Bloomberg The impact of Brexit on London’s financial sector came into stark relief as a judge approved plans by a UBS Group AG unit to shift some of its UK business — involving assets valued at more than 32 billion euros ($36.5 billion) — to Germany. The Swiss bank’s plans are a response to the “external shock” of Britain’s exit ...

Bloomberg Casper von Koskull, the chief executive officer of Nordea Bank Abp, says he has no intention of becoming a market leader when it comes to offering the fattest pay packages to entice talent. The comments come as the biggest Nordic lender revealed that the amount of money it set aside to pay bonuses to its employees slumped 31 percent ...

Bloomberg BNP Paribas SA cut revenue and profitability targets after the French bank was among the hardest hit by a stock market rout at the end of last year. France’s biggest lender is planning 600 million euros ($684 million) in additional cost cuts, focussing on the investment bank that Chief Executive Officer Jean-Laurent Bonnafe had targeted as a growth driver. ...

Bloomberg Iceland’s central bank kept its benchmark rate unchanged for a second meeting as policy makers face slowing economic growth while inflation remains far above target. The Central Bank of Iceland kept its key interest rate at 4.5 percent, according to a statement. The bank predicted that growth in the smallest Nordic economy will cool to 1.8 percent this year, ...

Bloomberg Apple Inc. named its third retail chief in seven years, seeking to shake up store operations while casting about for the next big hit as the iPhone era wanes. Apple said company veteran Deirdre O’Brien will replace Angela Ahrendts, who served in the role for about five years. O’Brien is the first insider tapped to run the Apple division ...

Bloomberg Boeing Co. was accused of negligence tied to a wildfire that tore through Malibu, California, in November and that purportedly started on the grounds of the nearby, disused Rocketdyne testing site. A group of homeowners sued Boeing along with Edison International, the parent of the utility they say was at fault in igniting the fire, in Los Angeles. They ...

Bloomberg Retail sales growth in the US is expected to slow down in 2019 amid cooling economic conditions, according to the National Retail Federation, an industry trade group. Americans will boost retail spending by 3.8 percent to 4.4 percent this year, the NRF said. For comparison, preliminary estimates show that sales rose 4.6 percent in 2018, according to the group. ...

Bloomberg Fullbeauty Brands Inc., the women’s plus-size retailer, set a record for the fastest US corporate bankruptcy after taking less than 24 hours to win court approval for its plan to restructure the company. The company had support from all its stakeholders when it filed for Chapter 11 status in the US Bankruptcy Court in White Plains, New York. Fullbeauty, ...

ABU DHABI / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), Supreme Chairwoman of the Family Development Foundation (FDF) and President of the Supreme Council for Motherhood and Childhood, stressed that the UAE is a nation of tolerance and peace whose foundations were laid by the late Sheikh Zayed bin Sultan Al Nahyan, and the ...

DUBAI / WAM Aramex, the leading global provider of comprehensive logistics and transportation solutions, on Tuesday announced its financial results for the fourth quarter and full year ending on December 31, 2018. The 2018 full year revenue increased by 8% to AED5,086 million, compared to AED 4,721 million in FY 2017. Aramex’s net profit in 2018 increased by 13% to ...