Bloomberg PSA Peugeot Citroen will set new growth goals after cost-cutting and recovering demand in Europe helped the French automaker beat targets set two years ago following a bailout. Automotive operating profit last year was 5 percent of revenue, far exceeding a 2 percent margin goal for 2018, the company said in a statement Wednesday. Free cash flow was almost ...

Bloomberg Germany’s 30-year government bonds advanced for a fifth day, reducing the extra yield they offer over shorter maturities, known as flattening the yield curve, as the nation prepared to auction debt due in July 2044 on Wednesday. German bonds rose as European stocks declined with sliding oil prices prompting investors’ demand for safer assets. With the average yield on ...

Bloomberg Foreign holdings of rupee-denominated debt are falling at the fastest pace since December as losses in Indian bonds deepen and the currency hovers near a record low. The nation’s sovereign notes have turned into Asia’s worst performers in 2016, from the best in the previous two years, amid concern Prime Minister Narendra Modi’s Feb. 29 budget will show fiscal ...

Bloomberg Based in a drab office building in Dublin down the road from a pub frequented by Prime Minister Enda Kenny, VPB Funding Ltd. had no employees but one function: selling bonds. In 2013, it issued $225 million of unsecured notes. The proceeds of that sale were funneled to Vneshprombank Ltd., a Moscow lender whose license was revoked last month ...

Bloomberg Standard Bank Group Ltd., Africa’s largest lender by assets, said it expects to report that 2015 profit increased by as much as 35 percent because of reduced losses at its international operations. Earnings per share excluding one-time items will range from 13.52 rand ($0.89) to 14.60 rand a share from 10.81 rand in 2014 when using international financial reporting ...

Bloomberg Curtis Arledge, a vice chairman of Bank of New York Mellon Corp. and chief executive officer of its investment-management unit, is leaving to pursue other opportunities. Mitchell Harris, 61, will replace Arledge in the CEO position, effective immediately, New York-based BNY Mellon said Tuesday in a statement. Harris, who already oversaw the day-to-day management of the company’s investment businesses ...

Bloomberg Bank of Montreal posted fiscal first-quarter profit that beat analysts’ estimates as contributions from its purchase of General Electric Co.’s transportation-finance business added to U.S. earnings. Net income for the period ended Jan. 31 climbed 6.8 percent to C$1.07 billion ($778 million), or C$1.58 a share, from C$1 billion, or C$1.46, a year earlier, Canada’s fourth-largest lender by assets ...

BLOOMBERG Canada’s central bank appointed Sylvain Leduc, a researcher at the Federal Reserve Bank of San Francisco, to the group of policy makers that sets interest rates. Montreal-born Leduc replaces Agathe Côté, who retired at the end of January, on the Bank of Canada Governing Council, according to a statement Tuesday from Ottawa. Leduc is “a renowned and prolific researcher” ...

Toulouse / Bloomberg Airbus Group said on Wednesday its net profits climbed 15 percent last year and predicted deliveries of more than 650 aircraft in 2016 and a rise in orders to record levels. The France-based European aerospace group chalked up a net profit of 2.7 billion euros ($3.0 billion), with sales up 6.0 percent to 64 billion euros. Orders ...

Sydney / AFP Shopping centre giant Westfield on Wednesday recorded a US$2.3 billion net profit supported by healthy income growth for its US and British assets, as it flagged an August opening for its fully leased World Trade Center development. The Australian-listed company is reporting its first full-year result for the 12 months to December 31, 2015 since spinning off ...