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Mitsubishi UFJ Financial Group Inc. (MUFG) is investing more than $700 million in Southeast Asian ride-hailing giant Grab. It’s a three-way deal in which everyone gets what they currently lack. The Japanese megabank and the Singapore-headquartered “superapp,” a one-stop online shop spanning food to finance, get to plug gaps in their businesses. They also keep one of Grab’s existing backers ...

In late 2016, Liam Fox, then the UK’s secretary of state for international trade — a new job created in the aftermath of the Brexit vote — declared the birth of a “post-geography trading world.” With technology breaking down the barriers of time and distance, there was no need to fret about the UK leaving the European Union (EU), the ...

HSBC Holdings Plc is embarking on a radical overhaul while it continues the hunt for a permanent chief executive. For investors, the strategic muddle of this bizarre situation should be at least as troubling as the stinging cuts, $7.3 billion of charges and suspension of buybacks that the bank announced with its earnings on. The London-based lender will cut as ...

Thermal coal has become a byword for the resource industry’s climate crimes. From BlackRock Inc. down, fund managers are reluctant to touch a mineral that releases more carbon dioxide than any other energy source. Large miners, from BHP Group to Anglo American Plc, are trying to dump it. Coal is also — for now at least — profitable. It’s the ...

Bloomberg Looking for the smart money in equities these days? Try taking a peek at your next-door neighbour’s portfolio. A basket of the 50 most-popular stocks among individual investors has rallied 13% this year, compared with an 8.7% gain for a gauge of hedge fund favourites, data compiled by Goldman Sachs Group Inc show. While both exceed the benchmark S&P ...

Bloomberg JPMorgan Chase & Co is broadening its perspective on blockchain technology to show how digital money will change the financial world. The emergence of linked databases like the blockchains that enable Bitcoin and Ether to exist as well as changing consumer preferences has turned the modernisation of payments into a global theme, the New York-based bank said in a ...

Bloomberg Brigita, a director at one of China’s largest car dealers, is running out of options. Her firm’s 100 outlets have been closed for about a month because of the coronavirus, cash reserves are dwindling and banks are reluctant to extend deadlines on billions of yuan in debt coming due over the next few months. There are also other creditors ...

Bloomberg Argentina Economy Minister Martin Guzman and Kristalina Georgieva, managing director of the International Monetary Fund (IMF), discussed plans for a “secure and orderly resolution” of Argentina’s debt situation, the IMF said. The conversation on the sidelines of the Group of 20 meeting in Riyadh, Saudi Arabia, also touched on ways to secure more sustainable and inclusive growth for the ...

Bloomberg JPMorgan Chase & Co is planning to enter the UK consumer-banking market in the next few months, offering a range of savings and loan products under its Chase brand, Sky News reported, citing unidentified sources. The Wall Street stalwart has been in discussions with regulators about securing the necessary approvals to operate in UK personal banking, Sky said. The ...

Bloomberg The ousted chief executive of Danske Bank A/S, Thomas Borgen, has been personally targeted in an investor lawsuit arguing he withheld information about potential money laundering that subsequently destroyed the lender’s market value. Deminor, a Brussels-based law firm, said it has filed a legal complaint against Borgen on behalf of 155 institutional investors seeking damages of 358 million euros ...