BLOOMBERG Toronto-Dominion Bank (TD Bank) and First Horizon Corp have agreed to terminate their previously announced merger amid uncertainty about the possibility of regulatory approvals. The lenders said in a statement that they “entered into a mutual agreement” to terminate their 2022 merger. TD will make a $200 million cash payment to Memphis-based First Horizon, on top of a $25 …

BLOOMBERG Australian bank margins have hit the peak and earnings are going to become harder to eke out, National Australia Bank Ltd (NAB) Chief Executive Officer (CEO) Ross McEwan warned. Speaking to Bloomberg Television after a record half-year profit failed to ease investor nerves about the bank’s outlook, McEwan said a decline in the share price was “somewhat expected.” “The …

BLOOMBERG Morgan Stanley said it’s in talks with US prosecutors and regulators to resolve a probe into its block trading practices. “The firm is currently engaged in discussions regarding potential resolution of the investigations by the enforcement division of the US Securities and Exchange Commission (SEC) and the US Attorney’s Office for the Southern District of New York into various …