Bloomberg A consortium led by Goldman Sachs Group Inc and Varde Partners LP will buy 65.75 billion rupees ($922 million) of debt from an Indian power company at a 38% discount, in one of the largest restructuring deals outside the nation’s bankruptcy court. Creditors of RattanIndia Power Ltd will sell the debt via an asset reconstruction company controlled by the …

Bloomberg The Federal Reserve may have succeeded in thwarting major year-end turmoil in funding markets, but 2020 is likely to bring a whole new set of concerns. The US central bank has been injecting liquidity into markets through repurchase-agreement operations since mid-September in a bid to keep control of short-end rates. Earlier this month the Fed ramped up its offerings …

Bloomberg European Central Bank (ECB) President Christine Lagarde’s promise to learn German has prompted some suggestions on what her first important word should be — including from a German colleague. In response to an informal Twitter poll, incoming Executive Board member Isabel Schnabel suggested Lagarde should start with “Vertrauen,” or “trust.” Schnabel didn’t elaborate on her word choice in the …