Bloomberg A shock decision by Indian exchanges to cut ties with their offshore counterparts sent shares of Singapore Exchange Ltd. falling by the most in nine years and raised questions about how the world’s second-most populous nation will fit in with the global financial system. The National Stock Exchange of India Ltd., together with other Indian markets, said that they ...

Bloomberg India’s regulator unearthed about $3.6 billion of bad loans in the books of the country’s biggest bank, amplifying questions about distress in the financial sector given underreporting by some rivals as well. State Bank of India said an audit by the central bank showed soured debt was about 232 billion rupees ($3.6 billion) higher than what the state-run lender ...

Bloomberg Just 8 percent of cybersecurity heads at US financial firms report to the chief executive officer directly and more should do so to help facilitate decision-making, according to the Financial Services Information Sharing & Analysis Center. The industry group’s first-ever survey on the topic showed that 39 percent of chief information security officers report directly to the chief information ...

Bloomberg Australia’s banks, rocked by years of scandals and wrongdoing, risk having further misconduct exposed as a powerful government-appointed inquiry into the nation’s financial industry starts. The yearlong Royal Commission will examine the nation’s banks, insurers, financial services providers and pension funds, and consider whether regulators have enough power to tackle misconduct. The first public hearings will focus on allegations ...

Bloomberg Banca Monte dei Paschi di Siena SpA, the state-rescued Italian bank, fell in Milan trading after it reported a fourth-quarter loss on weak revenue and restructuring costs. The shares were down 2.8 percent at 3.72 euros as of 9:55 a.m. The stock, which returned to trading on October 25 after an 10-month suspension, is now valued more than 43 ...

Bloomberg Peter Selman, hired out of retirement by Deutsche Bank AG to turn around Wall Street’s worst-hit equities business, wants to tap universities rather than rivals to do so. “We certainly have holes to fill and we’re hiring,” Selman, an ex- Goldman Sachs Group Inc. partner who joined the German lender in November, said in a phone interview. “But we’re ...

Bloomberg Airbus SE said almost a third of its Pratt & Whitney-powered A320neo aircraft are affected by a new engine glitch that has forced the European planemaker to halt some deliveries of the popular narrowbody jet. Of the 113 Pratt-powered aircraft in operation worldwide, about 30 percent are equipped with either one or two faulty engines, the planemaker said in ...

Bloomberg London City Airport, an important hub for business travelers, cancelled all flights on Monday after the discovery nearby of an unexploded World War II bomb. The ordnance was found in the River Thames during planned development work at the airport, east of the Canary Wharf financial district. Royal Navy specialists established an exclusion zone of more than 200 meters ...

Bloomberg After months of controversy last year triggered by the forcible dragging of a doctor off a flight in Chicago, airlines significantly cut down on bumping passengers. US carriers recorded the fewest number of bumped passengers in 2017 since the government began collecting data on the practice in 1995, the Department of Transportation reported. Last year there were 23,223 people ...

Bloomberg Boeing Co.’s slow-selling 737 Max 7 has a big fan in Western Canada. WestJet Airlines Ltd. next year will become the second carrier, after Southwest Airlines Co., to operate the smallest version of Boeing’s upgraded workhorse. The Calgary-based company is set to receive five of the single-aisle jetliners next year. “We love those planes,” WestJet Chief Executive Officer Gregg ...