Bloomberg Metro Bank Plc handed its interim chief executive officer (CEO) the reins, months after the struggling lender’s previous boss resigned in the wake of an accounting scandal. Dan Frumkin, who has led the bank on an interim basis since the start of the year, takes over the London-based lender’s permanent role with immediate effect. Frumkin, 55, joined the business …

Bloomberg UBS Group AG hired private-wealth advisers who oversaw $6 billion in assets for Goldman Sachs Group Inc. The team, headed by Denis Cleary and Gregory Devine, has clients in more than 25 US states and will maintain offices in Boston and Los Angeles, UBS said in a statement. “Known for being one of the largest teams in the country …

Bloomberg Japan’s Mitsubishi UFJ Financial Group Inc is investing more than $700 million in Southeast Asian ride-hailing giant Grab, gaining access to millions across the region that use the mobile app to book cars and meals. The Japanese financial institution intends to market a range of financial services from insurance to loans to Grab’s millions of users, said a person …

Bloomberg Consumer price inflation in Canada ticked up in January, while the average of the central bank’s core measures slowed down. The overall Consumer Price Index (CPI) was up 2.4% from a year earlier, after a 2.2% gain in December. That beat economist expectations for 2.3% increase. Excluding gasoline, inflation rose 2% in January. On a monthly basis, inflation rose …

Bloomberg Singapore’s currency may tumble to the lowest level since 2017 if the central bank responds as strongly to the spread of the coronavirus as it did to the Sars epidemic two decades ago. That’s the view of Tan Teck Leng, a macro strategist at UBS Group AG’s Global Wealth Management Chief Investment Office, who thinks the Monetary Authority of …

Bloomberg Reliance Industries Ltd.’s talks to sell a minority stake in its oil-to-chemical division to Saudi Aramco have been gathering pace in recent weeks, according to reports. Aramco officials and bankers on the deal have been working at Reliance’s offices in Mumbai for due diligence this month, according to the people, who asked not to be identified as the information …

Bloomberg Oil fell, snapping a five-day rally, amid renewed fears over the impact on the global economy and fuel demand from Asia’s deadly coronavirus. Brent futures fell 2.3% to trade near $56 a barrel in London, slipping with equity markets as Apple Inc. warned it will fail to meet sales targets this quarter because of disruption from the virus. Chinese …

Bloomberg Vestas Wind Systems A/S lost market share last year in the wind turbine industry it has dominated for more than a decade. While the Danish manufacturer remains the biggest producer of the machines that generate electricity from the wind, General Electric Co of the US and Siemens Gamesa Renewable Energy SA of Spain gained share in the market for …

Bloomberg Federal regulators are set to make a decision on New York’s power market that could disrupt the state’s plans to reach its climate goals. The US Federal Energy Regulatory Commission (FERC) has scheduled a meeting for Thursday to rule on a case filed by some generators who said the state’s policies were unfair because only clean-power producers received subsidies. …

Bloomberg A plunge in prices is shaking some of the more marginal players out of the liquefied natural gas (LNG) market, chilling what until recently was the hottest part of the energy industry. Major utilities from Orsted in Denmark to Iberdrola in Spain are exiting the business. Naturgy Energy has made no secret it isn’t comfortable with the volatility of …