Bloomberg The bad-asset bank created when a group of Russia’s biggest private lenders collapsed sees the twin shocks of plunging oil prices and global economic pain wrought by the coronavirus pandemic as a chance to expand. “There’s every reason to believe that the amount of problem assets in 2020 will grow significantly,” Bank Trust Chief Executive Officer Mikhail Khabarov said ...

Bloomberg Norway’s sovereign wealth fund, the world’s biggest, lost a record $113 billion in the first quarter after the economic shock caused by the coronavirus pandemic triggered a sell-off in global stock markets. The loss comes at an historic moment for the fund, as it may soon need to liquidate assets for the first time to cover Norway’s emergency spending ...

Bloomberg For years, there was an allergy inside Goldman Sachs to owning a private corporate jet. Top bankers had access to rides on planes shared with others, but didn’t want to erode their less-than-stellar image on Main Street with the unnecessary extravagance of having their own. Until David Solomon took over. The bank ordered a pair of Gulfstreams late last ...