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    Bloomberg Reserve Bank of India (RBI) allowed Life Insurance Corp of India (LIC) to double its stake in private-sector lender IndusInd Bank Ltd., the company said in a filing to exchanges. The nation’s largest insurer can raise its stake in the bank founded by the billionaire Hinduja brothers up to 9.99% from the current 4.95%, the bank said …

  Bloomberg JPMorgan Chase & Co was ordered by a London judge to give a trader that it fired during a market spoofing probe a near $600,000 job at the investment bank. The bank must rehire Bradley Jones, a cash equities trader, who won his unfair dismissal case earlier this year. Jones successfully argued that he was only fired because …

  Bloomberg The Philippine central bank is looking into complaints that some clients of BDO Unibank Inc, the country’s largest lender by assets, lost money to an online fraud in which funds were channeled to accounts at Union Bank of the Philippines. “We are in close coordination with BDO as well as UBP on this incident to ensure that remedial …

  Bloomberg Deutsche Bank AG’s control lapses keep haunting Christian Sewing. The Chief Executive Officer of Germany’s largest lender has spent his almost four years in the role trying to mend relations with regulators and restore a path to sustainable profitability. While he’s made progress on the latter, a slew of recent legal and regulatory headaches threaten to overshadow those …

  Bloomberg The Federal Reserve, in a review of the massive losses banks incurred in the collapse of Archegos Capital Management, told lenders they must maintain sufficient margin when dealing with investment funds and are responsible for understanding their positions. The regulator is still reviewing specific firms’ weaknesses and may take further action, the Fed said in a letter to …

  Bloomberg China’s central bank took further steps to limit the yuan’s strength, a day after policy makers made their most substantial move yet to rein in the currency’s surge against the dollar. The People’s Bank of China (PBOC) set its daily yuan fixing at the weakest relative to estimates since Bloomberg began publishing the forecasts in 2018. The fixing …

  Bloomberg European stocks and US futures rise on Monday as traders prepared for a wave of central bank decisions this week amid concerns about economic risks from the omicron virus variant. Miners led an advance in Europe’s Stoxx 600 Index as the price of iron ore jumped on expectations that China will move to increase the stimulus next year. …

  Bloomberg The fastest inflation print in nearly 40 years is rattling nerves on Wall Street where economically sensitive trades are hitched to an ultra-accommodative Federal Reserve. The spread between five- and 30-year Treasury yields has narrowed relentlessly this quarter, with that curve now near the flattest since March 2020. It’s a sign bond traders are betting faster rate hikes …

  Bloomberg PT Garuda Indonesia is entering a court-supervised debt restructuring process after a Jakarta court accepted a debt petition filed against the airline in a test of how far Indonesia’s government will go to rescue a state-owned company. Garuda amassed $9.8 billion in debt and judges in the Central Jakarta Commercial Court accepted a petition to suspend debt payments …

    Bloomberg Indian regulators are investigating a Boeing Co 737 Max incident, operated by SpiceJet Ltd, which caused the plane to turn back to Mumbai shortly after departing for Kolkata and its pilots to shut down an engine due to a technical issue. While the plane landed safely and nobody was injured, the incident is sensitive as it involved …