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  MILAN / REUTERS Banca Popolare di Vicenza faces legal claims of upto 1.65 billion euros ($1.9 billion) from clients who allege they were misled into buying its shares, potentially undermining a state-backed rescue of the loss-making bank. Italy’s eighth-largest bank revealed the legal risks in a 950-page prospectus for its initial public offering, aimed at raising money to shore ...

  Bloomberg Apollo Global Management LLC said it plans to use its purchase of Nova Kreditna Banka Maribor (KBM) to build a regional “champion” that will compete with three other main banking groups in a streamlined industry. Apollo, which completed the 250 million-euros ($284 million) takeover this week, wants to merge Nova KBM with Postna Banka Slovenije and Raiffeisen Bank ...

  Bloomberg The European Central Bank (ECB) said it plans to start buying corporate bonds in June as it unveiled more details of its purchase programme. The bank will start buying corporate bonds maturing between six months and 30 years, according to a statement on the bank’s website. Purchases will include bonds issued by insurance companies, while excluding those sold ...

  Toronto / REUTERS Trading activity in North America’s first yuan hub, Toronto, has fallen short of the heightened levels expected at its launch and local banks should be doing more to spur growth, an Industrial and Commercial Bank of China (ICBC) executive said. The hub was launched more than a year ago to foster increased trade and investment activity ...

  New York / AFP The yen weakened sharply amid reports that the Bank of Japan (BOJ) is mulling cutting the rates on some loans to banks into negative territory. Such a move would support the banks’ earnings but also serve as stimulus by possibly pushing more money into the economy. The news sent the yen tumbling 2.1 percent against the ...

  BLOOMBERG Svenska Handelsbanken AB needs to take a bigger share of the wealth market to reach its ‘natural’ size in the business area, according to its chief executive officer, Frank Vang-Jensen. The bank is buying Dutch firm Optimix, which will add about $2.3 billion to its assets under management. Vang-Jensen says he also wants to invest more in 10 ...

  Natendorf, Germany / DPA Two polar bears, Nanuq and Sprinter, play in their zoo enclosure: Using their powerful teeth and enormous claws, they press a white ball under the water and then let it shoot up again to the surface. The bears, both males weighing around 500 kilograms and measuring 3 metres in length, are comparable to teenaged human boys ...

  New York / AP Walking through most doors at the Tribeca Film Festival means taking a seat in a theater full of chattering moviegoers. But there are also darkened, cloth-wrapped chambers — like old carnival booths promising never-before-seen wonders — that offer nothing but a headset, headphones and perhaps some advice, like: “Watch for the dragon.” Virtual reality has steadily ...

  London / AFP A plaque was unveiled in central London on Thursday, marking the place where William Shakespeare lodged in the city, in time for the 400th anniversary of the playwriter’s death. Actress Fiona Shaw read out Shakespeare’s “Sonnet 55”, while hand bell ringers and a children’s choir performed. “William Shakespeare had lodgings near here in 1604, at the house ...

  JASON DEAREN/ AP Wearing black headsets with tentacle-like sensors stretched over their foreheads, the competitors stare at cubes floating on computer screens as their small white drones prepare for takeoff. “Three, two, one … GO!” the announcer hollers, and as the racers fix their thoughts on pushing the cubes, the drones suddenly whir, rise and buzz through the air. ...