Bloomberg Singapore’s regulator fined UBS Group AG S$11.2 million ($8.2 million) for misconduct by its advisers that included overcharging clients for trades. UBS’s advisers engaged in acts that deceived or were likely to deceive clients about the spreads and prices on bond and structured product transactions, the Monetary Authority of Singapore (MAS) said. “The conduct of UBS through its representatives …

Bloomberg A headwind for the global equity rally is showing signs of reversing, and that could give a further boost to stocks, according to Citigroup Inc. Investors have sold a net $230 billion in shares this year amid a 20% rise in a gauge of global stocks, strategists including Robert Buckland wrote in a note. That has only happened twice …

Bloomberg India’s central bank chief Shaktikanta Das called for stronger corporate governance at state-run lenders to make the country’s banking sector more efficient. Describing the lack of strict governance as the “elephant in the room,” Das said this had led to elevated levels of non-performing assets (NPA), capital shortfalls, fraud and inadequate risk management. “The role of independent boards in …

Bloomberg Bundesbank president Jens Weidmann painted a positive picture of Germany’s economic prospects, arguing that growth momentum will pick up in the medium term while highlighting the need for structural investment. Europe’s largest economy is operating close to full capacity, with some sectors such as construction showing signs of overheating, Weidmann told an audience of young people in Frankfurt. He …

Bloomberg Goldman Sachs Group Inc agreed to pay $20 million to settle an investor lawsuit accusing traders at the bank, along with 15 other financial institutions, of rigging prices for bonds issued by Fannie Mae and Freddie Mac. As part of the settlement, disclosed in a court filing, Goldman Sachs will cooperate with investors in their case against the other …

Bloomberg Ron Sim, founder of one of Asia’s largest massage chair makers, is in talks to partner with a unit of Temasek Holdings Pte and other firms to bid for one of Singapore’s new virtual banking licenses, according to people familiar with the matter. V3 Group Ltd, Sim’s Singapore-based firm, is discussing forming a consortium with Temasek’s Heliconia Capital Management …

Bloomberg Motorola is rebooting the iconic Razr flip phone as a 6.2-inch smartphone with a foldable display that gives the Lenovo-owned brand a unique selling point against Apple Inc and Samsung Electronics Co’s finest. The new device reprises the Motorola Razr name and looks like a modernised version of the original. It costs $1,499 and will be available for pre-order …

Bloomberg Apple Inc introduced its first major update to the MacBook Pro laptop in three years, adding a slightly larger screen to the top-end model, improved speakers, a better keyboard, and faster processors from Intel Corp. The new computer has a 16-inch screen, bigger than the 15.4-inch screen on the previous version. That alone may not be enough to spur …

Bloomberg Vietnam will inspect all phones imported from China, such as Huawei and Xiaomi models, the Tuoi Tre newspaper reports citing Nguyen Hung Anh, head of Vietnam Customs’ anti-smuggling and investigation department. At issue is whether the Chinese-made phones come with preinstalled navigation apps that use maps reflecting Chinese territorial claims rejected by Hanoi, such as the expansive nine-dash line …

Bloomberg Burberry Group Plc is teaming up with Chinese internet giant Tencent Holdings Ltd to experiment with blending retail and social media in the key luxury market. The first step in the Tencent alliance will be a Burberry store in Shenzhen powered by the operator of social network WeChat. The space will offer “unique experiences that connect luxury customers’ social …