May, 2017

• 27 May

  SBI to choose BofA, Deutsche, 4 others for $2 billion share sale

  

  Bloomberg State Bank of India, the country’s largest lender by assets, picked Bank of America Corp. and Deutsche Bank AG to arrange a share sale that could raise about $2 billion, people with knowledge of the matter said. The lender also chose IIFL Holdings Ltd., Kotak Mahindra Bank Ltd., JM Financial Ltd. and SBI Capital Markets Ltd. to work on ...

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• 27 May

  RBC’s City National helps fuel gains in wealth unit

  

  Bloomberg Royal Bank of Canada’s (RCB) acquisition of City National Bank is paying dividends. The Los Angeles-based lender contributed C$77 million ($57 million) in profit for the fiscal second quarter, helping fuel a 12 percent jump in earnings for Royal Bank’s wealth-management division. This marks the fifth quarter of results since the Canadian lender bought Hollywood’s “bank to the stars” ...

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• 27 May

  ‘Philippines not in a race to raise rates’

  

  Bloomberg The Philippine central bank isn’t in a race to raise interest rates, incoming governor Nestor Espenilla said, despite economists’ predictions the country will be the first in Southeast Asia to do so. “It’s not a race to raise interest rates,” Espenilla, 58, deputy governor in charge of bank supervision, said in an interview. “Is it time to raise interest ...

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• 27 May

  Brazil’s ‘iron lady’ quits as head of BNDES

  

  Bloomberg Maria Silvia Bastos resigned as the head of Brazil’s state development bank (BNDES) amid a corruption scandal engulfing both the institution and President Michel Temer. The BNDES in a statement cited personal reasons for Bastos’ decision, without elaborating. Brazil’s currency and the Ibovespa stock index trimmed gains. Paulo Rabello Castro, an economist in charge of the national statistics agency ...

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• 27 May

  Barclays trader fired amid foreign exchange probe

  

  Bloomberg A Barclays Plc trader fired amid a global probe into foreign-exchange market manipulation lost his lawsuit against the bank after a judge ruled the lender was right to dismiss him for revealing confidential information to rivals and using sexually explicit, racist language in online chats. Barclays suspended Jack Murray in October 2013, shortly after regulators began probing banks suspected ...

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• 27 May

  Sberbank records $2.98bn profit as lending margin widens

  

  Bloomberg The Russian state-controlled behemoth reported net income of 167.8 billion rubles ($2.98 billion), beating estimates of 159 billion rubles by 10 analysts surveyed by Bloomberg. Earnings were boosted by a stronger net interest margin as the Russian central bank moved slowly to bring down borrowing costs. It was the third record profit in the last five quarters. Sberbank Chief ...

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• 27 May

  New airport scanners could end bans on laptops, liquids

  

  Bloomberg Manufacturers of airport security equipment have a message for travelers who fear they will have to give up laptops and tablet computers on international flights: They have a solution. At least four of the largest companies making screening devices say they are developing scanners so much better at detecting explosives than existing X-ray machines that passengers could leave laptops, ...

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• 27 May

  Ryanair to offer New York, Havana links with Air Europa deal

  

  Bloomberg Ryanair Holdings Plc will soon offer connections to destinations including New York and Havana, as the budget carrier widens its network of long-haul partners with a deal with Spain’s Air Europa. In the first stage of the cooperation starting Tuesday, Ryanair customers can book Air Europa tickets to 20 cities in the Americas via the Dublin-based carrier’s website, the ...

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• 27 May

  AirAsia CEO says it’d be ‘foolish’ not to look at C919

  

  Bloomberg AirAsia Bhd., the low-cost carrier that flies only Airbus SE planes, would consider using newly developed aircraft such as the Chinese-made C919 as the airline expands its fleet and destinations. “I think as an airline you have to look at everything,” AirAsia Group Chief Executive Officer Tony Fernandes said in a Bloomberg Television interview, when asked whether the carrier ...

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• 27 May

  Wizz Air hikes capacity as fares recover

  Bloomberg Wizz Air Holdings Plc plans to step up its expansion in Eastern Europe as slower capacity growth at local flag-carriers stung by higher fuel costs encourages a recovery in ticket prices. Budapest-based Wizz will add 6.6 million seats in the year that began April 1, lifting its capacity to about 33 million passengers. The increment represents about half of ...

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