Banking

Bloomberg The Bank of Japan (BOJ) will keep pumping out stimulus regardless of any shift in the nation’s political leadership as a result of upcoming elections or any Federal Reserve tapering moves, according to a former senior executive at the central bank. “You want to keep letting sleeping dogs lie,” said Kazuo Momma in an interview, referring to the monetary ...

Bloomberg Morgan Stanley boosted salaries for the second time in a month, raising the stakes again in a Wall Street bidding war for new talent. The firm bumped base pay for junior bankers to $110,000, a mark that will now also cover first-year staff in the trading division, a person familiar with the matter said, asking not to be identified ...

Bloomberg Nigeria’s central bank selected Bitt Inc. as a technical partner to help create its digital currency by the end of the year. The Barbados-registered financial technology company will help the regulator to launch the new currency, named eNaira, Central Bank Governor Godwin Emefiele said in an emailed statement. The company was picked for its “technological competence, efficiency, platform security, ...

Bloomberg The Indian rupee’s outsized gains over the last three sessions is spurring talk that the Reserve Bank of India (RBI) may have loosened its grip over the currency. The rupee has rallied 1.6% in the previous three sessions to post its biggest gain for the period since March 2 The exchange rate had been moving within a range of ...

Bloomberg Italian public financial institutions may end up purchasing some assets of Banca Monte dei Paschi di Siena SpA that UniCredit SpA doesn’t want in a takeover of the bankrupt lender. State lender Mediocredito Centrale SpA and state-owned asset manager AMCO SpA were given to access to Monte Paschi’s data room, according to a statement. The Italian Treasury may be ...

Bloomberg Zambia’s central bank kept its benchmark interest rate unchanged, with inflation seen decelerating faster than earlier expected. The monetary policy committee held the rate at 8.5%, Governor Christopher Mvunga told reporters on Wednesday in Lusaka, the capital. This was the MPC’s first rate decision under a new government following elections last month. The decision to hold was supported by ...

Bloomberg Five years into scandals that have already cost Wells Fargo & Co more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls. The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau have warned the firm they ...

Bloomberg Royal Bank of Canada (RBC) is benefiting from the lender’s dominance in its home country and a capital-markets division that’s cashing in on a surge in dealmaking. As Canada’s largest mortgage lender, Royal Bank is getting a boost from strong home sales and surging real estate values that have lifted that portion of its loan book. The bank has ...

Bloomberg European countries should band together to create a “green capital market” to finance the transition to cleaner fuels and other initiatives needed to meet the Paris Agreement climate targets, UBS Group AG chairman Axel Weber said. Weber, speaking on a panel at the European Forum Alpbach in Austria, said Europe’s leading position in tackling pollution should help it create ...

Bloomberg Japan’s biggest brokerage has started offering subscriptions to a luxurious Italian food delivery service, where customers can use tokens to buy and trade dishes as their value fluctuates. An affiliate of Nomura Holdings Inc began selling the tokens, that exist on the blockchain, for four high-end food parcels a year from Masayuki Okuda, an award-winning Japanese chef famous for ...