Bloomberg Australia & New Zealand Banking Group Ltd. (ANZ) told a US court that its commodities trading arm suffered ‘substantial losses’ after it discovered that receipts for metal held in Glencore Plc’s Access World warehouses are probably fake. When ANZ looked into selling the nickel, it discovered 83 out of 84 receipts it held were likely forgeries, the Australian lender …

Bloomberg As Italian taxpayers contemplate the $19 billion bill to clean up two failed Veneto banks, Intesa Sanpaolo SpA shareholders cheered. The nation’s second-largest bank is taking over the good assets of Banca Popolare di Vicenza SpA and Veneto Banca SpA for 1 euro and will also receive 5.2 billion euros ($5.83 billion) from the state to maintain its capital …

Bloomberg Mozambique’s smaller banks should combine in an effort to overcome the blow dealt by government debt defaults after four lenders failed over nine months. The country’s debt crisis threatens to unravel efforts by the central bank to strengthen the nation’s financial system through the introduction of new capital and liquidity rules. Central bank Governor Rogerio Zandamela said last week …