September, 2016

• 1 September

  US to host world’s largest conservation meeting

  

    Miami / AFP Some 8,000 heads of state, policymakers and environmentalists convene in Hawaii this week for the world’s largest gathering aimed at forging a path forward on the planet’s toughest conservation problems. US President Barack Obama is expected to be among the world leaders in Honolulu as the International Union for the Conservation of Nature (IUCN) opens its ...

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• 1 September

  Cryan calls for bank mergers after Commerzbank pact

  

    Bloomberg Deutsche Bank AG Chief Executive Officer John Cryan urged more consolidation among European banks struggling to shore up profitability, after his own firm held talks with its biggest German rival earlier in August about a possible deal. “We need more mergers, at a national level but also across national borders,” Cryan said at a conference hosted by Handelsblatt ...

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• 1 September

  UK banks slammed for elitism as study shows shoe colour counts

  

    Bloomberg The British investment-banking industry is underpinned by entrenched elitism that blocks people from lower-income backgrounds winning jobs on the basis of ability, according to a report by a government advisory body. Recruiters seeking polished candidates who speak and dress a certain way often discriminate against applicants on the basis of details including shoe color and where they went ...

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• 1 September

  Deutsche Bank gains in Frankfurt trading

    Bloomberg Deutsche Bank AG extended gains in Frankfurt trading on a report Germany’s largest bank considered the sale of all or part of its asset management business as it explores strategic options to revive profit. While small parts of the asset management division could be sold, executives at the bank are keen to hold on to most of the ...

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• 1 September

  Bank of China posts US$6.9 billion profit

  

    Bloomberg Bank of China Ltd., the nation’s fourth-largest lender, reported a 3.4 percent increase in second-quarter profit even after setting aside extra provisions to boost its bad-loan buffer. Net income rose to 46.4 billion yuan ($6.9 billion) in the three months ended June 30, from 44.9 billion yuan a year earlier, according to figures derived from first-half numbers released ...

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• 1 September

  Europe bankers see $2.5bn of bonuses vanish in stock rout

  

    Bloomberg Investment bankers at Europe’s biggest securities firms are watching their bonuses melt. A rout in financial stocks this year has wiped more than $2.5 billion from the value of deferred shares that were paid as bonuses in the past few years at Barclays Plc, Credit Suisse Group AG, Deutsche Bank AG and UBS Group AG, data compiled by ...

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• 1 September

  Lufthansa, Air China to finalize venture

  

    Bloomberg Deutsche Lufthansa AG and Air China Ltd. plan to finalize a joint venture this month, sealing a deal to share revenue and coordinate routes after more than two years of negotiations, people familiar with the plan said. Lufthansa Chief Executive Officer Carsten Spohr will travel to Beijing to attend a signing ceremony scheduled for Sept. 20, said the ...

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• 1 September

  Qatar Airways CEO plans large aircraft order

  

    Bloomberg Qatar Airways said it’s poised to make a major jetliner purchase, adding to a backlog of more than 340 outstanding orders for Boeing Co. and Airbus Group SE planes. The Gulf carrier will place a “large” aircraft order “soon,” Chief Executive Officer Akbar Al Baker said at a briefing in Doha, without elaborating on the number or class ...

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• 1 September

  Aeropostale gets bid to keep 229 stores open

  

    Blomberg Aeropostale Inc., the bankrupt teen clothing chain, says a group including mall operators General Growth Properties Inc. and Simon Property Group Inc. has bid for “substantially all” its assets with an eye toward keeping at least 229 stores open. The so-called going concern bid would also cover expenses including Aeropostale’s bankruptcy financing, the company said in a filing ...

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• 1 September

  Korean Air estimates up to $344mn Hanjin-related losses

  

    Bloomberg Korean Air Lines Co. estimated losses on its investments in Hanjin Shipping Co., which applied for court receivership, at more than a third of projected operating income for this year. Losses on loans and an equity stake in the container shipping line will be as much as 383.3 billion won ($344 million), Korean Air Lines said in a ...

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