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The dirty money scandal engulfing Europe’s post-crisis banking champions is leading to a lot of finger-pointing inside the bloc. The EU’s bank supervisors are investigating possible regulatory failures at the national level, but national supervisors are pushing back. The latest evidence of local muscle-flexing comes from the Italian central bank, which has asked ING Groep NV to stop taking on ...

The Trump administration says the US faces a “national security and humanitarian crisis” at its southwest border. The situation has indeed deteriorated — and President Trump’s approach to the issue is one reason why. His misguided policies have made a surge of asylum seekers from Central America harder to handle, and diverted attention and resources from a problem that has ...

At the fourth United Nations Environment Assembly in Kenya this past week, experts and officials from around the world debated how to come up with the investment and innovation needed for countries to grow without dooming the planet. National leaders, NGOs and others discussed, among other things, how to create more “sustainable patterns of consumption and production.” What really struck ...

Public pressure is not a good reason for government to pull an aircraft out of service. Have we learned nothing from past panics? After an Ethiopian Airlines crash killed 157 passengers on March 10, and a Lion Air crash killed 189 last fall, the Trump administration issued an executive order to ground the Boeing 737 Max 8 and Max 9 ...

You had to be there. To really see Tesla Inc.’s new Model Y, that is. Those catching the livestream of the unveiling of company’s compact SUV got a relatively brief look at the Y. Much of the event was taken up with something like a greatest-hits rundown of Tesla’s previous vehicles, both real and promised. CEO Elon Musk poked at ...

Bloomberg It seems increasingly clear that Danske Bank A/S was far from alone in its involvement in one of the world’s biggest money laundering scandals. Karsten Dybvad, the chairman of Denmark’s largest lender, says he hopes the $230 billion dirty money saga that has engulfed Danske doesn’t end up being even bigger. “But we can see in other banks that ...

Bloomberg Deutsche Bank AG, the struggling German lender that’s in talks about a merger with Commerzbank AG, is weighing giving up as many as three of the 10 floors it occupies in Hong Kong’s tallest skyscraper, people with knowledge of the matter said. Deutsche Bank signed the 10-year lease in the 484 meter (1,588 feet) International Commerce Centre in 2010 ...

Bloomberg Bank of America Corp. (BofA) has bought its biggest distressed asset in India, adding to a growing trend of foreign investors diving deeper into the country’s massive pile of bad debt. A group of investors led by the US bank have paid 33 billion rupees ($479 million) for soured loans of a beleaguered Indian maker of cast iron pipes, ...

Bloomberg The European Central Bank (ECB) is approaching the point where it needs to decide whether if negative interest rates are more problem than solution. Since officials pushed back plans to tighten policy, warnings have increased that the potency of a key instrument used to rekindle growth in the 19-nation bloc is diminishing the longer it remains in place. France’s Francois ...

Bloomberg UBS Group AG is adding tech bankers ahead of what promises to be a busy year for initial public offerings and technology banking transactions. The Zurich-based bank hired Bob Casey and Robert Jackman to join its US technology investment banking team, according to a memo sent by Jason Auerbach, UBS’s head of technology banking for the Americas. They are ...