Bloomberg UBS Group AG is consolidating its wealth management business in Europe and emerging markets to streamline operations, expanding the role of top executives in much of the region. Cross-border operations will be combined with domestic businesses in a set-up that will reduce the number of offshore booking centers from about 10 to three — Switzerland, Germany, and the UK. …

Bloomberg Ten years since the Bank of England (BOE) last raised interest rates, policy makers are warning Britons to prepare for the next one. “Our foot is pretty much on the floor with the accelerator,” Michael Saunders, a member of the rate-setting Monetary Policy Committee, told The Guardian in an interview published late on Tuesday. “Households should prepare for interest …

Bloomberg Italians may be about to experience something they haven’t felt in some time: confidence in their country’s financial system. European Union officials capped years of turmoil in Italy’s banking industry by approving a plan to salvage Banca Monte dei Paschi di Siena SpA, a onetime pillar of the financial establishment brought to the edge of ruin by bad loans …