Bloomberg The Bank of England is holding off from forcing most European banks operating in the UK to become subsidiaries, but says it’s ready to get tougher if progress towards a Brexit deal breaks down. Governor Mark Carney told lawmakers in London that making lenders and insurers go through the process of setting up subsidiaries, only to then reverse course ...

Bloomberg ANZ Bank New Zealand said the country’s Overseas Investment Office has declined the application of China’s HNA Group to acquire UDC Finance. “While the sale agreement between the parties remains in place, unless HNA successfully overturns the OIO decision, the sale will not proceed,” ANZ New Zealand Chief Executive David Hisco said in a statement. “We don’t know if ...

Bloomberg Bank of America Corp. Chief Executive Officer Brian Moynihan said the lender is pushing to deepen some of the busin-ess it conducts in China as the world’s No. 2 economy opens further to foreign investment. The US bank is working towards “local incorporation” in China so that it can more easily help firms there sell debt, Moynihan said in ...