Bloomberg People’s Bank of China (PBOC) Governor Zhou Xiaochuan said China should forge ahead to further open the financial services industry, in a signal the country may allow foreign firms greater access to the market. Protecting domestic firms from outside competition makes them lazy, which weakens them and may lead to financial instability, Zhou said on Tuesday at the Lujiazui ...

Bloomberg Bank and insurance shares jumped in Saudi Arabia hours before the country learns whether it may begin the formal process to become classified as an emerging market by MSCI Inc., a development that might boost its stock market for months. The banking sector of the Tadawul All Share index leaped 4 percent and closed at the highest level this ...

Bloomberg Goldman Sachs Group Inc. is shifting personnel away from London as formal negotiations on the U.K.’s exit from the European Union which began on Monday, according to the bank’s regional head, Richard Gnodde. “We started to shift resources to Frankfurt and other European cities,” Gnodde told Frankfurter Allgemeine Zeitung in an interview. Goldman Sachs will “very probably” at least ...