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SHANGHAI / Reuters China’s planned tariffs on US business jets may do little to buoy rivals despite concerns the moves could create an unequal playing field in the fast-growing China market, aviation executives said in Shanghai. China announced retaliatory tariffs against key US imports, among which is a proposed 25 percent tariff on US aircraft with an “empty weight” of …

Bloomberg Norwegian Air Shuttle ASA CEO and co-founder Bjorn Kjos said the discount carrier being pursued by rival IAG SA isn’t for sale, reiterating a stance long held by the former fighter pilot who has a 27 percent stake. “I haven’t thought about selling at all” even though many companies have shown interest in acquiring Norwegian Air, Kjos said. Having …

BEIJING / Reuters An Air China flight bound for Beijing made an unscheduled landing in the central Chinese city of Zhengzhou on Sunday after a passenger threatened a flight attendant with a fountain pen, the country’s civil aviation authority said. In a brief statement on its website, the Civil Aviation Administration of China said a male passenger on Air China …

Bloomberg Billionaire Isaac Larian, the toy marketer whose lineup includes Little Tikes and Bratz dolls, offered to save part of Toys ‘R’ Us from liquidation with an almost $900 million bid for stores in the US and Canada. Larian would pay $675 million and $215 million for outlets in Canada, he said. The funds will come from Larian himself and …

NEW YORK / Reuters Banks have not reaped the full benefit of US tax cuts, Wall Street executives said after a string of quarterly results, with expected business growth and higher consumer spending yet to materialise. Analysts and investors are still trying to work out the longer-term effects of the tax rewrite signed into law in December, which slashed the …

Bloomberg The recent game of musical chairs is continuing for bankers selling initial public offerings in Asia, with UBS Group AG the latest to announce changes. UBS appointed Hannah Malter as Asia head of equity capital markets syndicate, effective immediately, it said on Monday in an internal memo obtained by Bloomberg. Malter, who formerly worked as Asia-Pacific chief of staff …

Reuters Bank of America reported a 34 percent rise in first-quarter profit on Monday, topping Wall Street estimates, as the lender benefited from higher interest rates and growth in loans and deposits. Revenue rose at three of BofA’s four major businesses. In consumer banking, its biggest business, revenue increased 9 percent as higher interest rates helped BofA charge more for …

ATHENS / Reuters Greek banks will pass the European Central Bank’s (ECB) stress test of their financial health, the chief executive of the country’s second-biggest lender, National Bank (NBG), said on Monday. The ECB will publish the results of a stress test of Greece’s four largest lenders — Piraeus, NBG, Eurobank and Alpha — in May to allow time for …

Reuters A Swiss investor adviser group said Credit Suisse Group AG share-holders should vote against the bank’s 2017 compensation plan, splitting with overseas advisers that backed changes made following uproar last year. Ethos, which advises Swiss pension funds, also said investors shouldn’t support the re-election of Chairman Urs Rohner because renumeration changes were driven by management rather than the board, …

Bloomberg Deutsche Bank AG has been asked by the European Central Bank to simulate an orderly wind-down of its trading book, Chief Financial Officer James von Moltke told Bloomberg on Monday. “There’s no novelty about the exercise per se; the novelty is that we’re doing this with the ECB,” von Moltke said. The exercise will take several months, being “broader …