UniCredit’s parent company and the Italian bank’s German and Austrian subsidiaries reached a settlement with American regulators for violating sanctions against Iran, Libya and other countries between 2002 and 2011. The banks will pay a $1.3bn fine. The German subsidiary also pleaded guilty to steering at least $393m through the American financial system on behalf of sanctioned entities. It is the second big penalty for sanctions-busting recently, following a $1.1bn fine slapped on Standard Chartered.
The Chinese economy grew by 6.4% in the first quarter, year on year. That was a bit better than markets had expected, possibly reflecting the easing of trade tensions between America and China. The negotiations on a deal to resolve that conflict are in their final stages.
Publicis undertook the biggest acquisition in its 93-year history when it agreed to buy Epsilon, a digital-marketing agency, for $4.4bn. The deal goes some way in helping the French advertising group, which counts Saatchi & Saatchi among its assets, to meet the challenge posed by Google, Facebook and other online-advertising platforms.
Jet Airways’ share price plunged amid reports that it would have to cease all operations. The Indian airline is beset by a funding crisis that has left some staff unpaid since December and led to its aircraft being seized by creditors. It recently cancelled all its international flights.
The ripples from the grounding of Boeing’s 737 max aircraft following two fatal crashes continued to be felt across the airline industry. American Airlines cancelled all flights on max jets until mid-August (it had hoped to find substitute planes). That came after Southwest, which has the largest fleet of max aircraft, extended its flight cancellations.
在两起致命坠机事故后，波音737 max飞机停飞的余波仍然波及着整个航空业。美国航空公司在8月中旬前取消了所有max机型的航班(该公司曾希望寻找替代机型)。此前，拥有规模最大的波音737 MAX机群的西南航空延长了取消航班的时间。
Disney took the wraps off its new video-streaming service, entering a market dominated by Netflix and Amazon. Disney+ will launch in November in America and in later months worldwide. It will feature Disney’s own rich catalogue of films, as well as the Marvel, Pixar and Star Wars franchises, and cost half as much as Netflix. Disney is clearly no dumbo when it comes to price wars.