Bloomberg China International Capital Corp., the bank that has brought some of the country’s biggest state-owned firms to market, agreed to buy China Investment Securities Co. to gain a foothold in the retail-brokerage business. CICC, known as the Goldman Sachs of China, will acquire the brokerage from Central Huijin Investment Ltd. for 16.7 billion yuan ($2.5 billion), the Beijing-based ...

  Bloomberg China’s third-largest lender tried to obscure the trail of dollar transactions by Russian, Chinese and Middle Eastern clients and attempted to silence a compliance officer who raised alarms about it, according to New York’s banking regulator. State-controlled Agricultural Bank of China was ordered to pay a $215 million penalty and install an independent monitor for 18 months to ...

  Bloomberg ING Group NV, the largest Dutch lender, climbed the most in three months in Amsterdam trading after third-quarter profit beat estimates. ING jumped as much as 4.2 percent in Amsterdam trading, the biggest gain since Aug. 3, and was priced at 12.02 euros as of 9:44 a.m. Net income rose 22 percent in the quarter as investment gains ...

  Paris/ AFP French bank Societe Generale served investors a pleasant surprise with third-quarter results, sending its shares soaring. Although falling by 2.4 percent to 1.1 billion euros ($1.2 billion), net profit still came in well above analysts’ forecasts of 888 million euros according to Factset, a data provider. Shares in Societe Generale, France’s third largest bank after BNP Paribas ...

  Bloomberg Deutsche Bank AG plans to move some workers from a City of London office building to the Canary Wharf district and sublease the excess space, according to two people familiar with the plan. The lender will shift at least half of the back-office staff from the Appold Street property to the Docklands office by the end of this ...

  Bloomberg Commerzbank AG said it expects to post a full-year profit after costs tied to Chief Executive Officer Martin Zielke’s overhaul pushed Germany’s second-largest lender into a third-quarter loss. The net loss of 288 million euros ($319 million) compares with a profit of 235 million euros a year earlier, the Frankfurt-based company said in a statement on Friday. Analysts ...

  Bloomberg Egypt’s prime minister tried to reassure an anxious public as Egyptians expressed alarm and anger over prices that swiftly soared a day after the nation’s currency was floated, sending its value tumbling as fuel subsidies were cut. In the capital’s working class district of Imbaba, residents spoke of a sudden spike in transportation and food prices, mainly because ...

  AFP Kuwait will issue billions of dollars worth of bonds in international markets to finance a budget deficit resulting from low oil prices, a report said Saturday. Finance Minister Anas al-Saleh said Kuwait will issue US dollar-denominated sovereign bonds of up to $9.6 billion during the 2016/2017 fiscal year which ends March 31, Al-Qabas newspaper reported. This comes on ...

  Bloomberg The Libyan Investment Authority tried to resurrect its lawsuit against Goldman Sachs Group Inc. by adding new accusations of bribery, less than a month after a crushing courtroom defeat in London. But Judge Vivien Rose said at a hearing that the appeal had no chance of success and ordered the sovereign wealth fund to pay Goldman at least ...

  Bloomberg After emerging this week from one of the largest-ever energy-industry debt restructurings, Pacific Exploration & Production Corp. has a new ticker on the Toronto stock exchange and a new mantra: discipline. The oil and gas producer will target profit rather than growing production at all costs, and limit its geographic focus to Colombia and Peru after divesting assets ...