Bloomberg After a stellar year for trading and dealmaking, European bankers are joining their American counterparts in learning their bonuses won’t be quite as impressive. Credit Suisse Group AG, which contended with major legal hits and writedowns last year, reduced its bonus pool by about 7%. Deutsche Bank AG will boost bonuses for its traders by more than 10%, but ...

Bloomberg DBS Group Holdings Ltd., Southeast Asia’s largest lender, said it’s facing lawsuits in India related to its recent takeover of a struggling local bank. Holders of Lakshmi Vilas Bank Ltd.’s equity shares and Tier-II bonds that were written off before the effective date of amalgamation took legal actions against DBS’s local unit in various high courts in India, the ...

Bloomberg Bank of England (BE) policy maker Gertjan Vlieghe gave his strongest backing yet for the use of negative interest rates if the UK needs more stimulus, highlighting a growing schism between officials on the institution’s toolkit. Two days after Deputy Governor Dave Ramsden said the BOE had scope for more quantitative easing (QE) to support the economy — describing ...

Bloomberg Credit Suisse Group AG is seeking to gain full control over its securities venture in China amid plans to double its headcount and revenue in the world’s fastest growing major economy. The Swiss firm last year gained majority control over the venture and has been working to upgrade its infrastructure as well as moved more bankers into China, Asia ...

Bloomberg Citigroup Inc. is studying options for slimming down the firm’s sprawling international consumer operations as part of incoming Chief Executive Officer Jane Fraser’s efforts to simplify the bank. The company is weighing divesting certain units across retail banking in the Asia-Pacific region, including those in South Korea, Thailand, the Philippines and Australia, according to people familiar with the matter. ...

Bloomberg A senior Bank of America Corp. (BofA) bond trader is the latest person to depart from the company’s fixed-income division. Shyam Rajan, head of US Treasury trading, is leaving after more than a decade with the firm. The company named Michael Maras head of global fixed-income, currencies and commodities research after prominent analyst David Woo decided to leave. Wall ...

Bloomberg McLaren Automotive will bill its first plug-in hybrid model as offering true supercar performance with hatchback-level emissions. The Artura will start at 185,500 pounds ($258,000) and can drive about 30 kilometers (19 miles) on battery power alone, Chief Executive Officer Mike Flewitt said in an interview. The carmaker expects the car to account for about a third of its ...

Bloomberg Apple Inc. is in discussions with multiple suppliers of self-driving car sensors known as lidar, according to people familiar with the matter, a key milestone towards development of its first passenger vehicle. The Cupertino, California-based technology giant is in active talks with a number of potential suppliers for these laser-based sensors that allow a car’s computer to “see” its ...

Bloomberg News publishers are lobbying the European Union (EU) to copy parts of a proposed law in Australia that would force Facebook Inc. and Alphabet Inc.’s Google to pay an agreed price for their content. The publishers want EU lawmakers to force the tech giants into binding arbitration if they can’t agree on payments for snippets of articles shown on the ...

Bloomberg Foxconn Technology Group’s new EV platform is expected to help launch vehicles later this year, a company official said, signifying major progress in the Taiwanese electronics giant’s push into the automotive space. Two light vehicles designed using Foxconn’s platform will be unveiled in the fourth quarter, Chairman Young Liu of Foxconn’s flagship unit Hon Hai Precision Industry Co. told ...