Bloomberg Indian banks received 2 trillion rupees ($29.8 billion) of cash after the government’s November 8 surprise move to abolish high-denomination banknotes, as customers queued for hours to deposit or exchange the old bills and ATMs ran dry. With the banned bills accounting for 86 percent of money out of circulation, there is tremendous pressure on the nation’s banking ...

  Bloomberg MetLife Inc., the largest US life insurer, said third-quarter profit tumbled 52 percent on derivative losses and costs tied to the spinoff of a US retail business as Chief Executive Officer Steve Kandarian reorganizes the company. Net income slipped to $571 million from $1.2 billion a year earlier, New York-based MetLife said in a statement. Profit excluding some ...

  Bloomberg China International Capital Corp., the investment bank ex-Premier Zhu Rongji set up two decades ago to help restructure the Chinese economy, is again taking on a role that fits with the government’s agenda. CICC’s $2.5 billion acquisition of China Investment Securities Corp. will plunge the firm into the retail investor market, a segment it had long shunned because ...