Bloomberg Financing to back the potential buyout of UK grocery firm Asda Group Ltd by a private equity sponsor could total just under four billion pounds ($5 billion), according to people familiar with the information. Three bidders are still involved in the process after final bids were submitted on Monday, Apollo Global Management, Lone Star Global Acquisitions Ltd, and TDR …

Bloomberg British mortgage lenders are beginning to batten down the hatches for an oncoming spike in unemployment. HSBC Holdings Plc, Barclays Plc and Natwest Group Plc have tightened restrictions on home loans for risky borrowers as officials unwind pandemic-support efforts. Then there’s the renewed prospect of a no-deal Brexit, threatening to deepen what’s already worst recession in centuries. By moving …

Bloomberg Deutsche Boerse AG submitted an offer for exchange operator Borsa Italiana SpA, pitting it against a joint bid from Italian state-backed lender Cassa Depositi e Prestiti SpA and France’s Euronext NV. The German exchange said in a statement that it was “offering a high value for the future growth and development of an autonomous Borsa Italiana Group, thereby strengthening …

Bloomberg Citigroup Inc. is looking to keep court proceedings on track in its attempt to recover more than $900 million the bank says it accidentally transferred to Revlon Inc. lenders last month. A lawyer for the bank asked US District Judge Jesse Furman in Manhattan to deny a request by some of the lenders to postpone trial in Citigroup’s suit …

Bloomberg Danske Bank A/S said some staff, including managers, have long been aware of a number of the debt collection issues that resulted in up to 15,000 clients being overcharged. The bank, which is still being investigated separately for money laundering, said it has submitted a report to its watchdog in Copenhagen as it tries to deal with the fallout …

Bloomberg Italy is seeking “a revamp not a break up” of Monte dei Paschi di Siena SpA, Italian Finance Minister Roberto Gualtieri said. “The path to follow is a search for a strategic partner,” Gualtieri told reporters in Berlin. “We sold non-performing assets, a de-risking operation that allows Paschi to be relaunched.” The Italian state plans to dispose of its …

Bloomberg Underlying price pressures in the euro area have stabilised at a low level that isn’t in line with the European Central Bank’s (ECB) goal, according to Governing Council member Olli Rehn. While the institution’s pandemic stimulus has prevented strong deflationary trends from emerging, “the inflation outlook is a concern,” he said in a webinar. He added that core inflation …

Bloomberg India’s mid- and small-cap stocks are set to receive a boost after the regulator tweaked rules for multi-cap mutual funds, a move analysts say could push about 400 billion rupees ($5.4 billion) to the broader market. Multi-cap funds must hold at least 75% of their assets in equities — up from 65% at present — with 25% each in …

Bloomberg SoftBank Group is considering revamping a controversial strategy of using derivatives to invest in tech companies, and its executives have met with investors in recent days to assure them that the bets are relatively conservative. The Japanese conglomerate has stressed to investors that its billion-dollar positions have been concentrated in a handful of blue-chip tech companies, including Microsoft Corp. …

Bloomberg Some of the world’s biggest oil traders are gearing up for a possible resurgence of a coronavirus-induced glut of crude and fuels, snapping up giant tankers for months-long charters so that they can be ready to store excess barrels if necessary. The chartering spree is likely to alarm producers and their allies as it indicates that the oil traders …