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Bloomberg The Estonian laundromat scandal has been on Danske Bank A/S investors’ radar for more than a year. But last week, everything changed. News of a US Department of Justice investigation has caused panic. The bank’s shares were dumped and some bondholders are even wondering whether Danske might start having trouble making interest payments on its riskiest debt. At Swedish ...

Bloomberg China’s central bank cut the amount of cash lenders must hold as reserves for the fourth time this year, as policy makers seek to shore up the economy amid a worsening trade war. The People’s Bank of China lowered the required reserve ratio for some lenders by 1 percentage point, effective from October 15, according to a statement on ...

Bloomberg Things are likely to get worse for Italian bonds before they get better. That’s the message from HSBC Holdings Plc after Italy’s government decided last week to set its 2019 budget deficit target at 2.4 percent, roiling markets. That has prompted Chris Attfield, a fixed-income strategist at the bank, to revise wider his year-end forecast for the yield spread ...

Bloomberg A global bond selloff has sent Japan’s benchmark yield to a level last seen when the central bank introduced its negative interest-rate policy in January 2016 to revive a weakening economy. The 10-year yield rose two basis points to 0.155 percent, after a rout in Treasuries that saw similar-maturity US yields jump to the highest level since 2011. The ...

Bloomberg Advisers to Mexico’s next president are starting to share a few details on this month’s public consultation on whether to proceed with the construction of a $13 billion airport for the nation’s capital. The unorthodox process will be carried out in two ways: a national face-to-face survey and a vote, Jesus Ramirez, spokesman for incoming president Andres Manuel Lopez ...

Bloomberg Pentagon weapons buyer Ellen Lord has approved plans to begin full combat testing of Lockheed Martin Corp.’s F-35, a major step toward full production of the fighter jet planned for next year. Lord, the under secretary for acquisition, “certified readiness to enter operational testing after concurring” with the F-35 program manager’s recommendation to start in mid-November, her spokesman, Air ...

Bloomberg The all-important holiday season is fast approaching, and there’s very little JC Penney Co.’s incoming chief executive officer can do about it. The struggling department-store chain named its new CEO, retail veteran Jill Soltau, with less than three months of 2018 holiday shopping to go. JC Penney’s orders for the critical period were placed months ago, giving her little ...

Emirates Business SriLankan Airlines has achieved the remarkable feat of being named the world’s most punctual airline in the month of September 2018 in the key categories of ‘Global Airlines’ and ‘Major Airlines’, by the flight data analysis company Flightstats.com. An extraordinary 91.37% of SriLankan Airlines’ flights in September 2018 were on time according to an analysis by Flightstats. Flightstats ...

Bloomberg Watch out dollar stores, Target Corp. wants to steal your shoppers. The Minneapolis-based retailer is introducing Smartly, a line of essentials and personal-care products mainly priced under $2, for budget-conscious consumers who don’t want to buy in bulk. It’s in step with Target’s strategy to offer new brands to get customers excited. It has added a dozen over the ...

ASH SHAHAR / WAM The Emirates Red Crescent (ERC) distributed food aid to 600 families, or about 3,000 persons, at Al Hami, Ash Shahar District in Hadramaut. This is in the framework of the ERC’s humanitarian project to restore normalcy to the lives of families facing dire humanitarian conditions. The assistance included basic humanitarian needs and foodstuff. The beneficiaries extended ...