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EU governments weigh Carney for top IMF job

Bloomberg European governments are actively discussing nominating Bank of England (BOE) Governor Mark Carney as the next head of the International Monetary Fund, according to a person familiar with the matter. While a Canadian by birth, Carney holds British and Irish passports, so his selection would technically preserve the seven-decade practice of a European running the Washington-based lender. The BOE ...

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India to inject $10.2b into state banks

Bloomberg India will inject another 700 billion rupees ($10.2 billion) into state banks, giving them a bigger cushion to absorb loan losses and bolster credit growth at a time when the country’s shadow banks are in retreat. The new infusion will “boost capital so that credit can be further improved,” Finance Minister Nirmala Sitharaman said, while presenting the federal budget ...

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Lagarde may become first woman to lead ECB

Bloomberg Christine Lagarde is set to join what remains a minority of women in senior roles at euro-area central banks. While she’s secured the top job at the ECB, all the permanent governors in the currency bloc’s 19 members are men. Female representation in high-ranking positions is still lacking at the Frankfurt-based institution and most of the national monetary authorities. ...

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S Africa’s banking rush surprises regulator

Bloomberg Shortly after being appointed South Africa’s Registrar of Banks in 2015, Kuben Naidoo asked his colleagues where the banking license division was. He was told that there wasn’t one because the registrar hadn’t received an application for 11 years. After Naidoo received his first application from TymeBank that year, the activity hasn’t stopped. The regulator has received applications from ...

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Deutsche Bank’s US dreams to be unraveled in revamp

Bloomberg A little over two decades ago, Deutsche Bank AG set out to become a Wall Street giant. Its CEO Christian Sewing will probably pull the plug on that dream for good soon. Sewing is poised to unveil the biggest job cuts programme in the bank’s history, including a major retreat across its briefly held US empire, people familiar with ...

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Boeing 737 Max’s autopilot has problem, reports EASA

Bloomberg Europe’s aviation regulator has outlined five major requirements it wants Boeing Co to address before it will allow the planemaker’s 737 Max to return to service, according to a person familiar with the matter. One of them, about the jet’s autopilot function, hasn’t surfaced previously as an area of concern. The European Union Aviation Safety Agency (EASA) has sent ...

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Modi renews vow to sell Air India after last attempt flopped

Bloomberg India will revive plans to sell Air India Ltd, after an attempt to partially exit the loss-making carrier failed to find a single buyer last year. The high-profile divestment would be part of PM Narendra Modi’s efforts to raise $15.3 billion selling stakes in state-run companies, finance minister Nirmala Sitharaman said in her budget speech. The administration will also ...

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Amazon faces review by UK watchdog into Deliveroo deal

Bloomberg Amazon.com is facing an initial review by the UK competition regulator into its bid to buy a slice of fast-growing food delivery startup Deliveroo. The Competition and Markets Authority (CMA) said it has “reasonable grounds” to believe that Amazon and Deliveroo have either ceased to be separate businesses, or will merge in the near future, according to the enforcement ...

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BA turns to state mediator to avert pilot strike

Bloomberg British Airways (BA) is entering conciliation talks with pilots in a bid to head off a walkout over pay at the height of the summer travel season. The unit of IAG SA will meet with the BALPA union at the UK’s Advisory, Conciliation and Arbitration Service on Monday, spokespeople for the two sides told Bloomberg. The talks, which will ...

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Jet suppliers hit merger spree to match Boeing, Airbus output

Bloomberg Airbus SE and Boeing Co’s record output of jetliners is spurring a blistering pace of mergers among aerospace suppliers as companies seek growth to keep up with demand, according to a Lazard Ltd investment banker. The market for deals, which reached an all-time high of $120 billion last year, is “extremely robust,” Michael Richter, head of aerospace and defense, ...

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