Australia home loan arrears not yet a threat – RBA

SYDNEY, June 18 () – Arrears on Australian housing loans are likely to keep rising for a while longer, a top central banker said on Tuesday, but should not pose a risk to financial stability or the economy as long as unemployment remains low. Speaking in Canberra, the head of the Reserve Bank of Australia’s

Banks to include CO2 emission measures in shipping loan decisions

LONDON () – A group of leading banks will for the first time include efforts to cut carbon dioxide emissions in their decision making when providing shipping company loans, executives said on Tuesday. FILE PHOTO: Ships and shipping containers are pictured at the port of Long Beach in Long Beach, California, U.S., January 30, 2019.

Swedbank suspends CEO, CFO of Estonian unit

FILE PHOTO: Swedbank sign is seen on the local headquarters building in Tallinn, Estonia March 25, 2019. /Ints KalninsSTOCKHOLM () – Swedbank said on Monday it had suspended the CEO and CFO of its Estonian business with immediate effect following an investigation into compliance with money-laundering rules at the bank. Sweden’s oldest bank has gone

UPDATE 4-Sotheby’s snapped up by French tycoon Drahi for $3.7 bln

PARIS/BOSTON () – Franco-Israeli cable magnate Patrick Drahi made a surprise move into the art world by snapping up Sotheby’s in a deal worth $3.7 billion, marking the art auction house’s return to private ownership after 31 years. The acquisition allows Drahi to join French billionaire Francois Pinault – who owns Sotheby’s main rival Christie’s

Puerto Rico oversight board defends plan as way out of bankruptcy

() – Puerto Rico’s federally created financial oversight board on Monday defended a new agreement with creditors, saying it will result in an affordable and sustainable debt level and allow the U.S. commonwealth to exit bankruptcy next year. The board has come under fire by Puerto Rico’s government and some creditors over pension cuts or

Deutsche Bank plans to pare U.S. equities business to skeleton operation -sources

NEW YORK () – Deutsche Bank plans to dramatically reduce the size of its U.S. equities business, leaving only a skeleton operation in place to service corporate and high-net-worth clients, three sources familiar with the matter told . FILE PHOTO: Deutsche Bank headquarters in Frankfurt, Germany, April 25, 2019. /Ralph Orlowski/File PhotoChief Executive Officer Christian

New Pakistan central bank boss dismisses free floating rupee idea

KARACHI, Pakistan, June 17 () – Pakistan’s new central bank governor Reza Baqir on Monday dismissed the idea of a free floating rupee as he outlined reforms aimed at ending instability in the South Asian economy. Baqir was last month appointed to lead the central bank in Pakistan, which has been hit by ballooning current

UPDATE 2-European stocks edge lower, Lufthansa drags after profit warning

() – European stock markets closed marginally lower on Monday with a profit warning from Germany’s Lufthansa hitting airline stocks, while markets globally awaited clues from the U.S. Federal Reserve on its policy direction. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 4, 2019.

UPDATE 3-Billionaire Patrick Drahi snaps up Sotheby’s in $3.7 bln deal

PARIS/BOSTON () – Patrick Drahi, the billionaire behind telecoms and media group Altice, agreed on Monday to buy Sotheby’s in a deal worth $3.7 billion, marking the storied art auction house’s return to private ownership after 31 years. The acquisition will allow avid art collector Drahi to join rival French billionaire Francois Pinault at the

U.N. food chief warns aid suspension in Yemen likely to start this week

UNITED NATIONS, June 17 () – United Nations food chief David Beasley warned the Security Council on Monday that a phased-suspension of food assistance in Yemen was likely to begin later this week over a diversion of aid and lack of independence in Houthi-controlled areas. He called on the Houthis to implement agreements to allow

RPT-Wife of former Nissan boss Ghosn urges Trump to help her husband

(Repeats with no changes to text) LONDON, June 17 () – The wife of former Nissan Motor chairman Carlos Ghosn urged U.S. President Donald Trump to raise her husband’s case with Japan’s prime minister at a summit of world leaders later this month. “I’d like President Trump to speak to Prime Minister Abe about fair

After Woodford fund suspension, focus turns to its stewards

LONDON () – The suspension of Neil Woodford’s flagship fund has put the focus on a little known firm tasked with ensuring his investors were being looked after properly. FILE PHOTO: Neil Woodford, founder and fund manager at Woodford Investment Management, is seen in this undated handout picture released on June 10, 2019. Jonathan Atkins/Handout

UPDATE 1-Lenders seek Jet Airways bankruptcy in last-ditch sale effort

FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. /Francis Mascarenhas/File PhotoMUMBAI () – Jet Airways’ creditors said on Monday they plan to begin insolvency proceedings against the Indian airline in a last-ditch bid to find a buyer for the carrier or its

Sotheby’s to be taken private by French billionaire Patrick Drahi

June 17 () – Art auction house Sotheby’s said on Monday it would be taken private for $2.66 billion by a company owned by Altice Europe founder Patrick Drahi. Sotheby’s shareholders will receive $57 in cash per share held. The offer represents a premium of 61% to Sotheby’s Friday close. (Reporting by Nivedita Balu in