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Yuan rate increases as banks hoard cash

  Bloomberg China’s money-market rate jumped by the most in almost three months as injections of funds by the central bank were overwhelmed by quarter-end demand. The 14-day repurchase rate, a gauge of interbank funding availability, climbed 13 basis points to 2.92 percent. in Shanghai, the most since March 31, according to National Interbank Funding Center prices. The benchmark seven-day ...

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Banking’s disrupters face upheaval of their own in Brexit vote

  Bloomberg Entrepreneurs who’ve flocked to London in recent years to upend the financial world with technology are dreading one potential disruption they can’t control: Britain leaving the European Union. A decision to quit the 28-nation bloc in Thursday’s referendum would threaten trade and regulatory benefits that have made London a hub for financial startups, as well as a center ...

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Scotiabank to join with Kabbage for online small-business loans

  Bloomberg Bank of Nova Scotia, Canada’s third-largest lender by assets, is collaborating with financial technology firm Kabbage Inc to offer loans online to small businesses. The program will be available in Canada starting next month and in Mexico later this year, Atlanta-based Kabbage said that didn’t include terms. Business customers can apply for loans through Scotiabank’s website in the ...

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