Banking

Bloomberg Deutsche Boerse AG’s clearinghouse plans to start a revenue-sharing plan with its biggest members in a bid to lure business from London after Brexit. The Eurex Clearing partnership program will reward its 10 most active participants with a share of revenue, and give board seats at the clearinghouse to the five largest. Deutsche Boerse has already received interest from ...

Bloomberg Ignazio Visco might be just days away from pulling off the second coup of his unexpected tenure at the helm of Italy’s central bank — by staying on. The Bank of Italy governor, selected out of the blue by then-premier Silvio Berlusconi in 2011 after weeks of speculation that hadn’t mentioned him, may be about to benefit from a ...

Bloomberg China’s central bank could adjust monetary policy again in the coming months, in response to changes in the economy or the shifting agendas of top political leaders following the 19th Party Congress, according to Goldman Sachs Group Inc. For hints on how monetary policy will evolve, investors should piece together a range of abstract and irregular signals ranging from ...

Bloomberg HSBC Holdings Plc selected John Flint, head of retail banking and wealth management, to be the new chief executive officer and has asked the Bank of England for permission to make the appointment, the Sunday Times reported, citing people it didn’t identify. The London-based bank’s board approved 49-year-old Flint’s appointment after the arrival of new Chairman Mark Tucker last ...

Bloomberg The world’s major central banks are declaring last orders at the punchbowl. The Federal Reserve — which has been raising interest rates since 2015 — takes the next step towards normalizing monetary policy this month when it starts to reduce its $4.5 trillion balance sheet. The European Central Bank is expected to soon lay out its own plans for ...

Bloomberg A record number of initial public offerings in the Nordic region is benefiting some banks more than others. Among non-Nordic banks, no one’s doing better than Goldman Sachs Group Inc., according to data compiled by Bloomberg on firms advising on the region’s IPOs. Morgan Stanley tops the rankings, when all equity sales are taken into account. But when it ...

Bloomberg A Bank of England (BOE) note with a face value of 10 pounds ($13) has sold for more than 700-times that amount at auction as Britain’s obsession with collectible new note issues shows no sign of abating. The tenner, as the bills are known in the UK, has the serial number AA01 000010 and sold for 7,200 pounds — ...

Bloomberg Royal Bank of Scotland Group Plc (RBS) Chairman Howard Davies said details of a post-Brexit transitional deal with the European Union need to be outlined in the next five months to stop more financial-services jobs from leaving London. “If there are no details by the first quarter of next year, the number of moves of people out of London ...

Bloomberg Zimbabwe’s money shortage has seen card and mobile-money payments eclipse cash sales at the nation’s retailers, throttling suppliers’ stock of hard currency needed to put goods on shelves and forcing up food prices. Cash transactions have shrunk to about 2 percent of daily takings across the 33-store Spar Zimbabwe chain, from 60 percent a year ago, Managing Director Terence ...

Bloomberg Wells Fargo & Co. is wrapping up one of its worst years ever by passing a baton to Washington’s new favourite financial-industry villain: Equifax Inc. Executives from both companies will travel to Capitol Hill this week to testify in overlapping hearings about efforts to aid customers stung by lapses at their firms. Lawmakers on both sides of the aisle ...