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Reuters Austria’s Oberbank will sign a deal with Iran this month enabling it to finance new ventures there, its chief executive said, among the first European lenders to do so since sanctions were eased. The deal Tehran struck in 2015 with six major powers lifted many sanctions in exchange for restrictions on its nuclear activities and technically paved the way ...

Bloomberg Australia’s banking regulator will probe whether cultural, governance and pay structures contributed to a string of scandals at Commonwealth Bank of Australia (CBA). The inquiry, commissioned after allegations the country’s biggest lender repeatedly breached anti-money laundering laws, will focus on identifying any internal shortcomings at the bank and make recommendations for change, the Australian Prudential Regulation Authority said. A ...

Bloomberg China’s central bank will effectively remove a reserve requirement for trading foreign currency forwards—a move that may slow the pace of yuan appreciation after its biggest two-week surge in at least a decade— according to people familiar with the matter. Effective September 11, the People’s Bank of China will stop requiring financial institutions to set aside cash when buying ...

Bloomberg As Hurricane Irma approaches Florida, lenders including Wells Fargo & Co. and Bank of America Corp. are making plans to move a small number of mobile teller machines into the state to provide some customers with much-needed cash amid expected power failures. Two Wells Fargo trucks equipped with automated teller machines that were destined for Texas have been rerouted ...

Bloomberg Boeing Co. and Airbus SE voiced concerns about a proposed tie-up of two leading suppliers, potentially upsetting United Technologies Corp.’s $23 billion acquisition of Rockwell Collins Inc. The world’s largest planemakers added to the chorus of skeptics of a deal that would create an aerospace behemoth with a range of products to outfit jetliners and warplanes. Investors sent United ...

Bloomberg The Platinum Group Pcl, whose wholesale fashion mall in Bangkok attracts about 15 million people yearly, expects booming Chinese tourism to support its retail shopping centre due to open next year. The firm is investing about $180 million in the project and is banking on the deep pockets of Chinese visitors to woo retailers, according to President Chanchai Phansopha. ...

Bloomberg Ryanair Holdings Plc is rolling back its unusually generous carry-on policy after the budget airline’s customers proved more penny-pinching than expected by cramming too many bags onto the planes and causing delays. The Dublin-based carrier, which allowed two free bags in the cabin, will permit only one carry-on starting Nov. 1, with the second bag having to be checked ...

Reuters The US Transportation Security Administration (TSA) said it is issuing a new security directive requiring enhanced screening of cargo from Turkey. The change was “to adequately address emerging threats to cargo and raise the baseline for global aviation security,” TSA spokesman Michael England said. The directive mandates voluntary measures already in use by Turkey and will ensure “cargo flying ...

Bloomberg JetBlue Airways Corp. is looking for more supermarket clerks and accountants to train to fly its planes as the US airline industry copes with a looming pilot shortage. The New York-based carrier said its first-in-the-US training programme that turns people with little or no flying experience into commercial jet pilots has been so successful that it’s seeking a second ...

DUBAI / WAM Growth in the UAE non-oil private sector economy climbed to the fastest pace seen since February 2015, bolstered by sharp expansions in new orders and output, according to the latest UAE PMI survey. The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the ...