Banking

Bloomberg Sweden’s central bank will make good on its promise to enter the corporate bond market, as it begins buying 10 billion kronor ($1.1 billion) worth of securities. But the move, which the Riksbank says will rein in funding costs for businesses and help contain credit supply shocks, has courted controversy ever since it was announced in July. Some investors ...

Bloomberg Deutsche Bank AG plans to boost lending to commodity traders in the Middle East to help double the size of its regional business. The German lender, which on Monday appointed Loic Voide and Kees Hoving as co-chief executive officers for the Middle East and Africa, is also targeting bond markets for growth in the region. “In the next five ...

Bloomberg After a blistering rally of 34% from this year’s record low against the dollar, Norway’s krone may be running low on steam. The Scandinavian currency completed a second weekly loss versus both the greenback and euro, in step with declines in the price of oil — Norway’s top export. Furthermore, krone gains in recent months were fuelled in part ...

Bloomberg President Christine Lagarde said the recent appreciation of the euro has partly offset the positive impact that the European Central Bank’s (ECB) stimulus had in boosting inflation and reiterated that policy makers stand ready to adjust all of their instruments if needed. The Governing Council will carefully assess all the information coming from the euro-area economy, including developments in ...

Bloomberg The chairmen of UBS Group AG and Credit Suisse Group AG are exploring a potential merger to create one of Europe’s largest banks, Inside Paradeplatz reported. The project, nicknamed Signal, is driven by UBS Chairman Axel Weber, who is working on it with his counterpart at Credit Suisse, Urs Rohner, the blog said. Weber has discussed the idea with ...

Bloomberg British mortgage lenders are beginning to batten down the hatches for an oncoming spike in unemployment. HSBC Holdings Plc, Barclays Plc and Natwest Group Plc have tightened restrictions on home loans for risky borrowers as officials unwind pandemic-support efforts. Then there’s the renewed prospect of a no-deal Brexit, threatening to deepen what’s already worst recession in centuries. By moving ...

Bloomberg Deutsche Boerse AG submitted an offer for exchange operator Borsa Italiana SpA, pitting it against a joint bid from Italian state-backed lender Cassa Depositi e Prestiti SpA and France’s Euronext NV. The German exchange said in a statement that it was “offering a high value for the future growth and development of an autonomous Borsa Italiana Group, thereby strengthening ...

Bloomberg Citigroup Inc. is looking to keep court proceedings on track in its attempt to recover more than $900 million the bank says it accidentally transferred to Revlon Inc. lenders last month. A lawyer for the bank asked US District Judge Jesse Furman in Manhattan to deny a request by some of the lenders to postpone trial in Citigroup’s suit ...

Bloomberg Danske Bank A/S said some staff, including managers, have long been aware of a number of the debt collection issues that resulted in up to 15,000 clients being overcharged. The bank, which is still being investigated separately for money laundering, said it has submitted a report to its watchdog in Copenhagen as it tries to deal with the fallout ...

Bloomberg Italy is seeking “a revamp not a break up” of Monte dei Paschi di Siena SpA, Italian Finance Minister Roberto Gualtieri said. “The path to follow is a search for a strategic partner,” Gualtieri told reporters in Berlin. “We sold non-performing assets, a de-risking operation that allows Paschi to be relaunched.” The Italian state plans to dispose of its ...