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Bloomberg BNP Paribas SA reported the biggest fixed-income trading jump of all US and European banks in the first quarter, marking a rebound after recent losses and downgraded targets. Debt trading revenue unexpectedly rose 29 percent from the previous year, helped by growth in rates and foreign-exchange transactions, the French bank said. That helped BNP’s global markets unit — its ...

Bloomberg Hong Kong borrowing costs are expected to remain stubbornly high over the rest of the quarter, supporting the local currency. That’s according to Carie Li, an economist at OCBC Wing Hang Bank Ltd., who says the city’s shrinking cash pool is making banks more reluctant to lend. The one-month interbank rate, known as Hibor, has climbed to 2.07 percent, ...

Bloomberg Goldman Sachs has put off the German launch of its consumer bank — Marcus until next year because of the delay in Brexit proceedings as well as cost constraints, the Financial Times reported on Sunday, citing two people familiar with the situation. Had Brexit taken place on March 29 as it was planned earlier, Goldman Sachs would have “wanted ...

Bloomberg The National Transportation Safety Board (NTSB) will evaluate a range of factors that could help explain how a Boeing 737-800 plane arriving from Cuba slipped into a river after skidding off a runway in Florida, from human error to the weather to the airport’s systems. “We are very early in the beginning phase of this investigation,” Bruce Landsberg, NTSB ...

Bloomberg Hugo Boss reported a plunge in first-quarter earnings amid a weak US market, a stumble as the German clothing retailer aims for growth this year. Operating profit fell 22 percent on higher costs related to marketing, online operations and reorganisation. Still, the company maintained its forecast for growth at a high-single-digit percentage rate for the full year. The shares ...

Bloomberg Air France-KLM Group’s first-quarter loss more than doubled as fares fell and wages climbed following union deals struck by Chief Executive Officer Ben Smith after he took charge last year. The loss jumped to 303 million euros ($339 million) from 118 million euros a year earlier, with higher fuel costs and currency fluctuations also taking their toll. The loss ...

Bloomberg Apparel giant Gildan Activewear Inc is building a new manufacturing hub in Bangladesh, aiming to supply both Europe and a Chinese market that it described as “on fire.” The Montreal-based manufacturer of T-shirts and innerwear spent $45 million to buy land in the South Asian country, where it’s been since 2010 and currently employs 3,500 people. Gildan expects the ...

Bloomberg Neiman Marcus Group Inc is working with Lazard Ltd on the sale of luxury apparel platform MyTheresa, which may fetch more than 500 million euros ($560 million), people familiar with the matter said. Neiman said that it was evaluating options for MyTheresa, which has been at the centre of a dispute with creditors since the unit was effectively transferred ...

Bloomberg One of the last vestiges of traditional shopping habits is being laid to rest. Swedish fashion giant Hennes & Mauritz AB said it ceased publication of its print catalogue after 39 years with immediate effect. The move follows dwindling interest from customers in flipping through glossy pages of inventory when they can find the latest deals with their mobile ...

DUBAI / Emirates Business The UAE non-oil private sector recorded a sharp monthly improvement in business conditions — the greatest since December 2017, according to Emirates NBD Purchasing Managers’ Index. The composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy rose for the second month running in April, hitting 57.6 from 55.7 ...