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Bloomberg Facebook Inc.’s investors are salivating over the revenue potential for the company’s chat businesses, Messenger and WhatsApp, after CEO Mark Zuckerberg said he’d like to move “a little faster” to make money from them. The company has warned that sales growth, fueled primarily by mobile advertising, will slow because it can’t keep loading ads into users’ news feeds on ...

Bloomberg Wells Fargo & Co., the lender struggling to overcome a fake-accounts scandal in its community bank, said the division’s new leader is cutting about 70 senior executive jobs. The lender will reduce the number of regional and area presidents to 91, Mary Mack, head of the retail bank, said Friday in a memo to staff, a copy of which ...

Bloomberg The Trump administration is considering nominating Fifth Third Bancorp’s top lawyer to lead a key banking regulator, people familiar with the matter said. Jelena McWilliams has had several meetings in recent weeks with administration officials about running the Federal Deposit Insurance Corp., the people said. Though she hasn’t been formally offered the position, she is a leading candidate, they ...

Bloomberg Jes Staley finally has the Barclays Plc he wants. But it cost him. The lender posted a net loss in the second quarter, driven by the cost of selling down its Africa unit and an unexpected charge for the payment protection insurance scandal. The bank said it now aims to earn a return on tangible equity of more than ...

Bloomberg To feed its clients’ insatiable desire for loans, Morgan Stanley is hoping to gather fresh cash by offering savers the country’s top rate for certificates of deposit. An 11-month CD with a 1.9 percent annual percentage yield is available from Friday through Sept. 18, according to a term sheet whose contents were confirmed by Morgan Stanley spokeswoman Christy Jockle. ...

Bloomberg Halfway through Tidjane Thiam’s three-year restructuring plan, Credit Suisse Group AG is gaining traction. Switzerland’s second-largest lender reported a 78 percent increase in second-quarter profit, to 303 million francs ($312 million), as clients added about 11 billion francs in new money to its main wealth management units. Lower expenses lifted profit at the global markets trading business, still the ...

Bloomberg Delta Air Lines Inc., China Eastern Airlines Corp. and Air France-KLM Group are reaching for their checkbooks to forge a deeper global alliance. The US and Chinese carriers will each buy a 10 percent holding in Europe’s biggest airline. At the same time, Air France-KLM will take a 31 percent stake in the UK’s Virgin Atlantic Airways Ltd., in ...

لآloomberg If you think the government should do something about the cramped legroom on airplanes, you’ve got a friend in a federal court. The US Court of Appeals in Washington, D.C., ordered aviation regulators to consider setting minimum standards for the space airlines give passengers. “This is the Case of the Incredible Shrinking Airline Seat,” Judge Patricia Ann Millett wrote ...

Bloomberg Singapore Airlines Ltd. returned to a profit after a surprise loss in the last quarter, helped by a surge in the number of passengers and a recovery in the air cargo market. The main Singapore Air brand and all other divisions, including the budget-carrier unit, the cargo unit and an engineering company, all posted a profit at the operating ...

Bloomberg British Airways (BA) parent IAG SA and its biggest competitor Air France-KLM Group both boosted second-quarter earnings around 50 percent amid strong demand for business travel on routes to Asia and Latin America. Europe’s two largest airlines are benefiting from higher long-haul prices as rivals that are focused on shorter routes see fares crimped by overcapacity. IAG said earnings should ...