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Bloomberg Seven years “is more than enough time at any company that has to put up with me.” That’s George Culmer’s assessment as he steps down as chief financial officer of Britain’s largest mortgage lender. His comments may come as surprise to Lloyds Banking Group Plc chief Antonio Horta-Osorio, who has been at the bank just as long. “I am ...

Bloomberg DNB ASA dropped after third-quarter profit disappointed with income from its investment banking and trading declining. Norway’s biggest bank’s third-quarter net income failed to rise from a year earlier, ending at 5.44 billion kroner ($652 million) and missing a 5.67 billion-krone analyst estimate compiled by the bank. “There will be fluctuations from quarter to quarter, but regarding the investment ...

Bloomberg The Italian government would step in to help in the event of a crisis in the banking sector, Finance Minister Giovanni Tria said, echoing comments made by one of the country’s two coalition leaders earlier in the week. In the event of a crisis, the government “must in one way or another intervene; saying how isn’t possible, if a ...

Bloomberg Danske Bank A/S’s laundering scandal and a massive dividend-tax fraud now look set to influence elections due to be held in Denmark next year. The country’s politicians are promising major changes to how the financial industry will be policed. The goal is to appease voters stunned by the sheer scale of allegations against their country’s biggest bank, and by ...

Bloomberg Cathay Pacific Airways Ltd said a hacker accessed personal information of 9.4 million customers, becoming the target of the world’s biggest airline data breach. The airline’s shares sank the most in almost two years, shaving $201 million off its market value, after the Hong Kong-based carrier disclosed the unauthorised access, seven months after discovering the violation. While passports, addresses ...

Bloomberg Target Corp. is expanding perks like free two-day delivery to snag as much as possible of the $100 billion in sales the company sees up for grabs from retailers that have gone under. Chief Executive Officer Brian Cornell said he’s built “playbooks” to capture market share sacrificed by Sears, Toys “R” Us and others, and has also accelerated planned ...

Bloomberg Amazon.com Inc.’s scatter-shot attempt to shake up women’s fashion by launching a barrage of private label brands isn’t going so well, according to a report by Jungle Scout, a data-research firm for merchants on the e-commerce website. Apparel makes up 88 percent of all Amazon private label brands, but only 1 percent of all private label sales, according to ...

Bloomberg Norwegian Air Shuttle ASA is closing in on a deal that would provide a potential $1 billion infusion of cash to help it navigate increasing fuel prices and the slow winter period, according to people familiar with the matter. The Oslo-based carrier said that it is in “advanced discussions” with an unnamed partner to create a fleet joint venture ...

Bloomberg Metro AG, the German big-box retailer and wholesaler, is working with Citigroup Inc. and JPMorgan Chase & Co. to review options for its Chinese operations, according to people familiar with the matter. The business could be worth about $1.5 billion, based on earnings and the valuations of its rivals, the people said, asking not to be identified as the ...

Bloomberg Oil tumbled for a third straight week as crumbling equity markets across the globe stoked concern about a slowdown in energy demand growth. A 0.4 percent gain in New York-traded futures wasn’t enough to halt a 2.2 percent decline for the week. Eight of every 10 stocks in the S&P 500 were in retreat as a cavalcade of negative ...