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APRA’s research suggested that a 200-basis-point capital increase might equate to the banks raising an additional $30 billion, meaning that 80 basis points may require $12 billion in extra capital to be raised by the big four and Macquarie.

More than 50% of IKEA’s 9,000-strong workforce will be affected by the wage increase, it says. Some 4,500 will see their pay go up as a result.

The firm stated it is left with no selection however to promote as lots of its 296 shops as attainable.

In his first post-election budget, British finance minister George Osborne announced a compulsory living wage for workers aged over 25, starting at 7.20 pounds ($11.24) an hour when it is introduced next April and rising to 9.35 pounds by 2020.

Daily Telegraph says that Deutsche Bank has been appointed to advise the hotel group.

Analysts on average had expected earnings of 74 cents per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable.

Following an emotional debate and early-morning vote, the country’s parliament approved a raft of austerity measures that its global creditors had demanded as a first step before negotiating a final rescue deal. A total of 64 MPs voted No and six abstained.

TerraForm Power Inc. will subsequently acquire Vivint’s rooftop solar portfolio, consisting of 523 megawatts to be installed by year-end, for $922 million in cash, according to the statement. SunEdison expects to issue approximately $370m of its common stock and $350m of...

HONG KONG (Reuters) – Standard Chartered Plc Chief Executive Bill Winters will take more direct responsibility for the bank’s biggest business divisions, as he seeks to restore the fortunes of the emerging markets-focused bank.

In 2014 he cut 19,000 jobs at the bank, but quarreled with the board about the pace of cost-cutting moves and the scope of Barclays’ investment-banking business. Germany’s Deutsche Bank and Royal Bank of Scotland PLC were downgraded by S&P in June alongside...

The Spaniard has become a savvier rider with age. “Sometimes, when you change the rhythm, it can produce a surprise”.

It has placed an order for Trent 700 engines to power a fleet of 20 Airbus A330 Regional aircraft.

The two companies plan to announce the deal on Monday before both report second-quarter results on Tuesday, said the source, who was not authorized to speak publicly.

Chinese telecoms equipment giant Huawei said on Monday that revenue surged 30 percent year-on-year in the first half, helped by “solid” sales of smartphones and growth in other business areas.

The government plans to introduce an increased employment allowance to soften the impact of the New Living Wage on employers, but the ACS said this would provide comparatively “small compensation” for convenience stores.