Bloomberg Australia should follow India’s lead and scrap its biggest bank notes, UBS Group AG said. “Removing large denomination notes in Australia would be good for the economy and good for the banks,” UBS analysts led by Jonathan Mott said in a note to clients on Monday. Benefits would include reduced crime and welfare fraud, increased tax revenue and ...

  Bloomberg Making money from lending remains a tough task for Japan’s biggest banks. Profit at Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. probably fell about 20 percent last quarter as negative interest rates pressured loan income at home and the stronger yen dented earnings abroad, according to analysts surveyed before results due Monday. Sumitomo Mitsui Financial ...

Bloomberg Australian policy makers were publicly frustrated by the currency’s stubborn strength when commodities tumbled earlier this decade. Now they’re conspicuously quiet as it fails to keep pace with resurgent resource prices. Since the end of June, JPMorgan Chase & Co.’s real effective exchange rate for the Aussie has risen 4 percent, while Westpac Banking Corp.’s Australian export commodity index ...