Banking

Bloomberg There’s a lot of cash swishing about in the Nordic region and that leaves plenty of potential for more mergers and acquisitions, according to JPMorgan Chase & Co. “There’s massive amounts of dry powder both on the corporate side, where cash balances are very good, and on the private equity side, where we see a lot of activity,” said ...

Bloomberg Banco Santander is riding Spain’s economic recovery and rising demand for loans, helping offset emerging market currency volatility and the UK slowdown. Net income of 1.7 billion euros ($2 billion) beat analyst’s estimates in the second quarter, with earnings up in Brazil even after the real tumbled. In Spain clients took advantage of the economic upswing to take on ...

Bloomberg Some Chinese banks have received notice from regulators that a specific capital requirement will be eased in order to support lending, as the authorities try to mitigate increasing risks to the economy from the trade war. The People’s Bank of China told some institutions on Wednesday that the so-called “structural parameter” in the Macro-Prudential Assessment of their balance sheets ...

Bloomberg Nomura Holdings Inc.’s first-quarter profit plunged to the lowest in two years as its wholesale business lost money thanks to a slump in fixed-income trading, while the domestic retail operation lost steam. Net income fell 91 percent to $47 million in the three months ended June 30 from a year earlier, Japan’s biggest brokerage said. The firm posted its ...

Bloomberg Two of the world’s biggest money managers are diverging in their views on whether the Bank of Japan will tweak its ultra-loose monetary policy as early as next week. Japan’s central bank may surprise investors with some fine tuning of its stimulus policy when it meets on July 31, according to BlackRock Inc. Not so, said Vanguard Group Inc., ...

Bloomberg India’s foreign exchange reserves may soon drop below the $400 billion mark for the first time since November as the central bank steps up action to shore up one of Asia’s worst-performing currencies. Reserves have steadily declined by $21 billion from a record peak of $426 billion in mid-April, and official data showed it was little changed in the ...

Bloomberg Deutsche Bank AG is cutting dozens of employees and consolidating space at its Chicago office as part of a broader plan to shrink its US operations, according to people briefed on the matter. The German lender’s Chicago office — which houses units including front-office trading, operations and treasury — will be reducing headcount, said the people, who asked not ...

Bloomberg The Reserve Bank of New Zealand’s (RBNZ) new monetary policy committee with external members could begin deciding on interest rates in the second quarter of next year, Finance Minister Grant Robertson said. Legislation to enact the government’s RBNZ reforms should pass into law by April, which could allow the enlarged policy committee to begin deliberations as soon as May, ...

Bloomberg Blackstone Group LP, the world’s largest alternative asset manager, has picked banks for India’s first real estate investment trust (REIT) listing, people with knowledge of the matter said. The US company and local partner Embassy Group selected firms including Bank of America Corp., Morgan Stanley, Kotak Mahindra Bank Ltd. and JPMorgan Chase & Co., said the people. The REIT ...

Bloomberg The European Central Bank (EDCB) stuck to its plan to end bond purchases as the European Union and US stepped back from a trade war andthe currency bloc’s economic expansion remained solid. The Frankfurt-based institution reiterated it will continue buying $35 billion of assets a month until the end of September, reduce the pace to 15 billion euros from ...