Banking

  Bloomberg Visa Inc. is opening a new office in Atlanta as the payments giant proceeds with plans to triple its workforce in the city even as rivals cut back on their staffing. The company has almost doubled its presence in Atlanta in recent years, increasing employees in the Southeastern city to about 350. With the new office, Visa plans ...

  Bloomberg Deutsche Bank AG’s asset management arm is in talks to invest in two German cryptocurrency firms as part of efforts to revive growth. DWS group, led by Chief Executive Officer Stefan Hoops, has held talks about buying a minority stake in Deutsche Digital Assets, a Frankfurt-based provider of crypto exchange-traded products. Another potential target is Tradias, the market-making ...

  Bloomberg The European Central Bank (ECB) won’t need to return to ultra-low interest rates as inflation will settle in a new regime close to its 2% medium-term target, according to Governing Council member Francois Villeroy de Galhau. “I personally believe that once we will have fought inflation and come back to 2% we will be in a new inflation ...

Bloomberg Expect more defaults in the $4 trillion municipal-bond market this year, Bank of America Corp. (BofA) strategists said. Most of the distress will be concentrated in riskier sectors like nursing homes and hospitals. Muni-bond defaults are forecast to total between $1.7 billion and $2.1 billion in 2023, according to a research note of the bank. First-time payment defaults in ...

Bloomberg Societe Generale SA fell short of a pledge to pay out half of its underlying profit to shareholders, even after its fixed-income traders handed Chief Executive Officer (CEO) Frederic Oudea a bigger-than-expected profit. Revenue from buying and selling fixed-income products and currencies jumped 56% in the fourth quarter, beating analysts’ estimates as well as all main rivals so far. ...

  Bloomberg ABN Amro Bank NV reported fourth-quarter profit that beat analysts’ expectations as the Dutch lender restrained costs and announced a $536 million share buyback. Net income of €354 million in the three months through December compared with expectations for profit of €55.1 million, with the result aided by a combination of lower loss provisions and operating expenses, according ...

  Bloomberg BNP Paribas SA plans to buy back €5 billion ($5.4 billion) of shares after the sale of its US unit, and raised its profitability targets as traders posted a quarter that beat many Wall Street peers. The Paris-based bank is set to distribute about €4 billion related to the sale of Bank of the West and €962 million ...

  Bloomberg India’s central bank (RBI) slowed the pace of interest-rate increases while keeping the door open for further policy tightening to curb core inflation. The RBI’s six-member Monetary Policy Committee voted 4-2 to raise benchmark repurchase rate by a widely expected quarter-point to 6.50%, slowing from the 35 basis-point hike in December. The panel also retained its stance of withdrawing ...

Bloomberg Credit Suisse Group AG is delaying a much-anticipated compensation day for some of its bankers, further straining its relationship with employees as it restructures its Wall Street operations, according to people familiar with the matter. The bankers — mainly at managing director or director level — were notified that meetings set for February 7 have been cancelled, pushing back ...

Bloomberg The Bank of England (BOE) is seeking more women in management roles to diversify its leadership from the all-male team it currently has. Deputy Governor Dave Ramsden said 35% of senior managers are female at the moment, up from 20% in 2014. The central bank is targeting up to 44% by 2028. The BOE is currently led by Governor ...