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Bloomberg One of Sweden’s main financial-worker unions says the job cuts announced in October by Nordea Bank AB are just the beginning of a transformation that’s about to hit the whole industry as more financial firms come to rely on digital solutions. The Nordic region’s biggest bank has yet to reveal to its staff who exactly will be affected by ...

Bloomberg If you can’t beat ‘em, join ‘em. That’s the calculation Australia’s biggest banks and the government have made in deciding to cave in to pressure for a public inquiry into alleged misconduct in the financial industry. After months of denouncing the idea of a Royal Commission as an expensive waste of time, the big four banks staged a backflip ...

Bloomberg A second daily surge in Europe’s overnight benchmark rate, which banks use to provide loans to one another, sparked widespread speculation among traders about the trigger, though there were no signs of wider funding stress. Some traders attributed the jump in the Eonia rate to possible year-end funding squeeze at some lenders, while others pinned it down to demand ...

Bloomberg Royal Bank of Scotland Group Plc will close 259 more branches across Britain in its latest round of cuts as customers shift to online banking. Outlets under both the NatWest and Royal Bank of Scotland brands will close in the middle of next year, resulting in about 680 job cuts, the company said. RBS said it will use the ...

Bloomberg Air France-KLM Group and Jet Airways India Ltd. agreed to deepen an existing partnership with offerings on India- Europe routes together, giving the biggest European airline more seamless access to the world’s fastest growing major aviation market. The latest deal will offer travel options for 44 cities in India and 106 destinations across Europe, Jean-Marc Janaillac, chairman of Air ...

Bloomberg Norwegian Air Shuttle ASA’s Argentine unit is planning direct flights from Buenos Aires to Los Angeles, New York and Istanbul as part of a $4.3 billion expansion in the South American country over the next 10 years. The discount airline is also eyeing service to such cities as Dallas, Honolulu and Johannesburg, said Ole Christian Melhus, head of Norwegian’s ...

Bloomberg India plans to exclude more than half of the $7.6 billion debt owed by the struggling national airline to help burnish its appeal as PM Narendra Modi presses ahead with a sale, people with knowledge of the matter said. The government proposes to transfer all of Air India Ltd.’s non-aviation assets and short-term loans of as much as $4.7 ...

Bloomberg American Airlines Group Inc. and its pilots union reached an agreement that will allow the carrier to avoid cancelling flights during the holiday travel season after it allowed too many aviators to take vacation by mistake. The carrier and the Allied Pilots Association didn’t immediately disclose details of their pact but said it should ensure that American, the world’s ...

Bloomberg One of the first Mexican retailers to sell online is quickly falling behind newer arrivals, and it may be too late to catch up, according to Credit Suisse. El Puerto de Liverpool, which conducted its first e-commerce transaction in 1997, is spending just a fraction of the amount as Amazon.com Inc., MercadoLibre Inc. and Wal-Mart de Mexico SAB on ...

Dubai / WAM The combined value of the 11,755 active construction projects in the UAE has exceeded $818.2 billion (around AED3 trillion) in November 2017, according to latest UAE Construction Analytics report issued by BNC Network, the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region. This makes the UAE, which ...