Bloomberg Citigroup Inc is the first big US bank to report second-quarter earnings when its latest results come out. Investors will be keeping a close eye on how tightly the bank reined in expenses, and how its international businesses fared, as weak trading revenues are already anticipated. Citigroup CFO Mark Mason said second-quarter fixed-income and equities trading revenue would likely ...

Bloomberg After a US money-laundering probe rocked Latvia’s economy, sending one of its largest banks belly up, the Baltic nation’s US-born leader is trying to convince Washington and business leaders that he’s cleaning up his country’s financial system for good. In meetings with top investors and US policy makers, including Vice President Mike Pence and Treasury Secretary Steve Mnuchin, Prime ...

Bloomberg India’s plan to issue foreign currency debt has no real benefit and is fraught with risks, according to former Reserve Bank of India (RBI) governor Raghuram Rajan. A global bond sale won’t reduce the amount of domestic government bonds the local market has to absorb and the country should worry about short-term “faddish investors buying when India is hot, ...

Bloomberg Nigeria’s central bank first tried to induce lenders into giving more credit through incentives such as discounted capital. That didn’t work. Now, it is reaching for the stick in a push to revive economic growth. Banks in Africa’s most populous country are reluctant lenders in an economy struggling to rebound from a 2016 contraction, double-digit inflation and non-performing loan ...

Bloomberg Bjorn Kjos, a pioneer of low-cost travel as co-founder of Norwegian Air Shuttle ASA, is stepping down as chief executive officer after making progress toward resolving the carrier’s debt crisis. Kjos, who helped found Norwegian in 1993 and led its rapid growth, will leave the post immediately, the company said in a statement. Chief Financial Officer Geir Karlsen will ...

Bloomberg Walmart Inc is facing a strike by thousands of workers in South America amid the retail giant’s push to increase automation at its physical stores. About 17,000 Walmart workers in Chile went on an indefinite strike after labour talks between the company and the union failed. As many as 124 of the retailer’s 375 stores across the country closed ...

Bloomberg Ryanair Holdings Plc will need to pare back its growth plans for next summer if the grounding of the Boeing Co 737 Max drags on late into this year. Chief Executive Officer Michael O’Leary is set to meet with Boeing in the next two weeks, when the discounter will push for a specific date for the plane’s return to ...

Bloomberg Steinhoff International Holdings NV’s first-half sales gain gives the global retailer some wiggle room as it looks to finalise debt-restructuring talks. Still, there is plenty of uncertainty. Steinhoff said sales rose 3 percent in the six months through March to $7.7 billion. The owner of Poundland in the UK and Conforama in France reported its third set of earnings ...

Bloomberg When Italian rapper Fedez flew to Sicily to marry fashion star Chiara Ferragni, bankrupt Alitalia provided a special plane, complete with tailor-made tickets, a dedicated departure gate and onboard gadgets. The company’s largesse sparked protests in parliament and online — as well as demands from the government for an explanation. Alitalia said the flight, from Milan’s Linate airport to ...

ABU DHABI / WAM Search for Common Ground (Search) in collaboration with Hedayah, the International Centre of Excellence for Countering Violent Extremism (CVE), has released the first ever complete CVE Training Curriculum. Financed by the European Union’s Strengthening Resilience to Violent Extremism (STRIVE) Global programme, the initiative is aimed to raise awareness on collaborative CVE approaches among governments and civil ...