Bloomberg India’s new central bank Governor Urjit Patel is facing fires on multiple fronts as he prepares for next week’s monetary policy review. A cash shortage triggered by Prime Minister Narendra Modi’s decision to void 86 percent of currency in circulation and an accompanying surge in banking liquidity as Indians deposit their worthless bank notes threatens one of the …

  Bloomberg Australia & New Zealand Banking Group Ltd. has axed its traditional A$1,000 ($746) share bonus for staff this year, citing the need to cut expenses. In an intranet post seen by Bloomberg News, management told employees that 2016 had been a “challenging year” and that in an “environment of lower growth and lower returns, ANZ needs to reduce …

  London / AFP A petition calling for the Bank of England (BoE) to remove a new banknote from circulation had on Tuesday received more than 70,000 signatures, with critics angry it is produced with animal product. The polymer £5 notes ($6.2, 5.9 euros) were unveiled in September, with the Bank of England extolling the new banknotes for being waterproof …