Bloomberg Tesco Plc shares surged the most in almost two years as CEO Dave Lewis vowed to double the UK supermarket’s profit margins in the next three years, helped by an additional 1.5 billion pounds ($1.9 billion) in cost cuts and more premium items. The stock rose as much as 11 percent to 210.15 pence, the highest since August ...

  AFP German airline Air Berlin said on Wednesday it would discuss transferring part of its fleet to a new group founded by package tour giant TUI and Gulf carrier Etihad as part of a major overhaul. Air Berlin will discuss bringing 35 of its aircraft, including 14 already leased from TUI subsidiary TUIfly, into a “new airline group to ...

  Bloomberg Brazilian companies such as Embraer SA and Marcopolo SA are scrambling to close multibillion-dollar deals to sell planes and buses to Iran, seeking to navigate remaining U.S. financial sanctions, senior officials have said. The plane-maker is in advanced negotiations to sell at least 20 E195 jets with a total list price of more than $1 billion, while the ...

Bloomberg Ryanair Holdings Plc will add 10 new routes from Hamburg next summer as the low-cost giant seizes on a meltdown at Air Berlin Plc to offer 20 percent more flights in Germany in 2017. Ryanair will open a base in Hamburg next month, stationing two jets there and adding seven routes from the north German city to take the ...

  Bloomberg The proposed United Nations accord to limit pollution from international flights could cost airlines billions. For passengers, the price may be less than an in-flight glass of pinot noir. Airlines estimate the measure being debated this week in Montreal will cost the industry between $2.9 billion and $12.4 billion annually by 2030. Based on a handful of sample ...

  Bloomberg Barclays Plc agreed to sell its Egyptian business to Morocco’s Attijariwafa Bank as the British firm shrinks its global operations and speeds up the sale of unwanted assets. The deal will probably be completed by the end of this year, the London-based lender said in a statement. The disposal will boost the bank’s common equity Tier 1 ratio ...

  Emirates Business Saxo Bank Group (‘The Group’) reported a net profit of DKK 158 million for the first six months of 2016. During the same period, client collateral deposits continued to rise, increasing by DKK 6 billion, compared to H1 2015, to reach a record high of DKK 82 billion. The operating income for the group reached DKK 1.5 ...

  Bloomberg Citigroup Inc., seeking to move beyond a 2014 fraud case in Mexico and settle doubts over its commitment to the nation, plans to rename its local unit Citibanamex and invest $1 billion over four years in technology and branch upgrades. “These investments in Citibanamex reaffirm our commitment to Mexico and our confidence in its prospects,” Chief Executive Officer ...

  Bloomberg European banks are preparing a fresh round of bloodletting — with some 20,000 jobs set to go — as tougher rules and negative interest rates weigh on profits. ING Groep NV will slash 5,800 positions over five years as it focuses on Internet and mobile banking and automates systems, the Amsterdam-based lender said. Last week, Germany’s Commerzbank AG ...

  Bloomberg When it comes to speculation about German government support for Deutsche Bank AG, Chancellor Angela Merkel has no good answer. After years spent leading the push for new European Union rules to contain banking crises without putting taxpayers on the hook, you might expect Merkel to rule out state aid for Deutsche Bank. She hasn’t, even though that ...