Banking

  Reuters Bitcoin plunged another 12 percent after China’s central bank urged investors to take a rational approach to the digital currency, which has is on track for its heaviest two-day falls in two years. Bitcoin had gained more than 40 percent in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record ...

  Bloomberg Goldman Sachs Group Inc. banker Jim Donovan is the front-runner to be President-elect Donald Trump’s pick for undersecretary of domestic finance, according to a person familiar with the decision. He’d be the fourth appointee with close ties to the investment bank tapped to serve in the administration. If chosen and confirmed, he would be responsible for coordinating policies ...

  Bloomberg Morgan Stanley, Wall Street’s biggest stock-trading firm by revenue, is cutting its global bonus pool for the equities division by as much as 4 percent and dismissing some employees after the industry’s results flagged last year, according to people with knowledge of the plans. The firm, which is set to pay annual bonuses next month, has been fine-tuning ...

  Bloomberg Credit Suisse Group AG may not need to sell stock in its Swiss unit to raise capital after the bank resolved a major legal issue, according to Harris Associates, one of its biggest investors. The bank announced in December that it would pay more than $5 billion to end a years-long US investigation into the role of its ...

  Bloomberg Indonesia’s government is considering curbs on negative research reports by foreign banks, building on its decision to punish JPMorgan Chase & Co. for issuing a bearish call on the country’s equity market. The finance ministry may ask top management at global banks which hold primary dealerships in Indonesian sovereign bonds to sign pledges to refrain from issuing research ...

  Bloomberg China’s foreign currency holdings remained above $3 trillion in December even as the yuan capped its steepest annual decline in more than two decades. Reserves fell $41.08 billion to $3.01 trillion, the People’s Bank of China (PBOC) said in a statement Saturday. That matched a $3.01 trillion estimate in a Bloomberg survey of economists. China may take measures ...

  Bloomberg Access Bank Plc is predicting that the level of troubled loans in Nigeria will continue to climb before an economic recovery in the second half of the year brings relief to the country’s lenders. “Across the entire industry you’ll see an uptick in non-performing loan ratios,” Chief Executive Officer Herbert Wigwe said in an interview in Lagos, the ...

  Bloomberg Deutsche Bank AG is supposed to give relief to subprime mortgage borrowers as part of a $7.2 billion settlement with the US government. It is considering an unusual approach to meeting that requirement: lending money to private equity firms and hedge funds. Germany’s biggest bank, dogged last year by questions about its capital levels, is exploring ways to ...

  DUBAI / Reuters Qatar’s central bank said on Thursday it had sold 1.4 billion riyals ($385 million) of Treasury bills at a monthly auction this week, with yields rising from December’s auction. It sold 750 million riyals of three-month bills at a yield of 1.84 percent, 500 million riyals of six-month at 2.06 percent and 150 million riyals of ...

  Bloomberg Watch out for the unexpected in commodities in 2017. Barclays Plc said raw materials markets from energy to metals face the high likelihood of disruptions, giving a laundry list of possible threats including a default by Venezuela, riots in Chile and a trade war with China. “The new politics of populism and protectionist trade policies have the potential ...