Bloomberg Bank of England Governor Mark Carney said tough oversight of bankers and threats of jail aren’t enough to prevent talent from joining the industry. Carney was discussing the UK’s Senior Managers’ Regime, a response to the “relatively limited consequences” for senior bankers in the wake of the financial crisis. It works on the basis that ignorance is no defense, ...

Bloomberg Federal Reserve Chairman Jerome Powell has some further explaining to do after the central bank’s monetary messages whipsawed financial markets over the last month. Powell holds a press conference at 2:30 pm on Wednesday in Washington following a two-day meeting of the Federal Open Market Committee. Investors expect the FOMC to keep interest rates on hold. Its policy statement ...

Bloomberg Europe’s retail crisis deepened as companies in the UK and Germany are poised to cut thousands of jobs as online shopping accelerates the erosion of sales from traditional bricks-and-mortar stores. Tesco Plc, the biggest UK grocer, will eliminate about 15,000 positions and close meat, fish and delicatessen counters, the Mail reported, citing unidentified industry sources. Galeria Kaufhof, which has ...