Bloomberg The conflict between Poland and the European Union over democratic principles escalated overnight as the bloc’s highest official in Warsaw was summoned to the Foreign Ministry. Following an “unacceptable comment” by EU Commission spokesman Christian Wigand, the head of the commission’s office in the country was summoned to a meeting at the Polish Foreign Ministry, Deputy Foreign Minister Pawel ...

Bloomberg European Central Bank (ECB) president Christine Lagarde warned investors not to assume that current monetary policy is locked in for the foreseeable future just because officials are focused on reviewing their strategy. “To those who think it’s on autopilot, that’s ridiculous,” she said in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland. “Let’s look at ...

Bloomberg American Express Co has high hopes for 2020, predicting earnings that surpassed many analysts’ expectations and prospects for “more rational” competition from its biggest rivals. After sweetening the bonuses on some of its most popular products, including the Green card, AmEx said overall rewards costs climbed 8% to $2.72 billion during the fourth quarter. That was less than the ...

Bloomberg Nigeria turned the screws even tighter on lenders by increasing the amount of money they need to park with the central bank for the first time in almost four years in an effort to tame inflation. The West African nation’s central bank raised the cash-reserve requirement for lenders to 27.5% of total deposits, from 22.5%, to curtail excess liquidity ...

Bloomberg Deutsche Bank AG and a Singapore based hedge fund bought more debt of an embattled Indian shadow lender, highlighting the growing foreign interest in the discounted assets of the financier at the center of a credit crisis. Deutsche Bank has almost doubled the debt it holds of Altico Capital India Ltd to 3 billion rupees ($42.1 million) in the ...

Bloomberg A rift among the global elite over the future of digital payments was on display during a panel discussion at the World Economic Forum’s annual meeting in Davos, Switzerland. At stake is the potential overhaul of the global financial system that could see companies like Facebook Inc pitted against the world’s central banks in the race to develop a ...

Bloomberg A Swiss bank’s former chief executive officer has been sanctioned by the country’s financial regulator for insider trading in his wife’s name and what Finma called other “serious breaches of supervisory law.” The man executed the trades using his wife’s account at other lenders for several years, violating his bank’s internal directives, Finma said. The identities of the bank ...

Bloomberg The Japanese telecom business of Masayoshi Son’s technology conglomerate mandated banks for its first domestic bond sale since listing in 2018, people familar with the matter said. SoftBank Corp will seek to price yen-denominated bonds before March 31, Japan’s fiscal year end, according to the people, who asked not to be identified because the matter is private. The company ...

Bloomberg China has ordered all travel agencies to suspend sales of domestic and international tours as part of an effort to contain the spread of a novel coronavirus that has killed 25 and sickened hundreds. The Ministry of Culture and Tourism ordered travel agencies and tourism companies to stop selling tour packages beginning from January 24, according to a document ...

Bloomberg The year is starting off much like the last one ended for the Shetty family. The billionaire clan behind financial services firm Finablr Plc and hospital operator NMC Health Plc has seen its fortune drop more than $1.5 billion since it came under fire in December from short seller Carson Block. The latest blow came after a filing revealed ...