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Bloomberg UBS Group AG expects the coronavirus pandemic to further boost consolidation in the banking sector amid increasing threats from low interest rates and intensified competition. “There are likely to be more mergers and acquisitions in the US and especially the European Union, with growing regulatory appetite,” UBS said in its annual report. Switzerland’s biggest bank also said it sees …

Bloomberg Poland’s central bank governor questioned the determination of commercial lenders to resolve their foreign-currency loans, saying there’s almost a zero percent chance of the industry working together to finalise out-of-court settlements. The central bank withdrew its observer from negotiations to iron out the deal, proposed by the financial regulator, and doesn’t have any ownership over the process, Governor Adam …

Bloomberg European Central Bank (ECB) supervisors have asked banks for details about outstanding loans to Greensill Capital and its client GFG Alliance, the Financial Times reported. Regulators are asking for the details as they try to determine whether the crisis is contained, report said. One person told the FT that the move was standard and did not reflect heightened concern. …

Bloomberg China’s main stock benchmark entered a correction on Monday, on concerns about liquidity conditions and lofty valuations in some of the recently favoured stocks. The CSI 300 Index falls 3.5% on Monday, piercing through its 100-day moving average and putting losses from its recent February 10 peak to 13%. Meanwhile, the nation’s ChiNext index, a gauge of small-cap stocks, …

Bloomberg The Nasdaq 100 Index extend losses, with futures falling as much as 2% in early European trading. Oil climbed after Saudi Arabia said the world’s largest crude terminal was attacked. Rising bond yields continue to dominate investor attention and fan concerns about lofty tech valuations. The global picture in equities was mixed on Monday, with losses in S&P 500 …

Bloomberg Germany agreed to compensate Vatenfall, RWE, EnBw and E.ON 2.4 billion euros ($2.9 billion) for losses suffered following the country’s decision to phase out nuclear power after the Fukushima Dai-Ichi meltdowns. The deal ends the decade-long battle between the government and Germany’s biggest energy companies. It comes in an election year when the green credentials of Europe’s largest economy …

Bloomberg The number of Boeing Co. 737 Max jets back in service has now topped 100 as airlines in the US, Brazil and Europe add more flights with the re-certified jet. More than 1,300 flights were logged in the week through March 3, with American Airlines Group Inc. operating almost 400 flights, according to data from aviation analytics firm Cirium. …

Bloomberg Deutsche Lufthansa AG is seeking to profit from UK’s plans to exit lockdown, with its Eurowings subsidiary to offer flights from the UK to Mallorca for the first time as Germany’s coronavirus vaccine rollout sputters. Eurowings will initially fly vacationers from Birmingham and Manchester to the Spanish island and back twice a week starting at the end of May, …

Bloomberg Virgin Galactic Holdings Inc. tumbled after its billionaire Chairman Chamath Palihapitiya offloaded shares worth about $213 million in the space-tourism company founded by Richard Branson. Palihapitiya, who has helped drive the frenzied growth of blank-check companies, disposed of 6.2 million shares at an average price of $34.32 this week, based on a filing with the US Securities and Exchange …

Bloomberg Discussion on the future of cash-strapped Alitalia entered a crucial phase, as talks with European authorities resumed, an early test of Italian Prime Minister Mario Draghi’s relationship with Brussels. The Italian government and the European Commission agreed to “work constructively together to find workable solutions on the Alitalia file,” a Commission spokesman said after Commission Vice President Margrethe Vestager …