Bloomberg Wells Fargo & Co. will withhold 2016 cash bonuses from eight senior executives and claw back compensation received in 2014 as the board holds managers accountable for the company’s bogus-account scandal. The actions cut a total of about $32 million in pay and equity awards from managers including Chief Executive Officer Tim Sloan and Chief Financial Officer John ...

  Bloomberg Bank of Baroda’s South African unit has started closing accounts of companies controlled by the Gupta family, according to three people familiar with the matter, potentially leaving the friends of President Jacob Zuma without banking facilities in the country. The Mumbai-based lender is winding down its relationship with companies related to the Gupta family to ensure it is ...

  Bloomberg Scandinavia’s biggest bank is in talks with the Swedish government to stop it raising industry payments towards a national reserve intended to shield the country from the next financial crisis. Nordea Bank AB is trying to make the case that the government’s proposal poses ‘a risk,’ in part because the fees paid by lenders will go into the ...