Bloomberg Wells Fargo & Co’s Tim Sloan warned investors that the firm’s net interest income (NII) would be less than analysts are predicting, and shares of the company dropped the most in more than a month. Fourth-quarter NII will be flat compared with the previous three months, when the bank collected $12.6 billion in interest, the chief executive officer said ...

Bloomberg Money-market traders, already having written off a hike at Wednesday’s Bank of Canada (BOC) meeting, are beginning to doubt that policy makers will pull the trigger next month either. While the Federal Reserve is widely expected to proceed with another quarter-point interest-rate increase in two weeks, overnight index swaps are pricing in just 16 basis points of tightening by ...

Bloomberg Airbus SE is set to renew a long-running battle with Boeing Co. to supply tanker planes to the US Air Force after partnering with American defense giant Lockheed Martin Corp. The companies said they’ve agreed to pitch Airbus’s A330 jetliner-based multi-role tanker transport, or MRTT, to plug a shortfall in the Air Force’s mid-air refueling capabilities and also develop ...

Bloomberg Ryanair Holdings Plc is facing “enforcement action” by Britain’s regulator after the discount carrier rejected passenger compensation claims linked to flight disruption from strikes this summer. The walkouts didn’t amount to extraordinary circumstances and Ryanair should therefore have compensated customers in line with European Commission regulations, the Civil Aviation Authority said in a statement, adding that it warned the ...

Bloomberg After striking a pugnacious tone at Unilever’s capital markets day last year, Paul Polman extended an olive branch in his final investor presentation as chief executive officer of the consumer-goods giant. Polman, who’s preparing to hand over to Alan Jope in January, told analysts and shareholders that he’d been texting his wife Kim about how to leave things. Her ...

Bloomberg Swedish home improvement chain Clas Ohlson will close all its stores in the UK and Germany following years of losses at its operations there and as the retail market increasingly shifts to online sales. The closures will affect about 150 employees, cost some $23 million, and set forth a “completely new direction” for the company’s operations outside the Nordics, ...

Bloomberg The leader of a French pilots’ union who emerged as a poster boy for strikes at Air France has lost his bid for re-election within the group, heralding a possible unblocking of labour talks at the troubled carrier. Philippe Evain, head of the airline’s powerful SNPL union, lost a majority in an election, a union spokesman said by phone. ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received on Tuesday, the UAE Passport Power team from the Ministry of Foreign Affairs and International Cooperation (MOFAIC), in the presence of HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and ...

Dammam / Emirates Business Saudi Aramco has awarded a major simulation and well-testing contract to Baker Hughes — a GE company — to be a partner in optimising production from new and existing wells across conventional fields in Saudi Arabia. Demonstrating the strength and breadth of its expertise and portfolio of oilfield services, BHGE will deliver a comprehensive well services ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) held discussions with a delegation from Lombardy in Italy on opportunities to enhance economic and trade relations between the investment companies and institutions that operate in Sharjah and their counterparts in Italy, and reviewed ways to support partnerships between the two sides in various economic sectors and fields. The ...