Bloomberg A European Union bad bank would go a long way toward reducing the 1.2 trillion-euro ($1.3 trillion) mountain of soured loans on lenders’ books, but that relief may be a long time coming, according to the bloc’s bank regulator. Andrea Enria, chairman of the European Banking Authority (EBA), proposed setting up a bloc-wide asset-management company to take over …

  Bloomberg Jim McCaughan, who oversees more than $390 billion at Principal Global Investors, cautioned against betting on European stocks, even after they trailed US equities for years. “I see this as a value trap,” McCaughan said in an interview on Bloomberg Television. “I don’t see where the growth is coming from in Europe, and I see lots of risk. …

  Bloomberg South Africa’s antitrust investigators urged that a dozen banks be fined for colluding and manipulating trades in the rand, becoming potentially the latest in a string of penalties handed to lenders around the world for rigging currencies. The Competition Commission identified lenders including Bank of America Merrill Lynch, HSBC Holdings Plc, BNP Paribas SA, Credit Suisse Group AG, …