Bloomberg Commerzbank AG saw earnings last quarter hit by a long series of one-time charges, undermining an otherwise solid performance and complicating efforts by Chief Executive Officer Manfred Knof to grow the lender. The shares fell after Commerzbank reported 18% lower revenue and a net loss of 527 million euros, both worse than estimated. However, it reiterated a forecast for …

Bloomberg Mitsubishi UFJ Financial Group Inc’s new hybrid work model in its EMEA region gives its staff plenty of say over how they will return to the office. The Japanese lender said it will leave it up to employees and their managers to “establish their own personal rhythms of home and office work,” according to a statement. It will continue …

Bloomberg Two of Singapore’s largest lenders will increase dividend payouts after profit in the second quarter beat forecasts driven by lower provisions for bad loans. Oversea-Chinese Banking Corp, the city state’s second biggest bank, will pay an interim dividend of 25 cents per share after reporting a 59% jump in net income to S$1.16 billion ($859 million), just ahead of …

Bloomberg Growing geopolitical tensions and pulled initial public offerings have done little to damp the appetite of Western banks for Hong Kong and China. Standard Chartered Plc Chief Executive Officer Bill Winters was the latest executive in recent weeks to signal a sweeping Chinese government crackdown and rising geopolitical tensions between China and the US won’t derail his lender’s focus …

Bloomberg Stocks in Europe rose on Wednesday as concerns over China’s gaming and technology clampdown eased, countering lingering worries about the spread of the Covid-19 delta strain and its effect on the global recovery. Technology shares led the charge as the Stoxx Europe 600 index climbed for a third day to a fresh record. The travel and leisure sector also …

Bloomberg The return of Chinese investors and bargain hunters in tech stocks is giving Hong Kong’s equities market a reprieve from weeks of relentless selling. The Hang Seng Index advanced 0.9% on Wednesday, led by a rebound in technology giants including Tencent Holdings Ltd, after Chinese state media moderated its criticism of the sector. BYD Co Ltd jumped 8.3% on …

ABU DHABI / WAM The Association of Agricultural Research Institutions in the Near East and North Africa (AARINENA) has signed a cooperation agreement with Food and Agriculture Organisation of the United Nations (FAO) to establish and operate research, technology and innovation platform for an integrated production system for date palm in the Middle East and North Africa region, according to …

Bloomberg American Airlines Group Inc agreed to buy a stake in JetSmart Airlines SpA, a privately held, low-cost carrier based in Chile, and establish a partnership that the larger carrier hinted could open the door to additional deals with other discounters operated by Indigo Partners LLC. American will spend an undisclosed amount for an unspecified minority stake in JetSmart, one …

Bloomberg A federal official has recommended overturning the results of a union election at an Amazon.com Inc warehouse in Alabama, giving the retail union an opportunity to reverse its defeat, according to people familiar with the issue. After losing the election in April, the Retail, Wholesale and Department Store Union appealed the outcome to the National Labor Relations Board, setting …

Bloomberg Amazon.com Inc is tacking on a delivery fee for Prime members who shop at Whole Foods Market in several US cities, an indication that the economics of grocery delivery continue to pose a challenge for even the world’s largest online retailer. Shoppers were informed of a $9.95 service fee for deliveries beginning on August 30 in the Boston and …