Bloomberg Sovereign bonds in India rose to their highest in more than a decade and stocks fell the most since 2015 amid rising risks to the nation’s financial system along with a plunge in crude that led to panic sell-off of risk assets globally. The yield on the benchmark 10-year debt slid below 6% for the first time since 2009. ...

Bloomberg India, home to one of the world’s worst piles of bad debt, once again finds itself defending the stability of its financial system after the biggest bank failure in its history. The Reserve Bank of India (RBI) took to Twitter to affirm the safety of deposits in the wake of a decision to seize Yes Bank Ltd. and invite ...

Bloomberg The French economy will barely grow this quarter as the coronavirus outbreak slams the brakes on activity in both services and industry, according to a Bank of France survey. The downbeat assessment comes amid concern that Europe may be headed for a recession after Italy put its industrial heartland into lockdown, and global equities and oil prices tumbled. It’s ...

Bloomberg JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon’s emergency heart surgery has put the spotlight on succession, and in Asia, on how much of the lender’s push into China hinges on his commitment. Dimon, who underwent surgery after suffering acute aortic dissection, has temporarily handed control of the largest US bank to his lieutenants. His plan to bring ...

Bloomberg Betsy Duke stepped down as chair of Wells Fargo & Co. ahead of a dramatic congressional hearing set for this week examining the board’s role in the bank’s scandals. Democrats atop the House Financial Services Committee made no secret of their intent to target Duke and other past and current leaders, issuing a scathing report last week on the ...

Bloomberg Philippine central bank Governor Benjamin Diokno’s plate is full as he starts his second year in office. Diokno must enforce a range of new laws, including ones allowing the central bank to issue bonds and boost the country’s stubbornly low saving rate. And he ends his first year in office with a fresh global worry: the coronavirus outbreak weighing ...

Bloomberg Swiss National Bank (SNB) logic would dictate that it’s time to cut interest rates. With markets in a tailspin due to the coronavirus, the spread between Swiss and German bond yields that SNB President Thomas Jordan has repeatedly cited as necessary to prevent the franc from appreciating has melted away. The yield on German 10-year government bonds plunged to ...

Bloomberg Deutsche Lufthansa AG fell with other airline stocks after saying it was looking into government support amid the “immense” fallout from the coronavirus, which could burden travel demand for months. To avoid layoffs after slashing capacity by as much as 50%, the airline is examining the implementation of so-called short-time work, the company said in an emailed statement to ...

Bloomberg Air traffic in the Asia Pacific is set to plunge 24% in the first three months of this year because of the coronavirus’s impact on travel, erasing $3 billion in revenue for the region’s airports, a regional industry group said. “Unlike airlines, who can choose to cancel flights or relocate their aircraft to other markets to reduce operating costs, ...

Bloomberg Coronavirus has reached UK’s busiest airport, after two British Airways baggage handlers at London Heathrow tested positive for the disease. The affected workers are recovering in isolation at home, British Airways parent IAG SA said in an email. A small number of the luggage handlers’ colleagues are also being tested, a person familiar with the matter said. The outbreak’s ...