February, 2022

• 9 February

  FAA proposes shielding Boeing employees overseeing safety

  

    Bloomberg Regulators are taking steps to shield US aviation-industry engineers from the kind of company pressure that was revealed in investigations of the design flaw on the Boeing Co. 737 Max linked to two fatal crashes. The Federal Aviation Administration on Monday proposed new policies that would shield employees at Boeing and other planemakers who act on behalf of …

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• 9 February

  Rolls-Royce to hire 150 in Singapore

  

    Bloomberg Rolls-Royce Holdings Plc plans to hire around 150 people across its network of partners in Singapore as airlines start to bring back planes that were grounded during the pandemic and international travel picks up. London-headquartered Rolls-Royce expects about 80% of the planned expanded head count for this year will be for maintenance, repair and operations (MRO) ventures, Bicky …

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• 8 February

  New gauge shows US store stocks fall

  

    Bloomberg US store shelves got a little emptier in the last three months of 2021, according to data provider NielsenIQ, which is unveiling a barometer of out-of-stock goods amid ongoing supply constraints. On-shelf availability slipped to 93.5% during the 13 weeks ending December 25 at supermarkets, mass retailers, drug stores and dollar stores, NielsenIQ said. That was a percentage …

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• 8 February

  Airbus, Quebec set to invest $1.2bn in A220 jet program

    Bloomberg Airbus SE and the government of Quebec agreed on a $1.2 billion investment that allows the Canadian province to remain an owner of the A220 jet program for four additional years. The French plane maker committed to investing $900 million in the loss-making program while Quebec will put up $300 million, according to a statement. Under the deal, …

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• 8 February

  BNP’s payout pledge falls flat with investors as costs jump

  

    Bloomberg BNP Paribas SA’s joined European peers in pledging higher profitability and bigger shareholder returns, while struggling to contain a surge in costs that’s plaguing the industry. The Paris-based bank on Tuesday set a target for a return on tangible equity — a key measure of profitability — of more than 11% in four years’ time and vowed to …

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• 8 February

  Barclays to take on Credit Suisse wealth clients across Africa

  

    Bloomberg Credit Suisse Group AG will refer its private banking clients to Barclays Plc in nine African markets as the Swiss lender exits most of the sub-Saharan region. “Credit Suisse has signed a private banking client referral agreement with Barclays as part of the plan to exit nine non-core wealth management markets primarily in Sub-Saharan Africa, excluding South Africa,” …

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• 8 February

  US has more credit cards than ever as issuance rises in 2021

  

    Bloomberg US lenders issued more credit cards than ever last year, with a growing share of them going to consumers with lower credit scores. A record 196 million Americans held cards at the end of 2021, according to a report by credit-data agency TransUnion. In the third quarter, the latest for which detailed numbers are available, the number of …

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• 8 February

  Santander planning shake-up at US unit

  

    Bloomberg Banco Santander SA is planning to simplify the structure of its US operations by discontinuing businesses such as home loans and focusing on consumer lending. Spain’s biggest bank may also review some of its commercial and industrial business lending, it said in a presentation. Santander has been pivoting towards areas with scope for more profitable growth in the …

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• 8 February

  State Bank of India profit in Q3 up 62%

    Bloomberg State Bank of India’s (SBI) profit rose 62% in the third quarter helped by strong lending as the pandemic eased. Net income at the state lender was 84.3 billion rupees ($1.1 billion) in the three months through December, compared with 51.96 billion rupees a year ago, it said in a statement. That beat the average estimate of 82.59 …

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• 8 February

  Malaysia central bank signals patience on rates

  

    Bloomberg Bank Negara Malaysia signalled it’s not yet ready to withdraw policy support as the economy recovers, steering clear of the hawkish pivot undertaken by major central banks. The current policy stance is “appropriate and accommodative” and any adjustment will be data-dependent, Governor Nor Shamsiah Mohd Yunus said in an email interview. Headline inflation is expected to remain moderate …

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