Banking

Bloomberg Nordea Bank AB will approach about 500 employees in Finland as it starts acting on a program announced in October to cut thousands of jobs. The biggest Nordic bank will ax about 420 jobs and move another 50 to Estonia and Poland, Nordea said on its website. The reductions are equivalent to about 6 percent of its workforce in ...

Bloomberg The great credit party that’s taken yield premiums in major markets down around lowest in a decade is probably months away from an end, as central banks normalise monetary policy and the economic outlook softens, Societe Generale SA predicts. “We expect next year to be a transition year, when the ultra-low yield environment finally starts to lose its grip,” ...

Bloomberg Jes Staley’s latest problem at Barclays Plc? Not enough people want to leave. The bank has seen a decline in staff voluntarily leaving in the aftermath of Brexit, which managers are attributing partly to fears their positions may be relocated if they switch to a rival less tied to London, according to people familiar with the trend. The lower ...

Bloomberg India’s central bank kept interest rates unchanged as rebounding inflation limits room to spur an economy struggling to recover from disruptive government policies. The benchmark repurchase rate was left at 6 percent, the Reserve Bank of India said in a statement in Mumbai on Wednesday. Five of the six-member monetary policy committee voted for the move, which was predicted ...

Bloomberg Bank Indonesia sees no reason to adjust monetary policy if inflation and the currency remain in line with its forecasts, Assistant Governor Dody Budi Waluyo said. Inflation is still within the central bank’s target and the currency is sta- ble, Waluyo said on a panel at Bloomberg’s Year Ahead Asia Conference in Jakarta on Wednesday. “As long as our ...

Bloomberg Hungarian central bankers are joining the quantitative easing (QE) era just as major global counterparts such as the US Federal Reserve look to leave it. The National Bank of Hungary will start buying mortgage-backed securities from January in its latest move to bring investors to heel and drive down interest rates. Departing from the approach of most small central ...

Bloomberg The chief executive officer of Nordea Bank AB says his industry needs to rethink pretty much everything it’s doing to brace for the future. And that includes how much it’s paying bankers. The Nordic region’s biggest financial conglomerate is already in the process of cutting 6,000 jobs as part of a shift towards relying more on technology and less ...

Bloomberg A high-profile plan to prevent federal watchdogs from getting too cozy with banks they are supposed to police has been scrapped by President Donald Trump’s newest Wall Street regulator. For years, the Office of the Comptroller of the Currency intended to remove hundreds of examiners who work inside the offices of JPMorgan Chase & Co., Citigroup Inc. and other ...

Bloomberg Deutsche Bank AG’s investment unit said it plans to pay out most of its earnings to shareholders as it seeks to attract investors to a planned initial public offering next year. The asset manager will use its DWS German retail brand to sell its products globally and will be renamed to reflect that brand, the bank said on Tuesday. ...

Bloomberg The Reserve Bank of New Zealand’s new assumption that global inflation will stay lower for longer means it is more exposed to the risk of prices picking up, Acting Governor Grant Spencer said. “More recently we have been assuming greater persistence in low global inflation and this is contributing to our current flat track for future OCR levels,” Spencer ...