Banking

Bloomberg The Indian rupee may weaken as global funds start to hit buying limits for the nation’s debt and valuations for equities look expensive, according to HSBC Holdings Plc. “I won’t be surprised if we drift down to 65-65.25 to the dollar over the next two months,” Pradeep Khanna, HSBC’s head of global markets trading for India in Mumbai, said ...

Bloomberg Fears of a long spell of low oil prices haven’t shaken Wall Street’s confidence in the sector. With the price of crude languishing around $46 a barrel in New York, the industry’s bankers remain optimistic about their energy investments, according to JPMorgan Chase & Co. and Wells Fargo & Co. That’s different from a year earlier, when banks pulled ...

Bloomberg The pound rose to its highest since September as weak inflation data in the U.S. weighed on the dollar, while traders are increasingly betting on tighter monetary policy in the U.K. Sterling, which crossed $1.30 and rose against all of its major peers, has largely defied signs that the UK economy is slowing, with some Bank of England policy ...

Bloomberg South Africa’s central bank will persist in seeking a court order to set aside an instruction from the nation’s anti-graft ombudsman that its mandate must be changed, even after Public Protector Busisiwe Mkhwebane said she won’t oppose the regulator’s application. In a report last month, Mkhwebane instructed the legislature to start a process to amend the nation’s constitution to ...

Bloomberg UniCredit SpA and Koc Holding AS are weighing a capital increase of about $1 billion for their Turkish venture Yapi & Kredi Bankasi AS to strengthen its buffers, according to people with knowledge of the matter. UniCredit, which together with Koc owns 82 percent of the Turkish bank, wants to carry out the fundraising by the end of the ...

Bloomberg Deutsche Bank AG is targeting the Middle East as a priority region for wealth management as the lender seeks to recoup assets lost late last year when concerns about its capital levels prompted an exodus of clients. The Frankfurt-based bank is seeking to hire relationship managers and expand the products it offers wealthy clients in the region to attract ...

Bloomberg Former Credit Suisse Group AG trader Nikolay Storonsky is getting $66 million from investors including Index Ventures to help expand his business offering banking services and add cryptocurrency exchange for customers. His London-based Revolut Ltd. raised the money in a round that included Balderton Capital and Ribbit Capital, according to a statement on Wednesday. Storonsky, 32, will use the ...

Bloomberg Bank of England (BOE) Deputy Governor Ben Broadbent said he’s not ready to vote for higher interest rates, even though he sees pressures to do so building up. “There is reason to see the committee moving in that direction, but there are still a lot of imponderables,” Broadbent said in an interview with The Press and Journal. “It is ...

Bloomberg The franc’s decline to a one-year low suggests the Swiss National Bank (SNB) may only need to stand still to achieve its aim of a weaker currency. Major central banks across Europe are hinting at unwinding monetary policy stimulus, leaving the SNB among a shrinking dovish camp. UBS Group AG and Nomura Holdings Inc. predict further downside for the ...

Bloomberg Hiroshi Iwama and Mitsunori Watanabe used to joke about merging their banks in central Japan. When the Bank of Japan introduced negative interest rates last year, things got serious. The two golfing buddies run Mie Bank Ltd. and Daisan Bank Ltd., two of Japan’s roughly 100 regional lenders. For years, these banks dotted around the nation have faced headwinds ...