Bloomberg Government companies in South Africa that have had billions of rand looted through a process known as state capture shouldn’t be bailed out by the central bank even as they pose a significant fiscal risk, Governor Lesetja Kganyago said. “The challenge of dealing with too-big-to-fail SOEs, of combining cash injections with conditionality measures, needs to be dealt with by ...

Bloomberg UniCredit SpA ended one its most significant legal disputes by settling a US probe over sanctions violations, clearing the path for the lender to focus on growing its business after years of cleaning up legacy issues. The bank agreed to pay $1.3 billion to settle US charges for violating sanctions against Iran that have been hanging over UniCredit since ...

Bloomberg UBS Group AG topped the list of the 20 largest wealth firms in Asia for the sixth consecutive year even as assets under management declined in the region, Asian Private Banker said. While the Zurich-based bank continued to dominate the regional top spot by a wide margin, with assets totaling $357 billion last year, Credit Suisse Group AG slightly ...