Banking

Bloomberg Some European Central Bank (ECB) officials issued warnings about higher rates of inflation, just a day after agreeing to keep monetary stimulus flowing at an accelerated pace through the summer. Austrian Governor Robert Holzmann went so far as to say that if euro-area price growth exceeds 3%, then policy makers would need to consider acting. He said the possibility ...

Bloomberg Indian monetary policy makers are tolerating inflation rates higher than their 4% medium-term target while they focus resources on an economic rebound. Economists see the Reserve Bank of India (RBI) taking a grin-and-bear it approach to price pressures as it seeks to help Asia’s No. 3 economy recover from one of the world’s worst coronavirus outbreaks. The RBI has chosen ...

Bloomberg Toronto-Dominion Bank (TD) was found not liable for losses related to convicted fraudster Allen Stanford’s Ponzi scheme, with an Ontario judge rejecting a $4.5 billion negligence claim against the firm. The lender doesn’t need to pay the claim filed by trustees trying to recover losses from Stanford investors because Toronto-Dominion “did not know or have any reason to suspect ...

Bloomberg Goldman Sachs Group Inc inked a partnership with Visa Inc as it builds out its newly formed transaction banking arm. The bank is using Visa capabilities that allow Goldman’s corporate clients to easily send and track high-value payments to other businesses overseas, according to a statement on Monday. Goldman agreed to the deal after talking with more than 100 ...

Bloomberg European Central Bank (ECB) tensions over how and when to discuss ending its emergency bond-buying program are starting to bubble over into the public domain. Little more than an hour after President Christine Lagarde said in an interview that it is “far too early” to debate when to end the stimulus, Austrian central-bank Governor Robert Holzmann said the program ...

Bloomberg Bank of America Corp (BofA) is hiring top investment banker Vito Lo Piccolo, who’ll leave Italy’s Cassa Depositi e Prestiti SpA just as the state-backed lender revamps its strategy under new leadership chosen by Prime Minister Mario Draghi. Lo Piccolo, 46, will join BofA to strengthen its investment banking division, people with knowledge of the matter said. He will ...

Bloomberg SEB AB, one of Sweden’s biggest banks, is planning a new range of services to cater to the growing number of wealthy clients in northern Europe. The Stockholm-based bank says the list includes personalized advice on investing in art as well as coaching services for the children of the very rich to help them look after the fortunes they ...

Bloomberg After more than a year of near-empty skyscrapers and virtual conferences, the City of London is hoping the UK government’s latest lockdown guidance next week will help kickstart a more widespread return to the office. Banks including Goldman Sachs Group Inc and JPMorgan Chase & Co have told UK-based staff that workers should ready themselves for a gradual return ...

Bloomberg Japan’s biggest bank is planning to plow about $9 billion into a new investment team that will look to buy credit, equities and alternative assets in a bid to lift investment returns. Mitsubishi UFJ Financial Group Inc expects to begin buying the assets in the second half of this year that will likely focus on US securities, said the ...

Bloomberg Credit Suisse Group AG cancelled a plan to back star trader Hamza Lemssouguer’s credit fund in a stunning about-face as it dials back risk after the implosion of Archegos Capital Management and Greensill Capital. The Swiss lender agreed with Lemssouguer that he should take his Arini European Credit fund outside the bank, according to an internal memo seen by ...