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Bloomberg Commerzbank AG vowed to restore revenue growth after posting its weakest fourth quarter in four years as competition for corporate clients weighs on Chief Executive Officer Martin Zielke’s turnaround plan. Revenue for the group declined 3.3 percent to 2.04 billion euros, the Frankfurt-based lender said. “Commerzbank will concentrate on further growth in the core segments, and is targeting higher ...

Bloomberg Royal Bank of Scotland Group Plc (RBS) plans to award shareholders a special dividend as the British lender seeks to assuage concerns with the UK’s departure from the European Union looming. The bank, which required one of the costliest bailouts in financial history, swung to a better-than-expected profit before tax of 572 million pounds ($733 million) in the fourth ...

Bloomberg Credit Agricole SA’s trading revenue plunged in the fourth quarter, extending a tough quarter for French investment banking after volatile markets at the end of the year kept clients on the sidelines. Capital-markets and investment-banking revenue declined 29 percent in the last three months of 2018, led by fixed income. However, the lender’s earnings are less dependent on investment ...

Bloomberg It was supposed to be China’s answer to JPMorgan Chase & Co. But less than five years after China Minsheng Investment Group Corp. (CMIG) outlined plans to become a financial colossus, the company has instead turned into a symbol of the turmoil sweeping China’s once-vaunted private sector. After shocking investors with a missed bond payment last month, CMIG has ...

Bloomberg Lenders to Jet Airways India Ltd. proposed a bailout of the beleaguered carrier, potentially paving the way for a revival of the airline that was on the verge of collapse. Mumbai-based Jet Airways, which needs 85 billion rupees ($1.2 billion) to help it get back on its feet, will be revamped with banks becoming the biggest shareholders of the ...

Bloomberg IndiGo, an Indian budget carrier, is canceling dozens of flights every day over the next two months as it struggles to find enough skilled pilots following an aggressive expansion binge, according to reports. Pilots at Asia’s biggest low-cost airline by market value have exhausted their annual limit on flying hours earlier than expected, leading to the chaos, the people ...

Bloomberg Longreach Group, the buyout firm founded by former UBS Group AG investment banker Mark Chiba, is considering an initial public offering of its jewelry business Primo Japan Inc., reports said. The owner has been working with Nomura Holdings Inc. to explore options that could also include a sale of the Tokyo-based diamond ring seller, the people said. Any deal ...

Bloomberg Bombardier Inc. jumped the most in almost three months after the company surpassed analysts’ expectations for cash flow and reaffirmed its 2019 forecast, steadying the outlook after a disastrous earnings report three months ago. Free cash flow reached $1.04 billion in the fourth quarter, Bombardier said in a statement. That exceeded the $890 million average of estimates compiled by ...

Bloomberg Southwest Airlines Co. declared an “operational emergency” because of an unusually high number of aircraft taken out of service for maintenance, and ordered all scheduled mechanics to show up for work or risk being fired. Workers “alleging illness” will be required to provide a doctor’s note on their first day back at work, the airline said in a memo. ...

Bloomberg PT Pertamina, Indonesia’s state-owned energy company, reduced the price of jet fuel sold at the nation’s airports after President Joko Widodo ordered a review following complaints about high air fares blamed on soaring fuel costs. The retailer lowered the price of fuel sold at Jakarta’s Soekarno-Hatta airport by 3 percent to 7,960 rupiah per liter (56 cents) from Saturday, ...