Bloomberg Charlotte Hogg resigned from the Bank of England after criticism from lawmakers for failing to disclose that her brother works for a bank she would help to regulate. The resignation is an embarrassment for the BOE and puts it under pressure to show it’s learned from two potential conflict of interest issues in the past few years. Hogg, ...

  Bloomberg Singapore banned former Goldman Sachs Group Inc. banker Tim Leissner from the securities industry for 10 years and said it plans to issue similar orders against three others caught up in the scandal surrounding 1Malaysia Development Bhd. Leissner, who left Goldman Sachs in February 2016, was sanctioned because he issued an unauthorized letter to a financial institution and ...

  Bloomberg South Africa’s banks are going on the offensive after being criticized by some politicians over their lending practices and records in addressing racial inequality. Attacks on the lenders have been led by President Jacob Zuma, who’s accused them of monopolizing the financial services industry, and questioned whether they colluded when closing accounts belonging to members of the wealthy ...

  Bloomberg China’s policy makers support opening financial markets for capital and investment to flow both in and out of the country, according to central bank Deputy Governor Pan Gongsheng. China will push ahead on oversight and enforce existing regulations on foreign exchange, Pan said in an interview Sunday with Bloomberg News and Caixin Magazine. Scrutiny of foreign companies transferring ...

  Bloomberg When global banking regulators met in secret in a London conference room to try to clinch a deal on capital rules, European industry lobbyists were nowhere in sight. They didn’t have to be. European Union officials at the meeting in December doubled down on their call to soften rules pushed by the U.S., concerned they would penalize the ...

  Bloomberg Intel Corp. will acquire Mobileye NV for about $15 billion, paying one of the highest takeover premiums this century to play catch-up in the market for technology that helps cars drive themselves. The US chipmaker will pay $63.54 per share in cash for Jerusalem-based Mobileye, which makes chips for cameras and driver-assistance features. The offer, the largest ever ...

  Bloomberg Samsung Electronics Co. isn’t letting the arrest of de facto head Jay Y. Lee stop it from considering strategic moves, with the technology giant continuing to evaluate a potential holding company structure. The idea was first announced in November after pressure from activist investor Paul Elliott Singer for changes at the world’s biggest maker of smartphones and TVs. ...

  Dubai / Emirates Business Intel Security, in partnership with the Center for Strategic and International Studies (CSIS), released “Tilting the Playing Field: How Misaligned Incentives Work Against Cybersecurity,” a global report and survey revealing three categories of misaligned incentives: corporate structures versus the free flow of criminal enterprises; strategy versus implementation; and senior executives versus those in implementation roles. ...

  Dubai / Emirates Business Mergers & acquisitions (M&A) in renewables sector picked up in 2016 across the Middle East and Africa after a long period of slow activity, according to EY report ‘Power transactions and trends: 2016 review and 2017 outlook’. Greenfield activities continue to dominate power and utility transactions in the region, attracting $8.7 billion investment last year ...

  ABU DHABI / WAM The Abu Dhabi Urban Planning Council (UPC) approved several projects for the fourth quarter of 2016/17 Development Plan, including a range of important commercial, residential and tourism projects in the UAE capital, Abu Dhabi. As many as 24 development projects were approved for the fourth quarter, showing an 18 percent increase compared to the third ...