Business

Royal Bank of Canada plans to open a consumer bank in the United States early next year targeting wealthy clients, with the aim of expanding deposits, its chief financial officer told Reuters on Friday after the bank posted first-quarter profit that beat expectations.

U.S. regulators have opened a probe regarding Marlboro maker Altria Group Inc's investment in e-cigarette maker Juul Labs Inc, according to a person familiar with the matter.

Markets are underpricing the risk that the coronavirus outbreak poses to the global economy, and central banks need to help business survive the impact of the virus, the chairman of Swiss lender UBS , Axel Weber, said.

Boeing Co has found debris in the fuel tanks of dozens of undelivered 737 MAX jets amid ongoing inspections as the Chicago-based planemaker struggles to restore the trust of airlines and the wider public in the grounded fleet.

Leading world economies must show unity in dealing with aggressive "tax optimization" by global digital giants like Google , Amazon and Facebook , G20 officials said on Saturday.

U.S. Treasury Secretary Steven Mnuchin said on Saturday it was very important to have tax certainty on a global basis and that the OECD was very close to consensus on a framework for minimum corporate tax.