Bloomberg UniCredit SpA is nearing an agreement with US authorities over allegations that the bank provided dollar-clearing services to Iranian clients in violation of US sanctions, people with the knowledge of the matter said. The deal would cost the Italian lender about $900 million but spare it from criminal prosecution, the people said. A settlement of that size would be …

Bloomberg Zimbabwe’s lenders, which include units of Standard Bank Group Ltd and Ecobank Ltd, appealed to the central bank to raise interest rates that have been capped at 12 percent for the past two years, saying this would increase lending in the collapsing economy. They also proposed that the Reserve Bank of Zimbabwe introduce an overnight rate to facilitate lending …

Bloomberg SoftBank Group Corp plans to hire about 10 people to boost its in-house investment capabilities, primarily from Goldman Sachs Group Inc, according to people familiar with the situation. The additions will come from banking, private equity, consulting and, in at least one case, the medical profession, said the people, asking not to be named because the matter is private. …

Bloomberg Germany’s beleaguered investment bankers could face even more competition when rivals move staff to the country after Brexit. While relocations from the UK will initially have little effect, that may change if banks then use their newly established presence in Germany to expand in the local market for investment banking services, Joachim Wuermeling, the head of banking supervision at …

Bloomberg Lockheed Martin Corp’s $31 billion King Stallion helicopter programme for the US Marines may miss its first key milestone by more than 19 months because of a growing checklist of flaws discovered in development testing. The Naval Air Systems Command acknowledged that the helicopter designed to carry heavy cargo won’t meet its December target date for initial combat capability. …

Bloomberg Majid Al Futtaim Holding LLC, an operator of French retailer Carrefour SA outlets, plans to boost its presence in Kenya as it looks to expand into eastern and southern Africa. Growing the franchisee in Africa will boost competition for the likes of Shoprite Holdings Ltd, the continent’s biggest grocer, and Walmart Inc’s Massmart Holdings Ltd. Those companies are looking …

Bloomberg Whole Foods Market says it will lower prices on hundreds of grocery items this week, the latest effort to reshape the grocer’s pricey image under Amazon.com Inc. The Seattle retail giant touted a round of price cuts immediately after buying Whole Foods in August 2017 and over the last year worked to roll out grocery delivery from store locations …

Bloomberg Superdry Plc shares plunged as its board and top management resigned following a shareholder vote to bring back co-founder Julian Dunkerton at the helm of the UK apparel retailer. Chairman Peter Bamford, Chief Executive Officer Euan Sutherland and Chief Financial Officer Ed Barker will leave immediately, the company said. Dunkerton will take over as interim CEO and join the …

Bloomberg A new startup may have the answer for cashed-up travellers desperate to beat the gridlock in the mega cities of Southeast Asia: helicopter ride-sharing. Ascent Flights Global Pte is starting the service in the Philippines next week and plans to expand to Thailand, Indonesia and Malaysia by next year. The Singapore-based company lets customers book a seat on a …

GENEVA / WAM World trade will continue to face strong headwinds in 2019 and 2020 after growing more slowly than expected in 2018 due to rising trade tensions and increased economic uncertainty. World Trade Organisation (WTO) economists expect merchandise trade volume growth to fall to 2.6% in 2019 down from 3.0% in 2018. Trade growth could then rebound to 3.0% …