Banking

Bloomberg Credit Suisse Group AG’s investment bank chief stepped down, adding to months of turmoil at the top that started with the departure of its wealth management head and culminated in a spying scandal. Jim Amine decided to resign as chief executive officer of the investment banking and capital markets division and leave the executive board, taking the role as ...

Bloomberg Bank of England (BOE)policy makers are being forced to keep stumm just as the outlook is changing, restricting their ability to reinforce signals that lower interest rates could be imminent. The UK’s December 12 election will hamper any attempts to prepare markets for a move at the BOE’s next decision just before Christmas. Officials are now in the customary ...

Bloomberg India’s Yes Bank Ltd, the world’s worst-performing lender in 2019, has posted the globe’s biggest gain over the past month. Its shares have rallied about 50% — the biggest gain among global peers valued at more than $1 billion — after embattled founder Rana Kapoor was forced to sell his holdings in October and a new management team promised ...

Bloomberg Deutsche Bank AG shareholders have called for Chief Executive Officer Christian Sewing to end his role in supervising the investment banking division amid concern it may distract him from his main job, the Telegraph reported. Deka Investment, one of the bank’s shareholders, called it “unusual” for a CEO to run a division while there’s ongoing restructuring involving 18,000 job ...

Bloomberg Nigerian local-currency bond yields have plunged to 18-month lows as investors pile into the debt after the central bank restricted sales of higher-yielding, shorter-term central-bank securities. The average yield for naira government bonds has dropped 117 basis points to 13.03% since the central bank moved to block individuals and non-bank firms from buying so-called open-market operations (OMOs) on October ...

Bloomberg Vietnam’s Military Commercial Joint Stock Bank plans to raise about $240 million from the sale of a 7.5% stake to foreign investors via a private placement, according to people familiar with the matter. The sale of the 7.5% stake, or 141.5 million new shares and 47 million treasury shares, is expected to be completed by the end of this ...

Bloomberg A Wall Street regulator is opening a probe into Goldman Sachs Group Inc’s credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card’s algorithms when determining credit limits. A series of posts from David Heinemeier Hansson starting railed against the Apple Card for giving him 20 times the credit limit ...

Bloomberg Germany’s finance ministry sought to break the deadlock in discussions over European banking integration by signaling it may drop its opposition to a key part of the plan. Berlin is ready to consider a form of joint European deposit insurance, something that would stabilise the financial system by reducing the risk of bank runs, according to a finance ministry ...

Bloomberg The Bank of Thailand cut its benchmark interest rate for the second time in three months and said it will ease rules on outflows to curb a surging currency. Five of the seven Monetary Policy Committee members voted to cut the key rate by a quarter-percentage point to 1.25%, the central bank said in a statement. That matches a ...

Bloomberg A California bank with deep ties to the US venture capital industry is targeting Denmark for growth, as a lack of regulatory constraints on lending make the country a preferred destination in Scandinavia. Silicon Valley Bank, a unit of SVB Financial Group, says it’s budgeted a minimum of about $200 million to lend to Danish technology companies. Erin Platts, ...