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  Bloomberg European banks need to sell hundreds of billions of euros in loss-absorbing liabilities over the next few years to meet European Union rules designed to protect taxpayers from the cost of bank failures. The European Banking Authority estimates as much as 470 billion euros (US$517 billion) of financing is needed under the most conservative assumptions for what qualifies ...

  Bloomberg Nordea Bank AB expects pressure on its lending income to abate as Chief Executive Officer Casper von Koskull predicts the rest of the year will show an improvement in the bank’s results. “Despite low growth and turbulent financial markets, revenues are holding up well,” Chief Executive Officer Casper von Koskull said in the statement. “Margin pressure in net ...

  BLOOMBERG Deutsche Bank AG expects the UK to lose its ‘passporting’ rights, which allows banks to sell their services in the European Union, after the country voted to leave the trade bloc, Business Insider reported, citing an internal document. In the confidential note prepared for a July 5 board meeting, Deutsche Bank sees a “first-mover advantage” because a “synchronised ...

  Bloomberg Skye Bank Plc, whose top management was replaced by regulators this month, surged for a second day following a report that a major debtor reached an agreement that may help it repay the Nigerian lender. The stock closed up 9.1 percent to 72 kobo in Lagos, the best performer on the 171-member Nigerian Stock Exchange All-Share Index. Almost ...

  Bloomberg The European Union’s top court backed EU guidelines designed to prevent taxpayers from footing the bill for bailing out stricken lenders, strengthening the hand of Brussels regulators as Italy fights to shield some bondholders caught up in the nation’s banking crisis. Tuesday’s decision is a show of support for the European Commission, which updated its crisis rules for ...

  Bloomberg United Continental Holdings Inc.’s second-quarter profit exceeded analysts’ estimates as lower fuel and operating costs overcame weak fares. Adjusted earnings of $2.61 a share beat the $2.56 average of analyst estimates. United said that it plans to trim growth for 2016 and now sees full-year capacity increasing no more than 1.5 percent from last year, compared with the ...

  Bloomberg With stores from near the Arctic to the foothills of the Caucasus Mountains, Magnit PJSC would be the first to know when the Russian consumer is back. Instead, the nation’s largest supermarket chain has just come across something it’s never seen. Billionaire Sergey Galitskiy’s retailer, which operates almost 13,000 outlets in Russia, said the average purchase has fallen ...

  Bloomberg Spotify, a digital music service provider, is tailoring its service for local tastes, from topical playlists to tiered pricing, as it prepares to expand its music streaming in Asia market. That strategy includes beefing up content such as Korean pop music popular in Southeast Asia and offering different payment methods in markets where credit cards are rare, said ...

  RIO DE JANEIRO / AP New, stricter security checks were implemented in Brazilian airports this week, stalling travellers and delaying flights less than three weeks before Rio de Janeiro hosts the Olympics. Starting early morning, long, chaotic lines formed at Congonhas regional airport in Brazil’s biggest city, Sao Paulo. Within a half-hour, more than 700 people were waiting on the ...

  London / AP China and Russia are making their presence felt in the multibillion-dollar aviation market. With demand for single-aisle aircraft expected to grow for years to come, particularly from Asia, some experts think the new firms have a real chance at cracking the market, especially if they have the backing of their national governments. But it won’t be easy ...