AFP Postal Savings Bank of China (PSBC) made a low-key debut on the Hong Kong bourse on Wednesday, despite notching up the world’s biggest IPO in two years aimed at expanding the business. China’s fifth-biggest lender raked in a colossal $7.4 billion in the flotation, with a report in the Chinese language financial news portal Caixin saying a fund …

  AFP The board of the World Bank has unanimously agreed to name Jim Yong Kim to a second term as president, the global lender announced. Kim had been the only candidate in a process criticized by World Bank staff and campaigners as lacking in transparency and dominated by the United States. In a statement announcing the decision, the Bank’s …

  AFP Royal Bank of Scotland (RBS) on Wednesday said it had agreed a fine of $1.1 billion (982 million euros) with US authorities over the alleged mis-selling of mortgage securities ahead of the 2008 financial crisis. It comes a week after US authorities said they would seek $14 billion from Deutsche Bank over similar allegations. “The Royal Bank of …