Banking

Bloomberg The US dollar, down 8 percent this year, will probably weaken further, according to Morgan Stanley. That is primarily good news for American stock investors. The greenback may finish 2017 down 13 percent, handing S&P 500 companies a 6.5 percent boost to their rolling 2018 per-share estimates, Morgan Stanley analysts including Michael Wilson said in a note on Monday. ...

Bloomberg After months of investor concern that slammed everything from Mexico’s currency to its inflation outlook, the nation’s economy is riding a good streak. A report showed the annual inflation rate fell in early July by the most since January, suggesting that the pace of consumer price increases may finally be stabilizing after a year of acceleration. Another key indicator ...

Bloomberg Deutsche Bank AG may shift about 300 billion euros ($350 billion) from the balance sheet of its U.K. entity to Frankfurt as client trading and assets migrate to the continent following Britain’s decision to leave the European Union, according to a person familiar with the matter. The project, dubbed Bowline, calls for Frankfurt trading to go live in September ...

Bloomberg The land of Abenomics is betting on Modinomics. The demand is so strong that assets of Nomura Holdings Inc.’s India equity fund quadrupled to almost 400 billion yen ($3.6 billion) in just the past year. Japanese investors owned $13 billion of Indian stocks and bonds at the end of June, the most in data going back to 2012, according ...

Bloomberg Greece will return to the bond market after a three-year hiatus, banking on investor interest in its recovery story. The country, which was the epicenter of the European sovereign crisis that began in 2009, is looking to sell five-year bonds, according to an Athens Stock Exchange filing. It is also inviting holders of 4.75 percent bonds due in 2019 ...

Bloomberg Several Chinese banks that helped fund HNA Group Co.’s global acquisition spree are losing their appetite for financing the company, according to people familiar with the matter. Three of the banks have decided to stop extending new loans to HNA, said the people, who asked not to be identified because the information is private. One made the decision early ...

Bloomberg Uber Technologies Inc. is at risk of losing out on another big chunk of the global market. Grab, the leading provider of ride-hailing services in Southeast Asia, said on Monday it raised $2 billion from Japan’s SoftBank Group Corp. and China’s Didi Chuxing and expects to receive another $500 million from new and existing backers. The money will help ...

Bloomberg Wells Fargo & Co., already in the regulatory spotlight because of last year’s fake-account scandal, is drawing renewed scrutiny after a lawyer’s unauthorized release of sensitive client details for tens of thousands of accounts belonging to wealthy customers of its brokerage unit. Regulators have started asking questions about the breach, according to a person with knowledge of the matter, ...

Bloomberg Latvian regulators fined two more lenders over involvement in attempts to circumvent international sanctions on North Korea, bringing the total to five banks fined with the investigation continuing. Norvik Banka agreed to pay 1.3 million euros ($1.5 million) and Rietumu Banka will pay 1.6 million euros, the Financial and Capital Market Commission said in a statement. The violations — ...

Bloomberg Bitcoin fell below $2,000 for the first time since May amid anxiety its dominant status is under threat. As enthusiasts consider adopting competing updates to the blockchain technology that underpins the exchange method by the end of July, it has raised the possibility of the cryptocurrency splitting in two. Bitcoin has lost about a third of its value since ...