Bloomberg Deutsche Bank AG’s new chief executive officer, Christian Sewing, suffered a fresh setback in his efforts to reinvigorate Europe’s largest investment bank as S&P Global Ratings cut the lender’s credit rating. S&P reduced the rating by one notch to BBB+, the third-lowest investment grade, citing “significant execution risk” after several management changes and strategy updates in past years. Shares …

Bloomberg The UK markets regulator began toughening rules on banks’ 2.3 billion-pound ($3 billion) overdraft business, while leaving more “radical options” for later. Lenders would need to make overdraft fees clearer and alert customers to potential charges under proposals the Financial Conduct Authority. The London-based regulator said it will now consider stiffer measures such as banning fixed fees and tackling …

Bloomberg The new man who would step into Mario Draghi’s shoes in an emergency has just taken office. Former Spanish Finance Minister Luis de Guindos started his job as European Central Bank vice president. He replaces Vitor Constancio on the same day that the Frankfurt-based institution celebrates its 20th anniversary, in troubled times. Guindos might find himself in a position …