Bloomberg UniCredit SpA dropped in Milan trading after it said the European Central Bank had demanded an improved plan for dealing with bad loans by the end of February. The bank’s strategy for shoring up its finances may not adequately address the ECB’s concerns about credit quality, according to a filing on Monday detailing UniCredit’s plans for a 13 …

  Bloomberg Citigroup Inc. plans to exit the mortgage-servicing business by the end of 2018 to focus on making new loans. The bank reached an agreement to sell the servicing rights on Fannie Mae- and Freddie Mac-backed loans with $97 billion of outstanding balances to New Residential Mortgage LLC, New York-based Citigroup said Monday in a statement. The bank also …

  Bloomberg Central bankers may do well to pay less attention to the bond market and their own forecasts than they do to newspaper articles. That’s the somewhat heretical finding of a new algorithm-based index being tested at Norway’s central bank in Oslo. Researchers fed 26 years of news (or 459,745 news articles) from local business daily Dagens Naringsliv into …