Bloomberg Bank stock downgrades keep piling up as analysts caution about interest rates and credit with fourth-quarter earnings due to kick off next week. Raymond James downgraded 13 banks and lowered earnings estimates for most banks across its coverage. Analysts David Long and Michael Rose expect “abundant” downward revisions to net interest margin “with rates no longer providing such a ...

Bloomberg Nigeria is preparing rules that will allow wireless carriers to transfer cash, softening a previous policy that protected the turf of banks in Africa’s most populous country. The central bank may have realised it can’t rely on lenders alone to achieve its objective of extending services to the 50 million adults still without a bank account in the nation ...

Bloomberg General Electric Co jumped as a potential megadeal signalled to investors that the ailing manufacturer has another tool to climb out of its deep hole. Apollo Global Management LLC is working to line up financing to buy GE’s jet-leasing unit, which could be valued at as much as $40 billion, Bloomberg reported after the close of trading on January ...