Bloomberg Aruna Desai has a problem with the thousands of Indian rupees she has with her in the US — she can’t find a bank to exchange her funds and couldn’t give the money away if she tried. Since Indian Prime Minister Narendra Modi removed 500- and 1,000-rupee notes from circulation, currency exchange providers in the US have been ...

  Washington / AFP JP Morgan Chase has agreed to pay $264 million to settle a foreign bribery case dubbed the “princelings case” in which the bank gave prized jobs to friends and relatives of Chinese officials, US officials announced. The multinational bank, now the world’s largest by market capitalization, admitted to taking in more than $100 million after hiring ...

  Bloomberg A contentious reform of international bank capital standards is going down to the wire, as regulators including the U.S. Federal Reserve and the European Central Bank try to bridge a wide gap on key issues before the end of the year. At issue is the way banks measure the risk of mortgages, corporate loans and even the threat ...