Bloomberg Indian equities rose ahead of the official outcome of national elections on Thursday, with nearly all exit polls projecting the re-election of Prime Minister Narendra Modi. The S&P BSE Sensex gained 0.4 percent to 39,110.21 in Mumbai, while the NSE Nifty 50 Index gained 0.3 percent to 11,737.90. The benchmark stock index retreated after closing at a record high ...

Bloomberg US central bankers may have “slightly overdone it” by raising interest rates in December, though it’s premature to talk about a rate cut, said Federal Reserve Bank of St. Louis President James Bullard. “Rates are at a good place in the US right now, if anything we are a little restrictive I would say,” Bullard said in an interview ...

Bloomberg UBS Group AG is close to settling a tax evasion case with Italy for about 100 million euros ($110 million), according to people familiar with the matter. The agreement may come within the next few weeks, the people said, asking not to be identified as the matter is private. UBS declined to comment. The Swiss bank has said it ...

Bloomberg Mario Draghi warned against exaggerating the tradeoffs between risk sharing and risk reduction in the euro zone, arguing it has hampered monetary policy transmission. “Since a long time we have reached an impasse on key issues including on completing the banking union and deepening fiscal policy coordination,” the European Central Bank President said in Frankfurt on Wednesday. “This has ...

Bloomberg Nigerian policy makers urged banks to turn on the taps and increase lending to stimulate the economy, or have access to a near-risk free way of making money choked off. The West African nation’s Monetary Policy Committee is using persuasion to get banks away from parking their cash in high-yielding government securities to divert these funds to the private ...

Bloomberg Japan’s biggest banks have warned investors of a tough year ahead. The nation’s three megabanks have been relying on the healthy status of borrowers and sales of so-called cross-shareholdings for earnings as rock-bottom interest rates crimp lending profitability. Results on Wednesday showed they are losing those benefits at a time when the economy is weakening, trade tensions are escalating ...

Bloomberg JPMorgan Chase & Co. won shareholder approval for its executive pay plan even after an advisory firm criticised the firm’s policy as too subjective and opaque. A resolution to approve compensation for five named executive officers received backing from 72 percent of voters, according to a preliminary tally at JPMorgan’s annual shareholders meeting in Chicago. It was the lowest ...

Bloomberg Airbus SE will enhance the capabilities of the A220 single-aisle jet it acquired last year from Bombardier Inc in a bid to challenge Boeing Co by opening up potential new routes. Airbus will boost the range of the former C Series plane by about 450 nautical miles, sales chief Christian Scherer said in a briefing at the European planemaker’s ...

Bloomberg Marks & Spencer Group Plc plans to open more large food stores, shifting away from a strategy of expanding smaller convenience outlets as it prepares for an alliance with online grocer Ocado Group Plc. The prospect of another costly store revamp as profit falls weighed on the UK retailer’s shares, which declined as much as 5.4 percent on Wednesday. ...

Bloomberg Ascena Retail Group Inc will start winding down its Dressbarn clothing chain, the latest upheaval in a continued retail shakeout. After trying to find a new owner, Ascena said that it’s preparing to close the approximately 650-store chain. No timeline was given, and stores will remain open until the wind-down commences. Ascena, whose brands have come under pressure as ...