Banking

Bloomberg A year after India’s central bank tightened the screws on companies delaying debt payments, the nation’s Supreme Court is poised to begin hearing arguments on whether the regulator’s diktat applies across industries. Hanging in the balance is the fate of more than $25 billion of loans to power producers. They are among parties contesting the central bank directive that ...

Bloomberg Japanese banks’ quest for yield is creating more turbulence, with Mizuho Financial Group Inc. announcing another round of losses on its foreign-bond holdings as part of a surprise writedown that will severely curtail full-year profit. Mizuho slashed its net income forecast by 86 percent on Wednesday after booking 680 billion yen ($6.1 billion) of charges tied to business restructuring ...

Bloomberg Deutsche Bank AG estimates that its equities trading unit lost about $750 million last year, according to people with knowledge of the matter. The US equities unit hasn’t turned a profit for many years, the people said. The bank at one point considered closing its entire equities operation, the people said, asking not to be identified discussing the matter. ...

Bloomberg Aberdeen, Washington, is a far Northwest outpost of JPMorgan Chase & Co., with one lonely branch perched near the Pacific, 2,900 miles from Wall Street. Now the bank is planning to depart the rainy timber town that gave the world Kurt Cobain. The next-closest Chase branch is 40 miles away. At the same time, JPMorgan plans to open 70 ...

Bloomberg In Sweden, finding a bank not embroiled in controversy is getting difficult these days. A number of clients who left Nordea Bank Abp after it opted to move to Helsinki from Stockholm ended up at Swedbank AB. Now, they’re questioning whether that was a good choice given allegations of money laundering against their new lender. Customers to have left ...

Bloomberg Indonesia’s state-run PT Bank Mandiri is exploring a takeover of PT Bank Permata, the rival lender backed by Standard Chartered Plc, people with knowledge of matter said. Mandiri is working with Morgan Stanley on the potential deal, according to the people, who asked not to be identified because the information is private. It is considering buying control of Permata ...

Bloomberg Philippines President Rodrigo Duterte surprised central bank watchers by naming his budget secretary as governor of the monetary authority. The peso slumped the most in more than five years. Benjamin Diokno, 70, will succeed Nestor Espenilla, who died in February after a battle with cancer. The new Bangko Sentral ng Pilipinas governor will serve the remainder of his predecessor’s ...

Bloomberg Australia’s central bank held its nerve in the face of a credit squeeze and tumbling property prices, keeping interest rates unchanged as it waits to see how consumers respond. Governor Philip Lowe kept the cash rate at 1.5 percent on Tuesday — as expected by markets and economists — saying “the main domestic uncertainty continues to be the strength ...

Bloomberg Malaysia’s central bank kept its benchmark interest rate unchanged on Tuesday, saying inflation is likely to remain low after the economy slipped into deflation in January. The central bank kept its overnight policy rate at 3.25 percent, in line with the forecasts of all 22 economists surveyed by Bloomberg. Bank Negara Malaysia has left the rate on hold since ...

Bloomberg Nordea Bank Abp sank as much as 6.5 percent on Monday ahead of report due to be broadcast this afternoon that will focus on the biggest Nordic lender’s alleged involvement in money laundering. The news appeared to drag down a number of other Nordic bank shares with DNB ASA, Norway’s largest lender, falling as much as 4.6 percent. SEB ...