Banking

  Bloomberg Sintra was never meant to be like this. The European Central Bank’s annual forum in the luscious Portuguese retreat outside Lisbon, was intended as a laid-back event where central bankers and academic economists can thrash out the theories of monetary policy. Instead, reality has intruded once again, this time in the form of the UK’s shock decision to ...

  Bloomberg Nordea Bank AB underscored its intention to hand shareholders bigger dividends each year amid speculation it may need to hold more regulatory capital after underestimating the risk in its corporate loan book. The bank paid 64 euro cents per share in 2015, more than doubling payouts to investors since 2010. After backtracking in January on a pledge to ...

  Bloomberg Italy is considering injecting capital into some lenders after the U.K.’s vote to leave the European Union sparked a selloff among banks already hurt by investor concerns tied to their bad loans, according to people with knowledge of the discussions. The government is weighing measures that may add as much as 40 billion euros ($44 billion), said one ...

  Bloomberg PPC Ltd., South Africa’s largest publicly traded cement maker, said it received 4 billion rand (US$263 million) of bank guarantees to underwrite the sale of shares to existing investors, adding to facilities it received last week to redeem bonds. A group of lenders including Standard Bank Group Ltd, Nedbank Group Ltd, FirstRand Ltd’s Rand Merchant Bank and Barclays ...

  Bloomberg China weakened its currency fixing by the most since last August as global market turmoil spurred by Britain’s vote to leave the European Union sent the dollar surging. The People’s Bank of China set the reference rate 0.9 percent weaker at 6.6375 a dollar. A gauge of the greenback’s strength jumped 2.4 percent in the past two days, ...

  Bloomberg India’s economy will be among the least impacted in Asia by the UK’s vote to exit the European Union given its relatively low exposure to trade, according to Morgan Stanley. “Increased uncertainty in the external environment due to UK’s vote should add to downward pressures on growth and inflation in the region,” Morgan Stanley economists including Chetan Ahya ...

  AP The British were warned for weeks that a vote to leave the European Union would result in economic pain. Now they’ll find out whether it will. UK financial leaders are scrambling to reassure households, businesses and investors that they can contain the doom and gloom they had predicted in case of a British exit, or Brexit. The pound ...

  Bloomberg Saudi Arabia appointed JPMorgan Chase & Co, HSBC Holdings Plc and Citigroup Inc to arrange its first international bond sale, people with knowledge of the matter said asking not to be identified as the decision isn’t public. The banks declined to comment, while calls to Saudi Arabia’s finance ministry outside office hours weren’t immediately returned. Saudi Arabia is ...

  Bloomberg Marc Lasry, chairman and chief executive officer of hedge fund firm Avenue Capital Group, told Fox Business Network that the Federal Reserve is likely to hold interest rates steady after British voters’ decision to leave the European Union. “I don’t think the Fed’s going to raise rates right now,” Lasry told the business-news channel, according to excerpts from ...

  AP A new Chinese-led development bank has approved its first loans and expects to suffer no impact from Britain’s vote to leave the European Union, the bank’s president said Saturday at its first annual meeting. The Asian Infrastructure Investment Bank, launched in January with 57 member governments, already has received expressions of interest from possible additional members, said Jin ...