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U.S. class actions pile up against Australia's Westpac amid money-laundering scandal

Australia's No.2 lender Westpac Banking Corp was hit with a second U.S. class-action lawsuit in less than a week on Monday, over issues with its financial crime monitoring amid a recent money laundering scandal.



4 years ago

Julius Baer sets sights on lowered costs after 2019 profit drop

Julius Baer set out new targets to improve its cost-income ratio by 2022, the bank said on Monday as it posted a 5% drop in adjusted net profit for 2019.



4 years ago

Healthineers first-quarter earnings lower on ramp-up costs

Siemens Healthineers' operating income slipped 11% in the first quarter of its fiscal year, despite higher revenues, as it sold less profitable imaging machines and incurred ramp-up costs for its new Atellica blood-testing machines.



4 years ago

Honda to close Wuhan plants until Feb. 13, no restart date set

Japanese automaker Honda Motor Co plans to extend the closure period for its three car plants in Wuhan with Dongfeng Group until Feb. 13, a company representative told Reuters on Monday.



4 years ago

Credit Suisse proposes Richard Meddings for election to the board

Credit Suisse Group said it was proposing Richard Meddings, chairman of British bank TSB, for election as a new non-executive member of its board of directors.



4 years ago

Utilities stocks trump other havens as virus fears spread

U.S. utilities stocks have outperformed other traditional havens in recent days, as worries over the spreading coronavirus epidemic sparked a rush to safety.



4 years ago

Ryanair to take longer to reach 200 million passenger target due to 737 MAX woes

Ryanair will take longer than expected to reach its long-term target of flying 200 million passengers per year due to delays in the delivery of Boeing's 737 MAX jet, the Irish airline announced on Monday.



4 years ago

Impact of virus on China's economy will be temporary: PBOC papers

The impact from a virus epidemic on China's economy will be limited and temporary, and the country's financial markets will return to normal in the long run, a commentary in a newspaper owned by the central bank said on Monday afternoon.



4 years ago

Sri Lanka to probe graft accusations over Airbus deal

Sri Lanka has ordered a probe into accusations of bribery by European planemaker Airbus to pave the way for the sale of aircraft to state-run carrier SriLankan Airlines, after the firm agreed a settlement with regulators.



4 years ago

Julius Baer to cut 300 jobs after 2019 profit drop

Julius Baer will cut 300 jobs this year, its chief executive said on Monday, as the Swiss wealth manager looks to boost profitability after a double-digit percentage earnings fall during 2019.



4 years ago

Panasonic posts higher profit on cost cuts, improved battery business with Tesla

Panasonic Corp on Monday reported a 3% rise in third-quarter operating profit, beating analyst estimates, aided by cost cuts and an improvement at the joint battery business with Tesla Inc .



4 years ago

Coronavirus tips jet fuel margins into biggest monthly fall in over a decade

The suspension of flights to China by global airlines due to the coronavirus epidemic resulted in Asian refining margins for jet fuel in January showing their biggest monthly decline in a more than a decade.



4 years ago

Ryanair says MAX woes could delay growth plans by up to two years

Ryanair may have to push back its long-term target of flying 200 million passengers per year by as much as two years due to delays in the delivery of Boeing's 737 MAX jet, Europe's largest low-cost carrier said on Monday.



4 years ago

Siemens Healthineers first-quarter profit falls on higher diagnostic gear costs

Siemens Healthineers' operating income slipped 11% in the first quarter, despite higher revenue, as the German company sold less profitable imaging machines and incurred ramp-up costs for its new blood-testing machines.



4 years ago

Obituary: Bernard Ebbers, convicted of orchestrating WorldCom fraud, dead at 78

Bernard Ebbers, who built WorldCom Inc into a telecommunications giant and was convicted in one of the largest U.S. accounting scandals, died on Sunday, his family said in a statement. He was 78.



4 years ago