... * Central banks should begin process of normalisation -BIS * Says short-term turbulence is inevitable * Inflation not the only important variable -BIS head of research By Marc JonesLONDON, June 25 (Reuters) - Major central banks should press ahead ...
Takata, the Japanese automotive supplier at the centre of a global recall of exploding airbags, has filed for bankruptcy protection in Japan and the US, saddled with liabilities exceeding $10bn to address massive recall costs.
Passengers on board an AirAsia flight that was forced to return to Australia were told by the captain to "say a prayer" after a problem reportedly with an engine made the plane shudder like a "washing machine".
Royal Bank of Scotland is cutting 443 UK jobs dealing with business loans as it shifts many of the roles to India. The state-owned bank said it was moving the jobs, which help to handle loans for small businesses, as part of an ongoing cost-cutting drive.
Italy on Sunday made $5.8 billion of resources immediately available to keep operative two banks the ECB has deemed "failing or about to fail.