Bloomberg Andrea Orcel has spent his career leading some of the world’s biggest investment banks. Now he may strike out on his own. Orcel is considering starting a boutique investment bank, one of a range of options that may force him to give up tens of millions in deferred pay from his former employer, UBS Group AG, according to people …

Bloomberg Indian bond traders who were expecting the central bank to keep the cash spigot open may have to rework their calculations. The Reserve Bank of India was expected to hold a reverse repo auction of 250 billion rupees of 63-day duration on Wednesday, the first such move to use the tool for a longer duration to drain cash. It …

Bloomberg Deutsche Bank AG is sounding out potential buyers for a wide range of unwanted assets as it lays the groundwork for its most dramatic overhaul in recent history, people with knowledge of the matter said. Germany’s largest lender is gauging interest for performing and soured loans as well as assets including equity-related securities and interest rate derivatives, the people …

Bloomberg A banker who lost his job as part of Nomura Holdings Inc cuts recalls the camaraderie at the riverside Oyster Shed bar next to the institution’s London headquarters one evening as the room filled with ex-employees. Japan’s biggest brokerage let about 30 people go that day in April. Summer has arrived in London, but the smiles are likely to …

Bloomberg Nike Inc stood by its decision to pull its Fourth of July sneakers from stores, even as the move dragged it once again into America’s culture wars and drew criticism from conservative lawmakers claiming political correctness has gone too far. “We regularly make business decisions to withdraw initiatives, products and services. Nike made the decision to halt distribution of …

Bloomberg Air India Assets Holding Ltd, a special purpose vehicle that holds part of the state-owned carrier’s debt and assets, is planning its first rupee-denominated bond sale to refinance some debt of the airline. Air India Assets is aiming to raise 220 billion rupees ($3.2 billion) and has sought fee bids from bankers, people familiar with the matter said. Out …

Bloomberg As airlines boost profits by packing more passengers into smaller spaces, lengthy international trips have become increasingly cramped and miserable. Delta Air Lines Inc hopes a refreshing drink and a nicer dinner setting will help make up for all that. Starting from November 5 in the coach class cabin of international trips of more than 6.5 hours, the Atlanta-based …

Bloomberg J Sainsbury’s sales fell in the first quarter since its planned acquisition of Walmart’s Asda collapsed, underlining the need for a revamp of its UK supermarkets. Comparable retail sales excluding fuel dropped 1.6 percent, with general merchandise, clothing and groceries all declining, the retailer said. The shares rose as much as 2.4 percent in London after an early dip, …

Bloomberg Procter & Gamble Co, facing an industrywide backlash against consumer waste, is seeking a patent that would help it develop recyclable versions of absorbent products including diapers, sanitary products and potentially even Swiffer pads. Because many absorbent products today use multiple kinds of plastic and other materials, they’re hard to separate during trash sorting and nearly always end up …

Bloomberg Oil slid to its worst loss in two weeks as mounting fears about the global economy undercut the latest plan from Opec and its allies to stabilise markets. Futures dropped by as much as 4.3 percent in New York, the steepest intraday decline since June 12. Bank of England Governor Mark Carney warned of the dangers of rising protectionism …