Banking

  Bloomberg The European Union’s top court backed EU guidelines designed to prevent taxpayers from footing the bill for bailing out stricken lenders, strengthening the hand of Brussels regulators as Italy fights to shield some bondholders caught up in the nation’s banking crisis. Tuesday’s decision is a show of support for the European Commission, which updated its crisis rules for ...

  Bloomberg Bank of America (BofA) Corp. posted higher profit in each of its four main businesses as bond-trading revenue increased more than analysts estimated and expenses fell. The second-biggest US bank by assets led financial stocks higher this week after reporting earnings per share of 36 cents, beating the 33-cent average estimate of analysts. Net income dropped 21 percent ...

  Bloomberg State Bank of India and Indian Overseas Bank are among 13 state-owned Indian lenders that will receive a total of 229.2 billion rupees ($3.4 billion) in capital as the government seeks to contain risks in the banking industry while sustaining credit growth. The State Bank of India will get 75.8 billion rupees, while Indian Overseas Bank will receive ...

  Bloomberg Rollo Roscow has maxed out his holdings of Sberbank PJSC, the Russian lender that has surged as much 119 percent from late January. If he had his way, he’d probably buy more. The advance in the London-traded stock comes after a 46 percent rally in 2015 and has been driven by a rebound in oil prices and a ...

  BLOOMBERG Bank of East Asia (BEA) Ltd. shares dropped the most in two weeks in Hong Kong after Elliott Management started legal action alleging that the family-run lender acted improperly when issuing stock, which it says diluted minority investors and entrenched management control. The stock sank as much as 2.8 percent on Tuesday, the biggest intraday slide since July ...

  Frankfurt / AFP Europe’s financial sector is showing further signs of mending and banks are increasingly competing for custom by easing credit standards, a key European Central Bank survey showed on Tuesday. The ECB said its quarterly bank lending survey (BLS) showed banks are easing credit standards for loans to companies. However, this is an encouraging sign, since the ...

  Bloomberg Ana Botin, the chairman of Banco Santander SA, is doubling the lender’s bet on fintech. Spain’s biggest bank said that it was boosting its investment in Santander InnoVentures, its London-based financial technology fund, to $200 million from $100 million. The fund takes minority stakes in promising startups, aiming to incorporate innovative technology in its banking operations. “A deeper ...

  Bloomberg Wells Fargo & Co. agreed to purchase a new London headquarters in a move that will enable the US bank to increase its presence in the UK capital. The building, known as 33 Central, is due to be completed in the third quarter of 2017, according to a statement on Monday from the developer, HB Reavis Group. The ...

  Bloomberg Just like Mark Carney, Mario Draghi can afford to wait a bit before adding more monetary stimulus. Economists in a survey predict the European Central Bank president will keep policy unchanged on Thursday but announce fresh measures before the end of the year. The meeting comes a week after the Bank of England, headed by Carney, opted not ...

  BLOOMBERG Gertjan Vlieghe, who was alone in voting for an interest-rate cut at the latest Bank of England meeting, said the UK needs a range of stimulus to combat the impact of its decision to quit the European Union. “The precise implications for the economy are uncertain, although the general direction of travel is likely to be lower growth ...