Bloomberg India kicks off its fiscal year with revenues under severe strain. A prolonged slowdown in the economy depressed tax collections in the financial year that ended on April 1, latest official data show. As India now conducts the world’s biggest lockdown, budget pressures are set to worsen. Finance Minister Nirmala Sitharaman has already outlined a virus relief package of ...

Bloomberg The British banking regulator pressed firms including HSBC Holdings Plc to scrap dividends and cash payouts for its top staff as the coronavirus pandemic upends the industry. HSBC and Standard Chartered Plc shares tumbled after they and Royal Bank of Scotland Group Plc, Barclays Plc and Lloyds Banking Group Plc canceled outstanding dividends and buybacks and said there would ...

Bloomberg European banks are likely to see 120 billion euros ($131 billion) in potential profit disappear over the next three years as the spreading coronavirus upends clients and economies, according to Goldman Sachs Group Inc. Goldman Sachs analysts led by Jernej Omahen shredded their profit forecasts for the sector through 2023 by 27%, four times the 30-billion euro hit to ...