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Bloomberg A sprawling Russian banking group run by an ally of President Vladimir Putin is fast becoming one of the most powerful forces in the country’s grains market. Since entering the grain export business last year, Andrey Kostin’s government-backed VTB Group has loaded up on assets including port terminals, a rail-freight operator and a trader. Those investments could be worth ...

Bloomberg The European Court of Auditors (ECA) joined regulators in questioning the value of the EU’s bank stress test, saying last year’s exercise should have been tougher and more consistently applied across the bloc. The scenario simulated by the European Banking Authority, the EU’s top banking regulator, was milder than the 2008 financial crisis, according to an ECA report. The ...

Bloomberg In one of the darker weeks for finance jobs, Citigroup Inc said it’s planning to increase senior banking hires across key sectors and markets as it aims to become a top-three investment bank. The lender is seeking to add to its healthcare and technology teams, and is also looking to increase local deal-making clout in some emerging markets, Tyler ...

Bloomberg Britain’s ambassador to the US dramatically resigned after leaked comments in which he criticised the Trump. White House sparked a major diplomatic row between the transatlantic allies. President Donald Trump decided to freeze out Kim Darroch, saying he would no longer deal with the man who had called his administration “inept” and “uniquely dysfunctional.” In a statement released by ...

Bloomberg Iranian Foreign Minister Mohammad Javad Zarif said the US needs to stop its “economic terrorism” against his nation as it won’t agree to hold talks under duress. “Negotiations are never possible under duress,” Zarif was quoted as saying on Wednesday in Tehran, according to the official Islamic Republic News Agency. “Pressure and economic terrorism against Iran must stop and ...

Bloomberg Labor Secretary Alex Acosta doesn’t plan to resign over his association with financier Jeffrey Epstein and was expected to hold a conference on Wednesday, a Department of Labor official said. Acosta has come under increased pressure since Epstein’s indictment for conspiracy was revealed. In 2008, Epstein pleaded guilty to state charges in Florida in order to resolve similar allegations ...

Bloomberg The woman designated to be the most powerful official in the European Union said she hopes the UK changes its mind and stays in the bloc after all. In a clear indication that she will try to prevent the UK leaving without a deal, Ursula von der Leyen, nominee for next European Commission president, told EU lawmakers that if ...

Bloomberg Television Broadcasts (TVB) Ltd, Hong Kong’s dominant broadcaster, has come under attack on social media for its alleged pro-Beijing bias in the coverage of recent political protests in the city, with campaigners urging companies to pull their commercials. Organisers of the drive have managed to score at least one win. Sports drink brand Pocari Sweat, owned by Japanese health ...

Bloomberg Mexican President Andres Manuel Lopez Obrador, under pressure after the resignation of his finance minister, warned other officials may quit his government as part of the deep policy changes he is leading. “In a democratic government there are always differences and disagreements,” Lopez Obrador said at his daily press conference. “You have to get used to the changes and ...

It looks as if Vladimir Putin wants to be recalled as something besides being an aggressive autocrat. He yearns, it seems, to be seen as a leading political thinker, respected for his analysis as well as feared for his actions. This is a reasonable reading of Putin’s recent interview with the Financial Times, which included his remarkable declaration that the ...