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MY | MONEY NEWS
Indonesia's national carrier Garuda has told Boeing it will cancel a multi-billion-dollar order for 49 Boeing 737 Max 8 jets after two fatal crashes involving the plane. The Garuda decision is thought to be the first formal cancellation for the model. Garuda had already received one of the planes, he said, part of a 50-aircraft order worth $4.9 billion at list prices when it was announced in 2014. | Deutsche Bank's management board members were handed their first bonuses in four years, according to the bank's annual report published today. The management board received total pay, including bonuses, of €55.7m in 2018, up from €29.8m a year earlier, Deutsche Bank's annual report said. The bank's bonus pool for 2018 was €1.9 billion, down 14% from €2.3 billion a year earlier. | EU leaders have agreed a plan that would delay Brexit from 29 March to 22 May on condition that MPs approve Theresa May's withdrawal deal next week, the European Council has confirmed. Mrs May will have to try and get the Withdrawal Agreement through parliament next week. If she succeeds, Article 50 will be extended until 22 May, the day before the European Elections. | Swedbank's board has continued confidence in the bank's chief executive after seeing the results of an external report into its alleged involvement in money-laundering in the Baltics. Forensic Risk Alliance (FRA) was hired by Swedbank last month to investigate allegations in the media that at least 40 billion Swedish crowns ($4.3 billion) of suspicious payments moved between accounts held at its Baltic branches and suspect accounts at Danske Bank between 2007-2015. | Low-cost carrier WOW Air has restarted talks with rival Icelandair after negotiations with another investor failed, the two Icelandic airlines said. Indigo Partners, a private equity fund managed by veteran low-cost airline investor Bill Franke, cancelled its proposed investment. Wow Air faces pressure from creditors and lessors and has already said it will reduce its fleet to 11 aircraft from 20 and cut 111 jobs. | Permanent TSB has today announced details of its new seven-year fixed rate mortgage product for new customers only. This is the first time the bank has launched a fixed rate product with a term of more than five years since 2011. The new offering will fix mortgage rates at 3.10% until 2026 for those borrowing less than 60% of the value of the property and who take the fixed rate from this year. |||