Bloomberg HSBC Holdings Plc has hired Michael Willoughby, a top mining banker at Standard Chartered Plc, to help build its global resources team, people with knowledge of the matter said. Willoughby, a Singapore-based managing director and co-head of metals and mining for Asia Pacific at Standard Chartered, will join HSBC in August as global head of metals, mining and …

  Bloomberg China’s largest state-owned banks reported profit growth of at least 5% in the first quarter, fuelled by increased lending and improved asset quality before a Covid-19 outbreak triggered broad lockdowns and pummeled the economy. Industrial & Commercial Bank of China Ltd (ICBC) said net income rose 5.7% to 90.63 billion yuan ($13.8 billion) in three months ended March …

  Bloomberg The US consumer watchdog is ordering Bank of America Corp (BofA) to pay a $10 million penalty and repay fees that the lender charged customers when garnishing wages. The Consumer Financial Protection Bureau (CFB) said that the Charlotte, North Carolina-based lender incorrectly froze accounts and garnished customer funds based on out-of-state court orders. The lender should have ensured …