Banking

  Bloomberg Goldman Sachs Group Inc. plans to reduce the carbon footprint of its fossil-fuel clients by a fifth, and slash emissions in other key customer groups as it acts on a pledge to make its business climate neutral by mid-century. By 2030, the Wall Street firm intends to have lowered the financed emissions of oil and gas companies by ...

  Bloomberg The Reserve Bank of India (RBI) said it favors a complete ban on cryptocurrencies at a meeting of its central board, the Economic Times reported, citing unnamed people familiar with the deliberations. India’s central bank made a detailed presentation to its board highlighting “serious concerns” around the impact of cryptocurrencies on macroeconomic and financial stability, as well as ...

  Bloomberg Banca Monte dei Paschi di Siena SpA plans to raise 2.5 billion euros ($2.8 billion) to cover capital needs after the Italian government’s efforts to sell the lender to UniCredit SpA failed. The capital increase is part of a five-year business plan that will be submitted to European authorities for approval, it said in a statement. The fresh ...

  Bloomberg Bank of Nova Scotia is delaying plans to bring more employees back to its headquarters in January as Covid-19 cases rise rapidly in the province of Ontario. Canada’s third-largest bank had planned to start a phased return-to-office plan for head-office employees who are still working remotely on January 17, but that’s now on hold, spokesperson Clancy Zeifman said ...

  Bloomberg Colombia’s central bank raised borrowing costs for the third straight meeting as inflation accelerates amid forecasts for the biggest economic expansion in at least a century. The bank lifted its benchmark interest rate by half a percentage point to 3% in a split decision, Governor Leonardo Villar told reporters, adding that three of the seven board members voted ...

  Bloomberg The Bank of Japan (BOJ) ended the second year of the pandemic in a very different place to other major central banks. While the Federal Reserve and the Bank of England this week took aggressive steps to pull back from crisis aid, Governor Haruhiko Kuroda and his board slow walked it, extending assistance to struggling smaller businesses for ...

  Bloomberg Bank of America Corp (BofA) is turning to private jets and exotic cars to compete with American Express Co and JPMorgan Chase & Co and lure big spenders to its credit cards. The Charlotte, North Carolina-based company revamped its rewards program and debuted a new $550-a-year metal credit card that offers extra points on travel and dining purchases ...

  Bloomberg Poland is poised for a hefty increase in interest rates after a spike in inflation to a two-decade high convinced central bankers that spiralling price growth isn’t transitory. Since the Monetary Policy Council hiked the benchmark to 1.25% last month, all but two of its 10 members have suggested that they’re ready to act again. Of 32 economists ...

    Bloomberg JPMorgan Chase & Co is preparing to pay roughly $200 million to resolve the US regulatory investigations into the lapses over monitoring the employee communications. A settlement with the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) could be reached before year-end, according to people familiar with the matter, although the figure is preliminary ...

    Bloomberg Bank of Thailand is focused on aiding economic growth amid subdued inflation and is less worried about the US Federal Reserve’s monetary actions, Governor Sethaput Suthiwartnarueput said ahead of the central bank’s rate meeting next week. “Most of our rate trajectory will be dictated by domestic considerations,” Sethaput said, adding inflation, growth and financial system stability will ...