September, 2016

• 28 September

  Delta mulls $2.3bn plane purchase for regional fleet

  

    Bloomberg Delta Air Lines Inc. is studying a purchase of roomier regional jets with a list value of as much as $2.3 billion — provided the company can get the pilots’ union to accept an overhaul of the small-plane fleet. The Atlanta-based carrier told the Air Line Pilots Association it wants the option of adding as many as 50 ...

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• 28 September

  Wal-Mart in talks to invest $1bn in Flipkart

  

    Bloomberg Wal-Mart Stores Inc. is in advanced discussions to invest as much as $1 billion into India’s Flipkart Online Services Pvt. Ltd, as the two companies battle Amazon.com Inc. in e-commerce, according to a person familiar with the matter. Wal-Mart, the world’s largest retailer, would take a minority stake in Flipkart, the person said, asking not to be identified ...

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• 28 September

  Qantas warns of phone fire risk

  

    AFP Australian carrier Qantas has warned of the danger of mobile phones being crushed in reclinable plane seats and catching fire after one ignited during a US flight, according to a safety report on Wednesday. The findings came just weeks after Qantas and domestic competitor Virgin Australia, as well as other international airlines, told customers not to use or ...

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• 28 September

  American to clear flight, crew merger integration hurdle

  Bloomberg American Airlines is poised to clear one of the final major hurdles in the integration of US Airways on Oct. 1 when it meshes the flight operating systems of both carriers in a move that travelers shouldn’t notice. The change will unify 15,000 American, US Airways and America West pilots into one workforce and remove barriers that tied them ...

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• 28 September

  Corporate pilots skip safety checks on 18% of flights

  

    Bloomberg Corporate pilots routinely take off without performing required safety checks, a study of thousands of flights by a trade group has found. Prompted by the 2014 crash of a corporate jet that killed billionaire Lewis Katz, which occurred after pilots neglected to ensure their flight controls worked, the National Business Aviation Association discovered that similar lapses are common. ...

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• 28 September

  PSBC makes tepid debut on Hong Kong bourse

  

    AFP Postal Savings Bank of China (PSBC) made a low-key debut on the Hong Kong bourse on Wednesday, despite notching up the world’s biggest IPO in two years aimed at expanding the business. China’s fifth-biggest lender raked in a colossal $7.4 billion in the flotation, with a report in the Chinese language financial news portal Caixin saying a fund ...

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• 28 September

  World Bank reappoints Jim Yong Kim as president

  

    AFP The board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as president, the global lender announced. Kim had been the only candidate in a process criticized by World Bank staff and campaigners as lacking in transparency and dominated by the United States. In a statement announcing the decision, the Bank’s ...

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• 28 September

  RBS fined $1.1bn over pre-crisis mortgages

  

    AFP Royal Bank of Scotland (RBS) on Wednesday said it had agreed a fine of $1.1 billion (982 million euros) with US authorities over the alleged mis-selling of mortgage securities ahead of the 2008 financial crisis. It comes a week after US authorities said they would seek $14 billion from Deutsche Bank over similar allegations. “The Royal Bank of ...

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• 28 September

  Deutsche Bank rises as CEO sells Abbey Life for €1.1bn

  

    Bloomberg Deutsche Bank AG rose in Frankfurt trading after the German lender agreed to sell its U.K. insurance business for 935 million euros ($1.2 billion) and Chief Executive Officer John Cryan ruled out a capital increase. Responding to investor concerns that the bank may be forced to raise capital to meet mounting legal costs, Cryan told Germany’s Bild newspaper ...

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• 28 September

  Commerzbank could trim around 9,000 jobs

    AFP Germany’s second-largest lender Commerzbank could slash around a fifth of its staff in the coming years as part of a billion-euro restructuring programme, a German newspaper said. Chief executive Martin Zielke is to present his vision for the bank’s future up to 2020 — including some 9,000 job cuts — to fellow board members on Friday, according to ...

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