Bloomberg Canada’s plane and train maker Bombardier said it was cutting 7,500 jobs, its second major layoff announcement this year following delays in deliveries of its C-series airplanes. The job cuts, to be completed by the end of 2018, are expected to mostly hit administrative posts, with two-thirds from the transport division, a Bombardier spokesman said. These layoffs come …

  Bloomberg Oceanair Linhas Aereas SA, which operates as Brazilian airline Avianca Brasil, hasn’t paid more than $4 million in lease payments for one of its Airbus A330 airplanes, according to a lawsuit filed by Wells Fargo & Co. The complaint, filed Oct. 14 in federal court in Manhattan, claims the airline is behind on $4.64 million in payments to …

  Bloomberg Canada’s retail sales unexpectedly fell and the inflation rate trailed forecasts, raising concern about the health of the country’s economic rebound. Retail sales fell 0.1 per cent in August, compared with forecasts for a 0.3 per cent gain. Consumer inflation accelerated for the first time in five months in September to 1.3 per cent, however the jump was …

  Bloomberg Alaska Air Group can’t complete its merger with Virgin America unless it gives at least seven days advance notice to the San Francisco federal court judge presiding over a consumer antitrust case contending the tie-up is anticompetitive. US District Judge William Alsup issued an order warning Alaska Air that “any consummation will be subject to divestiture,” meaning any …

  Bloomberg Canada’s banks could see their costs rise by as much as 30 basis points under government proposals that would force them to take on a greater share of mortgage defaults, as policy makers seek to engineer a soft landing in the country’s housing market. The estimates, contained in consultation documents released by the country’s finance department, outline two …

  Bloomberg Mitsubishi UFJ Financial Group Inc. is considering opening offices in Kenya and Morocco to boost its African business as Japanese companies seek natural resource and infrastructure-related opportunities on the continent, a person with knowledge of the matter said. Japan’s largest bank has begun studying the possibility of opening the offices in the countries and no decision has been …

  Bloomberg Barclays Plc Chief Executive Officer Jes Staley cast a positive light on the progress he’s making in his turnaround program, as he reiterated his commitment to shedding lower-priority assets to bolster returns. The London-based bank’s core consumer and investment-banking businesses generated a return on tangible equity of about 11 percent as of June, higher than the roughly 10 …

  Bloomberg MetLife Inc., the largest US life insurer, elected David Herzog, the former chief financial officer of American International Group Inc., to its board of directors. The addition brings the total number of directors to 13, with 12 being independent, the New York-based insurer said in a statement. Herzog is also a director for Ambac Financial Group Inc. and …

  Bloomberg Credit Suisse Group AG is reorganizing its European investment banking and capital markets business and cutting some jobs, a move prompted in part by Britain’s decision to leave the European Union. The Zurich-based lender will cover large, global companies domiciled in the UK through industry teams, Marisa Drew and Mark Echlin, who lead the bank’s investment banking and …

  Bloomberg African banks are sinking deeper into trouble. Drowning in bad debt and swamped by slowing economies, more and more of the continent’s lenders are starting to fail. The collapse of a Ugandan bank, said to be an acquisition target of Bob Diamond’s Atlas Mara Ltd., is adding to woes stalking the industry from Mozambique to Nigeria. High interest …