Bloomberg Lloyds Banking Group Plc will cut a further 3,000 jobs as it warned Britain’s vote to leave the European Union would hurt its ability to boost dividend payments. Pretax profit, excluding one-time items, fell to 4.16 billion pounds ($5.5 billion) in the first half of the year, from 4.27 billion pounds a year ago, the London-based bank said ...

  Bloomberg HSBC Holdings Plc is weighing the sale of a portfolio of Latin American client assets that are managed in Switzerland to Banco Santander SA as the British lender restructures its private bank, according to people familiar with the matter. Santander is interested in the portfolio, which could include $4 billion to $6 billion of assets under management, as ...

  Bloomberg Banco Bilbao Vizcaya Argentaria SA is preparing its second management reorganization in 14 months as Chairman Francisco Gonzalez streamlines Spain’s second-biggest lender and accelerates its push into digital banking. Units in Spain, Mexico, the U.S. and Turkey will report directly to Chief Executive Officer Carlos Torres under the new structure, with the remainder under the responsibility of a ...

  Bloomberg Deutsche Bank AG investors have grown accustomed to John Cryan’s blunt talk since he took the helm a year ago. He’s chastised bankers for their pay and described his employer as an “endemic underperformer.” But some were still surprised on Wednesday when the chief executive officer said unjustified doubts over Deutsche Bank’s financial strength had spooked some clients ...

  Beijing / AFP China and Russia will hold joint naval exercises in the South China Sea in September, Beijing’s defence ministry said Thursday, after an international tribunal invalidated the Asian giant’s extensive claims in the area. The drills will be carried out in the “relevant sea and air of the South China Sea”, defence ministry spokesman Yang Yujun told ...

  Cilacap / AFP Indonesia on Thursday rejected appeals from the UN and EU to halt the execution of 14 drug convicts including foreigners, as speculation mounted they could face the firing squad in a matter of hours. The group, including foreigners from Nigeria, Pakistan, India and Zimbabwe as well as Indonesians, have been placed in isolation on a prison island ...

  Dhaka / AFP A Bangladesh court on Thursday upheld the death sentence for six militants convicted over a suicide bombing in 2005 of a lawyer’s office that killed eight people, a top prosecutor said. Bangladesh’s judiciary is under pressure to fast track cases involving militants as the government faces mounting criticism to crackdown on extremists over a series of recent ...

  Berlin / AFP German Chancellor Angela Merkel on Thursday “firmly” rejected calls to reverse her welcoming stance toward refugees following a series of brutal attacks in the country. Merkel told reporters that the assailants “wanted to undermine our sense of community, our openness and our willingness to help people in need”. “We firmly reject this,” she said. Merkel, who interrupted ...

  Moscow / AP Russia and the Syrian government said they will open humanitarian corridors in Syria’s embattled city of Aleppo on Thursday and offer a way out for opposition fighters wanting to lay down their arms, even as Syrian forces took another district from rebels in the city. The Russian announcement by Defense Minister Sergei Shoigu came as Syria’s President ...

  Ankara / AFP Turkey’s top military commanders met on Thursday to replace almost half of their generals in a radical shake-up after the failed coup, as authorities shut down dozens of media outlets in a widening crackdown. The hastily convened meeting came after the government ordered the discharge of 149 generals—nearly half the armed forces’ entire contingent of 358—for ...