ShanghaI / AFP Chinese bank lending almost halved month-on-month in October, official data showed, as Beijing moved to rein in credit risks but with national holidays also an issue. New loans extended by banks fell to 651.3 billion yuan ($95.6 billion) last month, compared with 1.22 trillion yuan in September, said the People’s Bank of China, the country’s central ...

  Frankfurt / AFP German insurance heavyweight Allianz announced a bumper third-quarter profit, turning around a slump prompted by higher payouts for natural disasters earlier in the year. The group said it increased net profit to 1.95 billion euros ($2.1 billion) between July and September, an increase of 35 percent year-on-year. Its result outdid the expectations of analysts surveyed by ...

  Bloomberg European banks may reach faster, less costly settlements with the US Department of Justice as a result of Donald Trump’s unexpected triumph in the US presidential election, according to Barclays Plc analysts. “Some Democrat appointments at the DoJ have only a few weeks left before they are replaced,” London-based analysts Mike Harrison and Jeremy Sigee wrote in a ...

  Bloomberg Agricultural Development Bank Ltd. of Ghana may reopen an initial public offering next week, increasing its funding target by half after rejecting bids in a share sale that closed in March. The biggest agricultural lender in the West African country will seek to raise 600 million cedis (about $150 million) should the government, which holds 52 percent, approve ...

  Bloomberg Wells Fargo & Co. climbed for a second straight day, leading US bank stocks higher, as investors bet that a Trump presidency will lead to less regulation, sideline some of the industry’s sharpest critics and lift long-term interest rates. Wells Fargo, which drew bipartisan rebukes from Congress after bank employees opened unauthorized customer accounts, rose 7.8 percent to ...

  Bloomberg AT&T Inc. will offer wireless subscribers the ability to stream lower-quality video to save on data charges, an industry practice that has raised concern about equal treatment of internet content. Beginning in early 2017, AT&T customers will have the option to use Stream Saver, a video-delivery setting that provides DVD-quality, 480p-screen resolution, according to a statement Friday. The ...

  Bloomberg The election of Donald Trump has been stock market manna for every industry that benefits from an expanding economy but one: technology.Losses among computer and software makers mushroomed and were pronounced in the FANG block of Facebook Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc., each of which fell at least 1.9 percent. The Nasdaq 100 ...

  AFP Facebook accidentally declared its founder Mark Zuckerberg and many other users dead on Friday, acknowledging after fixing the problem that it had committed a “terrible error.” “For a brief period today, a message meant for memorialized profiles was mistakenly posted to other accounts,” a Facebook spokesperson said. “This was a terrible error that we have now fixed.” Media ...

  Emirates Business Label Ritu Kumar’s latest festival chic collection is modern and progressive clothing, which gives one an effortless urbane look. Explore the world in this collection, with its simple style, bohemian flair, and cheerful colours to unleash your inner traveller. This collection symbolises elegance and sophistication, while ensuring every piece is functional and wearable. Choose from various long ...

  Relaxnews The second part of the sale of fashion magnate Pierre Berge’s famous library — one of the most valuable in private hands — raised nearly five million euros (£5.5 million) Wednesday when it went under the hammer in Paris. Some of the most rare first editions of classics of 19th century European literature were among the 376 works ...