Bloomberg The European Central Bank’s vice president warned asset managers that they’ll face tighter scrutiny as regulators try to steer against future financial crises. The ECB has grown increasingly vocal about the risks stemming from a rapid expansion of entities such as investment funds, which are taking on more bank-like tasks such as providing liquidity but which are regulated more ...

Bloomberg Some Chinese banks are struggling to comply with unprecedented regulatory targets for credit to private companies because they aren’t sure who to lend to, a sign that authorities’ urgency to reverse an economic slowdown is muddying policy. The confusion stems from China Banking and Insurance Regulatory Commission chief Guo Shuqing’s statement that at least a third of new loans ...

Bloomberg Steve Ashley, charged with turning around a slump at Nomura Holdings Inc.’s investment bank, faces one of his biggest challenges thousands of miles away from Japan. Britain’s exit from the European Union threatens to create “two centers” for financial products on the continent, Ashley, head of wholesale and global markets at Nomura, said on Monday in an interview with ...

Bloomberg Wells Fargo & Co has fired two community-lending and investment employees in connection with a US probe into the bank’s negotiation and procurement of low-income housing tax credits, according to people familiar with the matter. Rick Davis, a senior vice president, and Bob Klixbull, a vice president, were fired after being suspended earlier this year, the people said. The ...

Bloomberg Jet Airways India Ltd. saw both current- and non-current liabilities surge in the second quarter, after intense competition and low fares led to its third consecutive quarterly loss. Current liabilities rose to 160 billion rupees ($2.2 billion) as of September 30, compared with 142 billion rupees as of March 31, while non-current liabilities jumped 30 percent during the same ...

Bloomberg South African Airways could sell shares to public as the state-owned carrier seeks ways to end years of losses and reduce the need for bailouts, according to people familiar with the matter. The move would enable the government to cut its stake in much the same way as it did with former phone monopoly Telkom SA SOC Ltd. almost ...

Bloomberg Richemont slumped after the Swiss luxury-goods maker signaled that the recent boom in China is over and warned that a trade war could dent demand for Cartier necklaces and Piaget watches. The stock fell as much as 5.4 percent in early trading. Richemont reported an unexpected decline in first-half operating profit amid M&A-related costs and as the company sold ...

Bloomberg UK lawmakers have written to the heads of online retailers including Amazon.com Inc. and Asos Plc to seek evidence about the environmental and social impacts of selling cheap clothes. The letter to the head of Amazon in the UK was prompted by evidence given to a panel of British politicians that heard the demand for affordable garments online is ...

Bloomberg Police have cleared a suspicious package found at Fort Lauderdale–Hollywood International Airport in Florida, the Broward county Sheriff’s Office said. A bomb squad was earlier investigating the report of a suspicious package at terminal four of the airport, police said. Roads leading into the airport had been closed due to the police activity, the airport said. The airport is ...

Bloomberg Ruyi Holding Group, the Chinese apparel firm that’s taking over Bally International AG, will slow its dealmaking after announcing more than $4 billion of overseas acquisitions in the past three years. The company will focus on integrating existing brands and ease its M&A pace in the short to medium term, chairman Qiu Yafu said in an interview in Hong ...