It didn’t last long. Fintech darling Adyen NV is no longer bigger than Deutsche Bank AG. Shares of the payments startup have fallen 17 percent since a group of its original backers offloaded some their stock well before the end of a lock-up period set at its initial public offering. The disposals are understandable. Adyen’s still-very-expensive valuation is less so. ...

Russia, according to Deputy Finance Minister Vladimir Kolychev, is ready to buy back its own domestic debt on the open markets if the US sanctions it or if volatility becomes substantially higher than normal. The idea makes sense if one views foreign bondholders as a source of instability — and that’s how a country like President Vladimir Putin’s Russia should ...

The minute I saw Snap Inc.’s financial statements last year, I couldn’t understand why the company was going public at such a young stage of its development with so short a track record for its corporate strategy. The initial public offering (IPO) for Snapchat’s parent company went well, showing that investors saw Snap as a promising blank state with all ...

Having dominated UK politics for the last two years, you might think that all of the news about Brexit would have led some Brits to change their minds one way or the other. Indeed polls have shown that something like three-quarters of Brits think that their government is handling the UK’s exit from the EU badly. Yet when it comes ...

Bloomberg Credit Suisse Group AG was scolded by Switzerland’s financial regulator for its failure to properly oversee a former star wealth manager convicted of fraud, escaping any real penalties for its compliance shortcomings. Finma identified deficiencies in the bank’s anti-money laundering controls as well as shortcomings in its oversight of the manager, identified as Patrice Lescaudron by people with knowledge ...

Bloomberg Deutsche Bank AG reiterated that it plans to carry on operating as a branch in the UK after the country leaves the European Union. That plan is in line with guidance from the Bank of England’s regulatory arm, a Deutsche Bank spokesman said in an emailed response to questions on Monday in Frankfurt. The lender said it is working ...

Bloomberg Nigeria accused HSBC Holdings Plc of money laundering after an analyst working for the lender said that a second term for President Muhammadu Buhari may stall economic recovery in Africa’s biggest oil producer. “What killed Nigeria’s economy in the past was the unbridled looting of state resources by leaders, the type which was actively supported by HSBC,” presidential spokesman ...

Bloomberg European Central Bank Governing Council member Jozef Makuch said he might not finish his second term at the helm of Slovakia’s monetary authority to allow the appointment of his successor before 2020 general elections. Makuch said there is a chance that the ballot will have an inconclusive result and that’s “the only reason” why he would consider stepping down ...

Bloomberg New York sued the US over a decision to allow financial technology companies to apply for special national banking charters, saying the move is “lawless” and “ill-conceived” and will destabilise financial markets that are more effectively regulated by the state. Maria Vullo, superintendent of the state’s Department of Financial Services, filed the lawsuit against the Office of the Comptroller ...

Bloomberg Imagine landing at a major airport and the only human official you meet on your way through the terminal is a customs officer. Singapore’s Changi Airport, voted the world’s best for the past six years by Skytrax, is pursuing that goal of extensive automation with such vigour that it built an entire terminal to help test the airport bots ...