India has a long history of drafting laws to protect its companies. In the process, Indians themselves often suffer. That’s precisely what will happen if the government proceeds with plans to force companies doing business in India to store all customer data locally. The first salvo in this campaign was fired in April, when the Reserve Bank of India (RBI) ...

Let European banks merge – in the name of the resistance. That was the unspoken message from former Deutsche Bank AG CEO Josef Ackermann, who told Bloomberg Television that US banks’ global dominance in the era of Donald Trump should stir Europe’s banks into joining forces and gaining scale. He urged regulators to help. As if on cue, more names ...

Convinced of an existential threat from competitors, America is weaponizing the dollar to preserve its global economic and geopolitical position. While the US accounts for about 20 percent of the world’s economic output, more than half of all global currency reserves and trade is in dollars. This is the result of the 1944 Bretton Woods agreement, the effect of which ...

Bloomberg The embattled Philippine peso needs a break and it may soon get one. More than 10 million overseas Filipinos are preparing to send record amounts of money home for the Christmas and New Year holidays — a period when remittances pick up — with analysts from MUFG Bank Ltd. and Standard Chartered Plc saying those funds will help ease ...

Bloomberg Tidjane Thiam is looking forward to things getting back to normal. In an interview with Swiss newspaper NZZ am Sonntag, the chief executive officer of Credit Suisse Group AG said the bank is now targeting “business as usual” after years of restructuring. “Over the past three years we worked day and night to deal with our legacy from the ...

Bloomberg After amassing 109 billion pounds ($143 billion) in assets within the belly of Investec Plc, Hendrik du Toit can now plot his own course as the money manager he founded splits from the banking group. For Investec Chief Executive Officer Stephen Koseff it is a bittersweet moment. He’s preparing to leave the company next month after 40 years of ...

Bloomberg Billionaire Jack Ma’s Ant Financial has hired a senior banker from Deutsche Bank AG to join its investment team, according to people with knowledge of the matter. Wu Xiaopin, most recently Deutsche’s head of China equity capital markets, has joined Ant as a managing director, the people said, asking not to be identified because the information is private. Wu ...

Bloomberg Australia & New Zealand Banking Group Ltd. is being sued by the securities regulator over a controversial 2015 share sale which is already the subject of criminal-cartel charges. The Australian Securities & Investments Commission alleges the lender breached continuous disclosure responsibilities by not informing the market that the joint lead managers of the sale took up approximately 25.5 million ...

Bloomberg Patricia Moraes got lots of job offers after leaving JPMorgan Chase & Co. in January, but the only one she said “made my hands start to sweat” came from the billionaire families that run Magazine Luiza SA. Moraes said yes when the retail giant’s chairwoman, Luiza Helena Trajano, asked her to become one of the few women in Brazil ...

Bloomberg Airbus SE replaced its head of sales after less than a year, adding to the rapid changeover at the top of the planemaker and highlighting the challenge of filling the shoes of inimitable predecessor John Leahy. Eric Schulz, who joined the European planemaker from Rolls-Royce Holdings Plc, will be succeeded by Christian Scherer, 56, an Airbus veteran who has ...