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Bloomberg European banking stocks have been punished like no other sector in the region this year. Unless you’re expecting a financial crisis, now may be the time to take advantage of valuations near a two-year low, according to strategists at Citigroup Inc. Fearful of potential contagion from Turkey, investors accelerated their flight from the Stoxx 600 Banks Index in the ...

Bloomberg About a decade after Swiss bank secrecy laws started to crumble under the impact of a US investigation, one of the last large lenders still entangled in the matter agreed to settle the dispute. Zuercher Kantonalbank, Switzerland’s largest publicly-owned regional bank, will pay $98.5 million as part of a deferred prosecution agreement with the Department of Justice to end ...

Bloomberg Air France-KLM Group is close to naming a CEO after a three-month search, with Ben Smith from Air Canada emerging as a leading candidate, according to a person familiar with the matter. The board will meet later this week and could finalise a decision then, said the person, who asked not to be identified discussing a non-public matter. Smith, ...

Bloomberg The US Transportation Security Administration (TSA) will address any vulnerabilities that are exposed by the theft and fatal crash of a small airliner near Seattle on Friday, the agency’s top official said. Speaking at a business travel conference in San Diego, TSA Administrator David Pekoske said the agency is supporting a probe of the incident, which is being led ...

Bloomberg Tapestry Inc. wants its handbags and boots to conquer Asia. The house of fashion brands, which owns Coach, Kate Spade and Stuart Weitzman, has taken measures to gain more control over its business in the booming region, where in some cases it didn’t own the local operations that distribute and sell the products. Tapestry has signed purchase agreements to ...

Bloomberg Blackstone Group LP is in talks to buy a stake in the loyalty programme of Jet Airways India Ltd., the troubled Indian carrier that’s exploring options to raise cash, people with knowledge of the matter said. The private equity firm has expressed interest in a deal that could value Jet Privilege Pvt at about 30 billion rupees ($429 million) ...

Bloomberg Cerberus Capital Management is among parties holding talks to acquire a stake in Swissport Group as embattled Chinese conglomerate HNA Group Co. weighs options for the airport luggage handler, people with knowledge of the matter said. HNA is working with advisers to explore possibilities for Swissport including the sale of a majority stake in the business, according to the ...

Bloomberg Holly Golightly take cover: Tiffany & Co. is renovating its 10-floor New York City flagship store on Fifth Avenue. The jeweller plans to spend as much as 2 percent of its worldwide net sales on the renovation over the next three fiscal years, which could peg the total cost at as much as $250 million, according to Bloomberg calculations ...

Dubai / Emirates Business Emaar Properties recorded revenue for first half of 2018 of AED11.474 billion ($3.124 billion), 46 percent higher than H1 2017 revenue of AED7.866 billion ($2.142 billion), led by strong construction progress and growth in malls business. Emaar’s net profit grew by 18 percent to AED3.344 billion ($910 million), prior to considering the effect of IPO of ...

Bloomberg India’s trade deficit in July widened to the most in more than five years, worsening the outlook for the rupee that hit a record low after a Turkish lira-led sell-off in emerging-market currencies. The trade deficit — gap between exports and imports — was $18 billion in July, fanned by a higher oil import bill, data released by India’s ...