Banking

  Bloomberg One of Goldman Sachs Group Inc.’s out-of-consensus calls for 2017 is already bearing fruit. While big investors are positioned for Turkey to do well, analysts led by Caesar Maasry recommended greater caution in a report — shortly before the lira plunged to a fresh lows against both the US dollar and the euro. The bank’s analysis of actively-managed ...

  Bloomberg Norway’s biggest bank, DNB ASA, has more capital than it needs and will probably start using the excess funds to buy back its own shares. After topping the European Banking Authority’s resilience score (DNB’s capital reserves were hardly affected in the stress tests’ ‘adverse’ scenario), the Oslo-based lender is now attracting investor interest as analysts predict shareholder rewards ...

  Bloomberg Bank of America Corp. (BofA) is poised to boost bonuses for many of its bond traders and trim payouts for those handling stocks, people with knowledge of the matter said. The combined compensation pool will drop significantly, though fewer workers will divvy the rewards. Senior executives have earmarked as much as 10 percent more to pay the fixed-income ...

  Bloomberg No wonder Germany is on the warpath against a proposed global standard for how banks calculate the capital they need: Its largest lenders rank among the worst when it comes to how they assess risk. That means Deutsche Bank AG and Commerzbank AG will be affected more than most big lenders and may have to raise additional capital, ...

  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 ...