Bloomberg Deutsche Bank AG Chief Executive Officer John Cryan urged more consolidation among European banks struggling to shore up profitability, after his own firm held talks with its biggest German rival earlier in August about a possible deal. “We need more mergers, at a national level but also across national borders,” Cryan said at a conference hosted by Handelsblatt ...

  Bloomberg The British investment-banking industry is underpinned by entrenched elitism that blocks people from lower-income backgrounds winning jobs on the basis of ability, according to a report by a government advisory body. Recruiters seeking polished candidates who speak and dress a certain way often discriminate against applicants on the basis of details including shoe color and where they went ...

  Bloomberg Deutsche Bank AG extended gains in Frankfurt trading on a report Germany’s largest bank considered the sale of all or part of its asset management business as it explores strategic options to revive profit. While small parts of the asset management division could be sold, executives at the bank are keen to hold on to most of the ...

  Bloomberg Bank of China Ltd., the nation’s fourth-largest lender, reported a 3.4 percent increase in second-quarter profit even after setting aside extra provisions to boost its bad-loan buffer. Net income rose to 46.4 billion yuan ($6.9 billion) in the three months ended June 30, from 44.9 billion yuan a year earlier, according to figures derived from first-half numbers released ...

  Bloomberg Investment bankers at Europe’s biggest securities firms are watching their bonuses melt. A rout in financial stocks this year has wiped more than $2.5 billion from the value of deferred shares that were paid as bonuses in the past few years at Barclays Plc, Credit Suisse Group AG, Deutsche Bank AG and UBS Group AG, data compiled by ...

  Bloomberg Deutsche Lufthansa AG and Air China Ltd. plan to finalize a joint venture this month, sealing a deal to share revenue and coordinate routes after more than two years of negotiations, people familiar with the plan said. Lufthansa Chief Executive Officer Carsten Spohr will travel to Beijing to attend a signing ceremony scheduled for Sept. 20, said the ...

  Bloomberg Qatar Airways said it’s poised to make a major jetliner purchase, adding to a backlog of more than 340 outstanding orders for Boeing Co. and Airbus Group SE planes. The Gulf carrier will place a “large” aircraft order “soon,” Chief Executive Officer Akbar Al Baker said at a briefing in Doha, without elaborating on the number or class ...

  Blomberg Aeropostale Inc., the bankrupt teen clothing chain, says a group including mall operators General Growth Properties Inc. and Simon Property Group Inc. has bid for “substantially all” its assets with an eye toward keeping at least 229 stores open. The so-called going concern bid would also cover expenses including Aeropostale’s bankruptcy financing, the company said in a filing ...

  Bloomberg Korean Air Lines Co. estimated losses on its investments in Hanjin Shipping Co., which applied for court receivership, at more than a third of projected operating income for this year. Losses on loans and an equity stake in the container shipping line will be as much as 383.3 billion won ($344 million), Korean Air Lines said in a ...

  Bloomberg Airlines in China, the world’s second-biggest aviation market, plan to exercise stricter control over their costs and debt structures as part of measures to cope with a weaker yuan and stiffer competition. China Eastern Airlines Corp. will strengthen research on oil prices and exchange rates, the carrier said, a day after China Southern Airlines Co. said it will ...