London / Bloomberg British bank Barclays on Tuesday said net losses more than doubled last year and announced plans to gradually reduce its majority stake in the group’s African unit. Barclays also said it would split the company overall into two units, Barclays UK and Barclays Corporate and International, as it undergoes major restructuring under new chief chief executive Jes ...

Kuala Lumpur / Bloomberg Giles Ong, Malayan Banking Bhd.’s head of Asia investment banking, is leaving after building the advisory business beyond the lender’s home market during his four-year tenure. Ong, 46, tendered his resignation last week, according to an e-mail he sent to colleagues that was obtained by Bloomberg News. In a telephone interview Tuesday, he confirmed the contents ...

London / Bloomberg The Bank of England (BOE) defied European Union regulators by retaining a bonus-cap exemption for smaller UK financial firms, as the bloc’s policy makers reassess remuneration rules that have been repeatedly blasted by British regulators. The BOE and the Financial Conduct Authority (FCA) said that they will comply with all EU remuneration rules apart from applying the ...