Bloomberg Banca Monte dei Paschi di Siena SpA starts to swap 4.3 billion euros ($4.6 billion) subordinated bonds for equity on Monday, in the first crucial stage of the Italian bank’s turnaround plans. Bondholders will have five days from November 28 to sign up for the exchange, a step which will allow the bank to proceed with a share sale ...

  Bloomberg Ajay Kanwal, the head of Standard Chartered Plc’s Asean and South Asian operations, left the bank after failing to disclose past personal investments. Kanwal said some of his disclosures about investments in businesses outside the bank didn’t meet the company’s “very high standards,” according to a statement from the lender on Monday. “Though I do not own these ...

  Bloomberg The Bank of Japan had its first loss since Haruhiko Kuroda became governor after the value of foreign currency assets fell, it wrote down bond holdings and set aside more money to cover potential future losses on its holdings of government debt. The bank posted a net loss of 200.2 billion yen ($1.8 billion) in the six months ...