its Atlanta hub, after a snowstorm forced it to cancel about 375 flights in and out of there earlier in the day. The cancellations came on top of more than 1,000 flights scrubbed on Friday because of the early-season snowstorm. The airline said winter weather in the south ...

Bloomberg Ryanair Holdings Plc has threatened to freeze benefits for pilots in Dublin and move aircraft to other Irish airports if staff go on strike. The discount carrier will scrap promotions, halt transfer requests and cut back recently-granted spending allowances of up to $18,900 per pilot, Chief People Officer Eddie Wilson wrote in a letter to staff. The company may ...

Bloomberg Chinese conglomerate HNA Group Co.’s flagship carrier cancelled a planned bond sale after weeks of soaring interest rates that had forced the debt-laden group’s units to pay some of their highest borrowing costs ever. Hainan Airlines Holding Co. had planned to sell $151.2 million of the perpetual securities in China’s local market to repay maturing debt, according to a ...

Bloomberg Michael Kors Holdings Ltd., Ralph Lauren Corp. and other fashion brands are locked in a high-stakes contest this Christmas. But the winner won’t be the company that sells the most—it’ll be the one that winds up with the least amount of unwanted merchandise. After years of struggling to manage their inventory, brands are using increasingly sophisticated tools to track ...

Dubai / Emirates Business Countries in the Middle East region continue to remain significant markets for the latest homeland security and policing equipment and solutions, as governments prioritise the maintenance of a safe and secure society. This continued trend is evident as the 20th edition of Intersec expects more than 100 of the 1,300-plus exhibitors to showcase their frontline range ...

DUBAI / WAM The Dubai Airport Freezone Authority (DAFZA) has honoured 22 managers, heads of departments and employees following the completion of the fourth phase of its ‘Innovation Champions’ programme. The freezone is the first government entity to complete all stages of the Global Innovation Management Institute programme which falls in line with the DAFZA Innovation Strategy. The programme undertook ...