Bloomberg Sam Woods, a former UK Treasury official, was appointed as Deputy Governor for regulation at the Bank of England (BOE), replacing Andrew Bailey. Woods — who will continue as the central bank’s executive director of insurance until the end of June — becomes Chief Executive of the Prudential Regulation Authority, the UK’s main banking supervisor, the Treasury in London ...

Bloomberg Negative interest rates, one of the latest central bank experiments to goad economies back into growth, got low marks at a financial and economic conference along Lake Como. Richard Koo, the chief economist at Nomura Research Institute, said such rates were “intellectually bankrupt.” Olivier Blanchard, the former chief economist at the International Monetary Fund in Washington, said they interfere ...

Reuters Higher sales helped Saudi Arabia’s Almarai to post a marginal rise in first-quarter net profit on Sunday, though the Gulf’s largest dairy company warned of challenging market conditions in the face of the region’s economic slowdown. Saudi companies are grappling with a protracted slump in oil prices that is putting government and consumer spending under pressure. One indicator of ...