Bloomberg With the European Central Bank’s (ECB) next policy update less than two weeks away, the institution’s chief is expressing both confidence and patience about achieving its inflation goal. “We are confident that as the conditions will continue to improve, the inflation rate will gradually converge in a self-sustained manner, as we’ve defined many times, and in a durable way ...

DUBAI / Reuters Saudi Arabia’s central bank may raise the maximum loan-to-deposit ratio for commercial banks if that is needed to help the economy, central bank governor Ahmed al-Kholifey told Al Arabiya television. Kholifey was speaking on the sidelines of meetings of the IMF and the World Bank in Washington. The central bank last raised the ratio in February 2016, to ...

Bloomberg Barclays Plc will need to defend its advantages in the payments business from encroachment by technology companies including Amazon.com Inc. and Apple Inc., according to Chief Executive Officer Jes Staley. “There are some tectonic shifts going on, driven by tech and the geopolitical environment,” Staley said during a panel discussion on Saturday at the annual meeting of the Institute ...

Bloomberg Thailand’s already “very accommodative” monetary policy is fueling robust growth that’s spreading across the economy, said Bank of Thailand (BoT) Governor Veerathai Santiprabhob. The outlook comes as an exports revival in Thailand gains momentum despite a recent rise in the nation’s currency, the baht. Better demand from key trading partners is helping to offset strength in the exchange rate, ...

Bloomberg Bank of America Corp. (BofA) returned to its five-year-old practice of trimming staff, resuming a trend that had only reversed for a single quarter. The nation’s second-largest bank by assets reduced its total employee count in the third quarter by 1,065 — or 0.5 percent — to just under 210,000 people. The firm added jobs earlier this year for ...

Bloomberg The Harvey Weinstein drama has reached Wall Street. Goldman Sachs Group Inc. is exploring options for its less-than $1 million stake in Weinstein Co., the film studio that Harvey co-founded with his brother Bob, according to bank spokesman Andrew Williams. Harvey was booted from the studio after allegations that he had assaulted women over decades. The bank was an ...

Bloomberg UBS Group AG wants to keep as many research analysts as possible in London after the UK exits the European Union, Chairman Axel Weber said. It will be the Swiss bank’s traders and sales people who, “in the end, need to move to the EU if the UK were to leave,” Weber said in a Bloomberg Television interview. Global ...

Bloomberg Sri Lanka’s central bank doesn’t see any pressure to tighten policy even as inflation accelerates on the back of a severe drought and poor weather, Governor Indrajit Coomaraswamy said in an interview. “We feel our monetary policy stance at the moment is OK,” Coomaraswamy said in an interview in Washington. “There is no demand side pressure that we see.” ...

Bloomberg US authorities ordered inspections of some engines powering Airbus SE’s A380 superjumbo jet after one of the turbines blew apart last month during an Air France flight. The Federal Aviation Administration determined there was an “unsafe condition” that “is likely to exist or develop in other products of the same type design,” according to the directive posted on its ...

Bloomberg Virgin Atlantic Airways Ltd. has transferred one of its daily trans-Atlantic flights to US ally Delta Air Lines Inc. so that some of its own Boeing Co. 787 Dreamliner planes can be grounded for an engine fix. Delta took over the London Heathrow-New York John F. Kennedy International service and will operate it until October 31 using older Boeing ...