Bloomberg Kotak Mahindra Bank, backed by Asia’s richest banker, is exploring a takeover of smaller Indian rival IndusInd Bank, people with knowledge of the matter said, a move that would create the nation’s eighth-largest financial firm by assets. Uday Kotak, founder and chief executive officer of Kotak Mahindra, is looking at the possibility of an all-stock acquisition, one of the …

Bloomberg UBS Group AG plans to raise the fixed salaries for some of its more senior employees by as much as 20% to prevent poaching by competitors. A review at Switzerland’s largest bank found differences in base pay among employees in the same roles, and when compared with competitors, people familiar with the plans said. As a result, UBS plans …

Bloomberg European stocks and the US futures dropped as coronavirus infections continued to climb and investors doubted that Washington lawmakers will reach an economic stimulus package anytime soon. German software maker SAP SE plunged 20% after cutting its revenue forecast, saying that pandemic will continue to hurt business. Investors sought protection in haven assets. Treasuries rise, sending yields on the …