The European Union after Brexit is not going to be an indulgent place. The remaining members of the bloc will do what they can to defuse political issues that worked in favour of Brexit, and killing so-called benefit tourism is one of the top items on the agenda. Benefit tourism — citizens of poorer EU countries moving to the …

  As if the distress caused by India’s cash ban wasn’t enough, somebody started a rumour that Axis Bank Ltd., the country’s third-largest private sector lender by assets, would have its license revoked. Axis had to issue a statement to quell the speculation. But while this may have been a brief panic, the message to investors and analysts is clear: …

  Jean Pierre Mustier has a mandate to change UniCredit SpA and is wasting none of it. Five months after taking the reins of the Italian lender, the CEO unveiled a mammoth capital raising and a new business plan on Tuesday. The hope is that this covers the cost of UniCredit’s past mistakes. It doesn’t yet provide a sustainable business …