Bloomberg A criminal probe tied to money laundering allegations engulfing Swedbank AB drew sharp recriminations from both sides over the weekend, and raised serious questions about the role of the board. After the prosecutor accused Sweden’s biggest mortgage bank of refusing to hand over key information, Swedbank’s lawyers responded with claims that investigators were ignoring the norms of Swedish law. ...

Bloomberg Switzerland has room for further easing, though fiscal policy needs to be better utilised to boost long-term growth, according to the International Monetary Fund (IMF). The Swiss National Bank (SNB) is using some of the world’s lowest interest rates and a threat to intervene in currency markets to stem appreciation on the franc. Yet even with a deposit rate ...

Bloomberg A German banking app backed by billionaires Peter Thiel and Li Ka-shing is trying to woo young consumers with free current accounts as it expands outside Europe. In a change of strategy, N26 has decided not to offer its clients a wide range of other banking products for now, preferring to build up its international customer base first. “Regional ...

Bloomberg HNA Group Co agreed to sell control of airline caterer Gategroup Holding AG to RRJ Capital, the second major divestment in a week by the embattled Chinese conglomerate. RRJ will purchase all outstanding shares of Gategroup, the Swiss company said in a statement on its website, confirming an earlier Bloomberg News report. It didn’t disclose financial terms. The deal ...

Bloomberg EasyJet Plc dropped the most in more than two years after warning the crucial summer season will be weaker than expected as low-cost airlines feel the brunt of the UK’s political crisis over Brexit and waning consumer demand. Revenue per seat at constant currency fell an estimated 7.4 percent in the first six months of the carrier’s fiscal year, ...

Bloomberg Warren Buffett said Berkshire Hathaway Inc’s investment in Delta Air Lines Inc rose above his comfort threshold by mistake. The stake climbed when Delta bought back its own stock and Berkshire increased its holdings, according to regulatory filings this month. “What I didn’t realise was that that purchase had taken us over 10 percent,” Buffett said in an interview ...

Bloomberg Kellogg Co agreed to sell its cookies and fruit snack brands including Keebler and Famous Amos to Ferrero SpA for $1.3 billion, as the cereal maker refocusses on the fast-growing parts of its business. The businesses generated sales of about $900 million in 2018, the companies said. The all-cash transaction is expected to close by the end of July. ...

Bloomberg Apollo Global Management LLC is seeking to raise as much as $1 billion for a new aircraft-finance fund. The fund, expected to launch this year, would make various aviation investments and have a nine-year term, according to a person with knowledge of the matter, who asked not to be identified because the information isn’t public. Charles V. Zehren, a ...

Bloomberg After spending more than a century selling baby formula, Nestle SA realised it’s neglected another potential customer: mom. The Swiss food giant is expanding its offering for expecting and lactating women to add products that it says will help reduce health risks related to motherhood. The business could generate $500 million to $1 billion in 10 years, according to ...

ABU DHABI / WAM The UAE cabinet has adopted a decision to amend provisions of the resolution on sponsoring of foreign workers to their families in the country. According to a statement by the General Secretariat of the Cabinet, the amended provisions now indicate “income” as a requirement for sponsoring family members, as opposed to the previously listed “professions” which ...