Bloomberg Shorting Canadian banks has long made for a poor bet by US hedge funds, and this time will be no different, according to Bank of Nova Scotia Chief Executive Officer Brian Porter. “US hedge funds, from time to time, have appeared in this country over the last 10 years with the same hypothesis of shorting Canadian banks, and it ...

Bloomberg Singapore meted out lengthy bans to convicted former HSBC Holdings Plc and United Overseas Bank Ltd. bankers for fraud and dishonest conduct. Emeline Tang, a former HSBC employee, was banned from providing any capital markets and financial advisory services for 20 years, the Monetary Authority of Singapore said in a statement on Wednesday. Former UOB employee Nguyen Duy Minh ...

Bloomberg Several of the best-known bankers in India’s financial capital, Mumbai, are striking out on their own after one of the most turbulent periods in decades for the country’s credit markets. The moves highlight how mounting strains in the country’s markets are reshaping traditional career paths. Banks have been in cost cutting mode as they grapple with one of the ...

Bloomberg The death of Hanjin Group Chairman Cho Yang-ho this week threatens to weaken his family’s grip on an aviation-to-logistics empire built over two generations. While the family is yet to disclose it, Cho’s eldest son Walter — president of the group’s Korean Air Lines Co and its parent — is seen by analysts as his natural heir. But South ...

Bloomberg Possible debris from a Japanese F-35A stealth fighter that crashed during an exercise over the Pacific Ocean has been found at sea in what would be the costly jet’s second crash in less than a year. The plane and its pilot, a man in his 40s, went missing about 135 kilometres off the Japanese coast after departing Misawa Air ...

Bloomberg The fate of debt-laden Jet Airways India Ltd, the country’s oldest surviving private airline, could be determined as soon as a creditor-imposed deadline for takeover bids runs out on Wednesday. Creditors led by State Bank of India had not received any bids for as much as 75 percent of Jet Airways, though that doesn’t mean that offers won’t come ...

Bloomberg Nestle SA’s sale of its Herta lunch-meat business may attract interest from bidders including US packaged meat company Smithfield Foods and agricultural commodities giant Cargill, according to people with knowledge of the matter. The Swiss company plans to send marketing material this month to potential investors including Tyson Foods, China’s Cofco Corp and Sigma Alimentos SA de CV of ...

Bloomberg Commercial flying may have lost its mythical appeal from the bygone jet age — think crowded budget carriers, dour catering and the premature demise of the majestic Airbus A380 airliner — but aerospace companies are nevertheless busy trying to improve the passenger experience on board an aircraft. In the hyper-competitive world of aviation, more comfort in the cabin can ...

DUBAI / WAM The UAE is set to play a big role in China’s One Belt and One Road Project, as stated on the sidelines of Annual Investment Meeting (AIM), in Dubai. The 9th edition of AIM brought to focus several investments and projects associated with the initiative. Abdulla Al Saleh, Undersecretary for Foreign Trade, UAE Ministry of Economy said, ...

Dubai / WAM Dubai Customs has announced the launch of a smart channel dedicated to Expo2020 Dubai, providing customs services to exhibitors taking part in the global event. The ‘Expo 2020 Smart Customs Channel’ provides exhibitors with customs services via their smart mobiles and devices around-the-clock, which will help exhibitors finalise their customs transactions easily. The channel relies on advanced ...