Banking

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 ...

Bloomberg Two whistle-blowers are set to share a record $61 million award from the Securities and Exchange Commission for helping make the case that JPMorgan Chase & Co. failed to disclose to wealthy clients that it was steering them into investments that would be most profitable for the bank. The SEC issued letters notifying six whistle-blower applicants of the preliminary ...

Bloomberg In October 2015, Credit Suisse Group AG Chief Executive Officer Tidjane Thiam and the head of its markets unit, Timothy O’Hara, laid out their vision for a business they said would be key to overhauling one of the world’s biggest investment banks. “Credit Suisse has consistently been a top-three trader of global stocks since 2010,” O’Hara, a 27-year veteran ...

Bloomberg Barclays Plc’s clients may have to pay as much as 350,000 pounds ($455,000) to get the top service package from its equities analysts once free research is banned in Europe, the first price for stocks coverage to emerge from a major bank. The firm is proposing three levels of service — bronze, silver and gold — with the premium ...

Bloomberg A London judge rejected an application by a group representing 46 million consumers to pursue a lawsuit against Mastercard Inc. that would have been the largest of its kind since U.S.-style class actions were introduced in the UK. The 14 billion-pound ($18 billion) lawsuit initiated by Walter Merricks, a lawyer who once led the UK organization that handles consumer ...