Banking

Bloomberg As markets cheer European Central Bank President Mario Draghi for keeping the exit from monetary stimulus wide open, the decision is sitting uneasily with some of his colleagues. A day after policy makers extended their bond-buying program for a third time and pledged to do yet more if needed, Bundesbank President Jens Weidmann went public with his opposition by ...

Bloomberg Not everyone at the Bank of England will be on board with raising interest rates. While November 2 may see the UK’s first rate increase in more than a decade, economists surveyed by Bloomberg say three out of nine officials on the Monetary Policy Committee will vote against the move. That’s based on the median estimate from 24 responses. ...

Bloomberg Barclays Plc and the US Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement, according to people with knowledge of the situation. The Justice Department has responded in recent weeks to requests from the London-based bank to reopen negotiations, said the people, ...

Bloomberg UBS Group AG relied on its corporate finance business to boost profit for the investment bank in a tough quarter for trading. The division that advises companies on mergers and helps them with share and debt sales generated 35 percent more income in the three months through September. Landmark transactions supported the performance, UBS said, while stock-related activities contributed ...

Bloomberg Deutsche Bank AG was sued by Colin Fan, the former co-head of its investment banking unit, for at least 10 million pounds ($13 million) over unvested share awards the lender said were cancelled after a probe into personal trades that breached conflict-of-interest rules. Details about Fan’s case were disclosed in a short claim form from July and the lender’s ...

Bloomberg India’s state-run banks surged in Mumbai trading after the government pledged to inject an unprecedented 2.11 trillion rupees ($32 billion) of capital into the beleaguered lenders to revive credit growth. State Bank of India jumped as much as 25 percent, the biggest intraday gain in eight years. Punjab National Bank advanced as much as 40 percent. The Nifty PSU ...

Bloomberg Citigroup Inc. plans to hire about 20 bankers in Saudi Arabia and start operations by the end of the year after receiving an investment banking license for the kingdom in April. “The total number of people we want to have on the ground for the CMA license is up to 20 for our medium-term plans here,” James Forese, Citigroup’s ...

Bloomberg Blackstone Group LP could double its assets under management to $800 billion in five years, according to CEO Steve Schwarzman. “We have internal targets, plans, aspirations to basically double where we are which would take us to $800 billion,” Schwarzman said in Riyadh on Wednesday. When asked whether the New York-based asset manager could be a trillion dollar fund, ...

Bloomberg Singapore’s second-largest lender has decided that the best place to expand its research is the country’s rival market Hong Kong. Oversea-Chinese Banking Corp. plans to add coverage of 60 Hong Kong-listed stocks, with 14 to 20 started by year-end, according to Carmen Lee, its head of research. That would supplement the around 75 firms already tracked by Bank of ...

Bloomberg Barclays Plc’s Jes Staley may need to reassure investors on two fronts when the bank reports third-quarter results on Thursday. While an industrywide slump in securities trading has likely weighed on the investment bank, analysts will look for any clues on how the group’s more profitable retail and card businesses are faring after US rivals signaled this month they’re ...