BLOOMBERG Bank of America Corp (BofA) is trimming its wealth-management, banking and lending group as higher interest rates continue to crimp business on Wall Street, forcing banks to make broader cuts. Fewer than 200 staffers were offered different roles in other parts of the company while a handful, including some loan officers, were let go, according to people with knowledge ...

BLOOMBERG Deutsche Bank AG is settling a US lawsuit it filed against a pair of offshore feeder funds that backed out of an alleged deal to sell the German lender $1.6 billion in claims against Bernard Madoff’s bankrupt investment advisory business. Lawyers for Deutsche Bank and the funds — Kingate Global Fund Ltd and Kingate Euro Fund Ltd — filed ...

BLOOMBERG The Bangko Sentral ng Pilipinas (BSP) has done enough to address inflation and could pause from raising interest rates at the next policy meeting in May, Finance Secretary Benjamin Diokno said. “Contrary to some analysts’ view that the BSP’s Monetary Board could even push its policy interest rate higher than 6.5%, I think that the BSP is leaning towards ...