Bloomberg One of Sweden’s main financial-worker unions says the job cuts announced in October by Nordea Bank AB are just the beginning of a transformation that’s about to hit the whole industry as more financial firms come to rely on digital solutions. The Nordic region’s biggest bank has yet to reveal to its staff who exactly will be affected by ...

Bloomberg If you can’t beat ‘em, join ‘em. That’s the calculation Australia’s biggest banks and the government have made in deciding to cave in to pressure for a public inquiry into alleged misconduct in the financial industry. After months of denouncing the idea of a Royal Commission as an expensive waste of time, the big four banks staged a backflip ...

Bloomberg A second daily surge in Europe’s overnight benchmark rate, which banks use to provide loans to one another, sparked widespread speculation among traders about the trigger, though there were no signs of wider funding stress. Some traders attributed the jump in the Eonia rate to possible year-end funding squeeze at some lenders, while others pinned it down to demand ...