Banking

  Bloomberg The world’s biggest banks have already had to use about $30 billion of their own cash this year to fund loans for acquisitions and buyouts that they weren’t able to offload to investors. The lenders have been forced to fund at least 15 deals in the US and Europe as inflation and risk of a recession evaporates investor ...

  Bloomberg Visa Inc’s promise to disclose additional information about what it pays employees has led a prominent activist investor to ditch a planned proxy fight. Arjuna Capital withdrew a shareholder proposal that asked Visa to disclose quantitative data about what it pays employees and how jobs and compensation are distributed by race and gender. Arjuna said it was told ...

  Bloomberg Goldman Sachs group Inc’s David Solomon is embarking on his third major reorganisation in just four years as chief executive officer, undoing some of the signature moves he made as recently as 2020. The Wall Street giant plans to once again combine its expanded asset management and private wealth businesses into one unit run by Marc Nachmann. Goldman ...

  Bloomberg HSBC Holdings Plc has been reprimanded by a UK watchdog for violating environmental advertising rules, after it sought to depict itself as a green bank in a set of posters. In the latest sign that regulators are growing increasingly intolerant of all manifestations of greenwashing, the Advertising Standards Authority (ASA) said it has ordered HSBC to ensure the ...

  Bloomberg The Bank of England (BOE) will start its delayed bond sales early next month, refocusing on the fight against record inflation after averting the threat of a market meltdown. The announcement of so-called quantitative tightening is a statement of intent from the central bank, which had been on the defensive for weeks after fallout from a government plan ...

  Bloomberg Bank of Nova Scotia, the Canadian bank with the largest exposure to Latin America, sold $750 million of loss-absorbing hybrid securities amid mounting concerns about the spillover effects of US Federal Reserve rate hikes on emerging-market economies. Scotiabank priced 60-year so-called limited recourse capital notes at a yield of 8.625%, down from around 8.75% initially discussed. That’s an ...

  Bloomberg Ireland will make it easier for would-be borrowers to qualify for mortgages next year as it relaxes its income-to-loan requirements in an effort to widen accessibility in the face of a shortage of supply and record prices. Prospective first-time homeowners will be able to borrow as much as four times their gross income, up from a limit of ...

  Bloomberg Deutsche Bank AG is set to post a capital gain of more than €300 million ($292 million) in the fourth quarter after completing the sale of its Italian financial promoters network to Zurich Insurance group AG. The German lender will book the gain as additional revenue in the final quarter of the year. Deutsche Bank said Monday that ...

  Bloomberg Mastercard Inc. debuted a service that will let consumers buy and sell digital assets through their bank accounts, potentially paving the way for thousands of finance firms to offer crypto trading for the first time. The product, called Crypto Source, will start in the US, Israel and Brazil early next year through a pilot program, Ajay Bhalla, Mastercard’s ...

  Bloomberg BNP Paribas SA has won approval to set up a wealth-management joint venture in China, adding competition to global rivals including BlackRock Inc. and Amundi SA vying for a slice of the $4 trillion market. China’s banking regulator has granted permission for the French lender’s asset-management arm to form the venture with the wealth unit of Agricultural Bank ...