Bloomberg UniCredit SpA’s Jean Pierre Mustier pulled out of the race to become chief executive officer of HSBC Holdings Plc, a rejection that adds to uncertainty at the top of Europe’s largest lender and extends the search for a new boss into its seventh month. Mustier, who led a turnaround at the Milan-based bank over the last four years, plans …

Bloomberg China’s banking regulator is considering setting up new regional bad-debt managers to help clean up risks after the failure of thousands of peer-to-peer lending platforms, according to people with knowledge of the matter. Companies in Shanghai, Zhejiang and Shenzhen have submitted applications to set up local asset managers dealing with bad loans, especially those from online lending platforms, said …

Bloomberg China’s overall credit growth surged in January, before the extended Lunar New Year holiday due to the coronavirus outbreak curtailed economic activity across much of the country. Aggregate financing increased 5.07 trillion yuan ($723 billion) last month, the highest since the current data series started in 2017. The median estimate was 4.2 trillion yuan. The stock of outstanding aggregate …