Banking

Bloomberg As merger talks between Deutsche Bank AG and Commerzbank AG appear to run into more obstacles, potential suitors are jockeying for a piece of the German banking market should government efforts to create a national champion fail. Commerzbank, the smaller of the two, is attracting the most interest, perhaps because it would be easier to digest. Dutch lender ING ...

Bloomberg Wells Fargo & Co. is once again flirting with something that no major US bank has done in a decade: have a dividend yield north of 4 percent. The spike in the yield comes as the result of sliding shares rather than profit growth. Wells Fargo dropped as much as 1 percent in early trading after gaining 2.5 percent ...

Bloomberg India’s new government should review the central bank’s inflation goals, including whether consumer pri-ces or the underlying core measure is the appropriate target to use to determine interest rates, an economic adviser to the current prime minister said. Speaking in his personal capacity, and not as a member of Prime Minister Narendra Modi’s Economic Advisory Council, Rathin Roy said ...

Bloomberg The Argentine peso gained as the government and the central bank announced measures to control inflation after prices rose more than expected in March for the third consecutive month. The peso climbed as much as 2.3 percent before paring gains to finish trading up 1.1 percent at 41.9 per dollar. Some investors saw the announcements as boosting President Mauricio ...

Bloomberg UniCredit SpA’s Austrian unit is requesting special audits of at least one of the lenders comprising the 3 Banks Group, saying it broke corporate law and governance rules for years. UniCredit Bank Austria AG is demanding the audit of six share issues at BKS Bank AG, one of the three banks, according to a motion for the May 8 ...

Bloomberg Deutsche Bank AG is working on an alternative strategy to present to investors should takeover talks with rival Commerzbank AG collapse, according to people familiar with the matter. Some top shareholders want the bank to prepare options as obstacles to a combination pile up, according to people familiar with the matter. Chief Executive Officer Christian Sewing is considering two ...

Bloomberg Red Kite, the world’s best-known metals hedge fund, reached a settlement with Barclays Plc over claims traders at the bank engaged in abusive trading and manipulated copper prices on the London Metal Exchange. The financial terms of the agreement will not be publicly disclosed, according to a statement. Red Kite had previously said actions by Barclays traders cost it ...

Bloomberg US banks think a Wall Street revival is coming. Executives cited a good start to April and the expectation of several large initial public offerings in coming months to offer hope after a rough start to 2019 for their capital-markets businesses. The five largest Wall Street firms’ trading and investment banking revenue both fell in back-to-back quarters, the first ...

Bloomberg South Korea’s central bank cut its economic growth and inflation forecasts and left its key interest rate unchanged as the nation’s export-dependent economy faces rising risks. BOK Governor Lee Ju-yeol said the gross domestic product was now expected to grow 2.5 percent and inflation to register 1.1 percent in 2019. Those marked downgrades from forecasts of 2.6 percent and ...

Bloomberg The Bank of Japan (BOJ) cut bond purchases for the first time in two months, surprising traders as local markets approach a 10-day shutdown for this year’s extended Golden Week holidays. The central bank offered to buy 160 billion yen ($1.4 billion) of securities maturing in the 10-to-25 year zone at regular operation, versus 180 billion yen previously. It ...