Banking

  Bloomberg China’s capital outflows are accelerating and the central bank is selling larger amounts of foreign exchange, Goldman Sachs Group Inc warned as the yuan headed for its biggest annual decline in more than 20 years. A net $69.2 billion exited the nation in November, compared with a monthly pace of around $50 billion since June, Goldman economists led ...

  Bloomberg Banca Monte dei Paschi di Siena SpA is attempting to sell shares on the market while the government prepares a plan to inject as much as 15 billion euros ($15.7 billion) into Italian banks should the fundraising fail, according to a person with knowledge of the matter. Italy’s Treasury plans to participate in the share sale, which may ...

  Bloomberg Deutsche Bank AG agreed to pay $37 million and admit to misleading customers about its dark pool stock-trading platforms to settle a joint state and federal probe, bringing the bank a step closer to resolving several potentially costly legal challenges in the US. The bank will admit to violating state and federal securities laws over a two-year period ...

  Frankfurt am Main / AFP The European Central Bank must stick to its price stability mandate and not be swayed by politics, Germany’s top central banker said, warning against extending loose monetary policy for too long. “The impression must not be allowed to arise that central banks will step into the breach for politicians or that monetary policy is ...

  MUSCAT / Reuters Oman’s central bank won’t automatically imitate last week’s interest rate hike by the US Federal Reserve, central bank executive president Hamood Sangour Al Zadjali said on Sunday. Oman is the only member of the six-nation Gulf Cooperation Council not to announce an official interest rate rise in the wake of the Fed’s 0.25 percentage point increase. ...

  Emirates Business Saxo Bank, the online multi-asset trading and investment specialist, announces that it is launching a combination order ticket for all clients trading contract options. The combination order ticket will enable clients to deploy multi-legged option strategies by simultaneously placing orders to buy and/or sell different options from the same order ticket. Georgio Stoev, Futures and Listed Options ...

Reykjavik / AFP Iceland’s central bank on Wednesday shaved its key interest rate by a quarter of a point to 5.0 percent, citing the krona’s appreciation and political uncertainty following the country’s October elections. Gross domestic product, business investment growth and export growth had all been stronger than projected for the first nine months of the year, the bank noted. ...

Bloomberg JPMorgan Chase & Co. is looking to sell structured notes online and is building a website that will help retail brokers offer the securities, according to people with knowledge of the matter, as the largest US bank looks to cut its costs for selling bonds. The bank plans to launch its site as soon as the middle of next ...

  Bloomberg Banca Monte dei Paschi di Siena SpA received regulatory approval to extend and expand a debt-for-equity swap in a last-ditch effort to raise 5 billion euros ($5.2 billion) privately and avoid a state rescue. The exchange offer will involve about 4.5 billion euros of Tier 1 and Tier 2 securities and will run until 2 p.m. on December ...

  Bloomberg Prudential Financial Inc. said the relationship with Wells Fargo & Co. that led to a whistle-blower lawsuit and state probes over suspected sales abuses generated a tiny fraction of the life insurer’s revenue. “We do not gauge the importance of this matter in financial terms, but for purposes of this call, it’s probably useful to put some financial ...