Banking

Bloomberg Danske Bank A/S hired 2,700 people last year as part of a strategy it says will help it cope with the digital age. In an industry relying increasingly on robots, adding headcount isn’t a given. Danske Chief Financial Officer Jacob Aarup-Andersen says management is building up its technology department, adding staff to areas such as the “customer experience.” Net ...

Bloomberg The European bank with the most capital relative to total assets is DNB ASA of Norway. That pedigree will make it easier to sell a new kind of senior debt that’s designed to absorb losses if issuers get into trouble, according to the bank. “We don’t think that will be a big challenge or problem for DNB due to ...

Bloomberg UK politicians pushing for a post- Brexit trade deal on financial services are trying to stem an exodus of bankers from the City of London. For British banks, the stakes aren’t quite as high. A UK withdrawal with no preferential access to the single market would result in declining tax revenue and the potential loss of 75,000 finance jobs ...

Bloomberg A growing number of big US credit-card issuers are deciding they don’t want to finance a falling knife. JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. JPMorgan, enacting the ban, doesn’t want the credit risk associated with the transactions, company spokeswoman Mary Jane ...

Bloomberg Deutsche Bank AG Chief Executive Officer John Cryan, seeking to restore morale after massive bonus cuts last year, raised compensation for traders and bankers in 2017. He didn’t get much in return. Trading at Frankfurt-based Deutsche Bank slumped 27 percent in the fourth quarter to 886 million euros ($1 billion), while fees from advising on deals and arranging debt ...

Bloomberg After markets closed on her final workday in office, Federal Reserve Chair Janet Yellen delivered a blow to one of the nation’s largest banks: Wells Fargo & Co. won’t be allowed to grow until it cleans up. Fed officials said the San Francisco-based lender’s pattern of consumer abuses and compliance lapses called for an unprecedented sanction. Until Wells Fargo ...

Bloomberg The Bank of England will probably raise its economic growth forecasts next week, setting the scene for a potential interest-rate increase within months. In a survey for Bloomberg, all but one of 17 economists see the BOE lifting its 2018 projection, with the predictions for the next two years most likely to be left unchanged. The central bank will ...

Bloomberg European Union policy makers are softening plans to stop clients pulling money from banks suffering a financial crisis, according to a draft plan seen by Bloomberg News. Regulators have been debating the length of time that traders and other clients should be suspended from yanking funds when a lender is deemed to be failing. An earlier proposal for two ...

Bloomberg The Czech central bank will probably raise interest rates for the third occasion in less than a year on Thursday and for the first time since 2013 release a currency outlook that may guide investors on what to expect in further monetary tightening. The Czech National Bank will raise its main interest rate to 0.75 percent from 0.5 percent, ...

Bloomberg For a central bank that’s become used to an almost limitless ability to steer markets, Hungary’s rate meeting served as a measure of reckoning, with officials looking to guide their latest round of unconventional easing back on track. Policy makers, who had to scramble to revamp the rules after a swap sale sparked the biggest bond sell-off in more ...