Bloomberg International politics are looming large over the race among global investment banks to secure coveted permits for taking majority stakes in Chinese securities joint ventures. Switzerland’s UBS Group AG and Nomura Holdings Inc. of Japan in the past week became the first to apply for permission to buy 51 percent stakes in local securities JVs. Both banks acted after ...

Bloomberg Deutsche Bank AG is considering a sweeping restructuring in the US that could result in the firm cutting about 20 percent of staff in the region, according to people briefed on the matter. The bank is nearing a decision and the final reductions may end up lower, one of the people said, asking not to be identified because the ...

Bloomberg The Irish state received a payment outstripping last year’s 1.8 billion euros ($2.1 billion) from the country’s Central Bank, according to a person familiar with the matter. The payment flowed from the Central Bank’s earnings for 2017, said the person who asked not to be named as the information is private. Details of the latest payment will be published ...