Bloomberg Deutsche Bank AG Chief Executive Officer Christian Sewing promised a “tough” restructuring in May. What he’s likely to deliver involves culling almost a third of the top leadership and slashing the balance sheet. The supervisory board, expected to meet in Frankfurt to adopt the bank’s sweeping revamp, will probably replace three out of nine management board members and cut ...

Bloomberg Brazil’s Central Bank President Roberto Campos Neto said there is “no mechanical relationship” between congressional approval of a key pension reform bill and a cut in interest rates, in an interview with the newspaper O Estado de Sao Paulo. The comments appear to partially walk back the messaging in the central bank’s latest minutes, which suggested that the reform ...

Bloomberg India’s beleaguered state-run lender Punjab National Bank (PNB) disclosed another incident of fraud amounting to $555 million, roughly one year after it suffered through the country’s costliest banking scandal. The new case relates to the non-performing assets of insolvent Indian firm Bhushan Power & Steel Ltd, PNB said in a filing. It reported the fraud to the Reserve Bank ...