Bloomberg Shares of One 97 Communications Ltd., the parent of India’s leading digital payments brand Paytm, plunged to a record low on Tuesday after Macquarie Group Ltd. analysts flagged risks from billionaire Mukesh Ambani’s foray into the financial services business. Reliance Industries Ltd.’s Jio Financial Services Ltd. “can pose a significant growth and market-share risk” for players such as ...

  Bloomberg The Singapore police is investigating Binance.com over a possible breach of local payment services rules. “Police investigations are ongoing and we are unable to comment further,” according to a statement from the police in response to queries from Bloomberg News. The probe started when the nation’s financial regulator referred the case to the white-collar crime unit of the ...

  Bloomberg The world’s central banks must keep raising interest rates to fight soaring and pervasive inflation, even as the global economy sinks into a significant slowdown, the Organisation for Economic Co-operation and Development (OECD) said on Tuesday. The unexpected surge in prices and its impact on real incomes is hurting people everywhere, creating problems that will only worsen if ...

  Bloomberg Australia & New Zealand Banking Group Ltd (ANZ) plans to withdraw from Myanmar by next year citing increasing “operational complexity”, underscoring how global companies are turning cautious on the country after a 2021 military coup. The move to cease operations in Myanmar is subject to local regulatory approval and the lender has been “working with its Institutional customers ...

Bloomberg Private equity firms and pension funds will soon face a reckoning as they adjust their private holdings to reflect lower valuations, according to the chief investment officer of BMO Global Asset Management. There’s “going to be a big markdown,” Sadiq Adatia said in an interview. “That might be worse than getting that pain gradually over the year.” Stocks are ...

  Bloomberg The European Central Bank (ECB) will continue to increase borrowing costs, according to Governing Council member Robert Holzmann. “We’ve recently raised interest rates strongly,” he said in Vienna. “We will raise interest rates further.” Still, the Austrian central bank chief — among the ECB’s most hawkish officials — said the Governing Council must be mindful of too strong ...

  Bloomberg The cost of a five-year fixed-rate mortgage has fallen below 6% for the first time in almost seven weeks, providing a glimmer of hope for Britons affected by the UK’s home loans crunch. The average five-year fixed-rate mortgage falls to 5.95% on Tuesday, according to Moneyfacts Group Plc. That’s the first time it has dropped below the threshold ...

  Bloomberg The resurgent Hong Kong dollar has pushed closer to the strong half of its trading band, amid a spike in local funding costs that has upended crowded bets on shorting the currency. The Hong Kong dollar saw its biggest intraday rise in three years on Monday to as high as 7.8004 per dollar, bringing its gain for November ...

  Bloomberg Bank of New York Mellon’s Frankfurt offices are being raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street’s biggest banks. The raid began on Tuesday, people familiar with the process said. A spokesman for Cologne prosecutors said searches at two unidentified banks started and included the ...

  Bloomberg The world’s biggest stock-market slump is testing the resolve of Vietnam’s investing masses. A government crackdown on real estate companies, corruption probes and tightening credit have pushed the benchmark VN Index down 36% this year in the world’s worst performance, led by banks and property firms. While some foreign investors see a buying opportunity, the crisis is punishing ...