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  Bloomberg China’s central bank has approved trading of credit-default swaps by financial institutions in the nation’s interbank market, as it seeks to help investors tackle rising non-payment risks among the country’s borrowers, according to people familiar with the matter. The National Association of Financial Market Institutional Investors (NAFMII), a unit under the People’s Bank of China, will likely make ...

  Bloomberg Forecasts for what would be the first decline in total profits at China’s biggest banks in 10 years are raising concern in the bond market that lenders will need state help to clean up mounting bad debts. The yield premium for Industrial & Commercial Bank of China Ltd.’s 6 percent Additional Tier 1 securities, which count as capital ...

  Bloomberg The Bank of England will cut interest rates close to zero later this year as concern persists about the longer-term impact of the Brexit vote, according to a survey. Forecasts in the latest Bloomberg monthly poll show that recent signs of strength haven’t dissuaded economists from the view that there will be a sharp cooling in growth in ...

  Bloomberg ICICI Prudential Life Insurance Co. attracted strong demand for its initial public offering of as much as 60.6 billion rupees ($904 million), as the nation’s biggest such deal in six years drew orders of more than 6.5 times the amount of stock for sale. Institutional investors subscribed to about 7.82 times the number of shares reserved for them, ...

  Bloomberg The euro area’s biggest banks will face “indicative” requirements for loss-absorbing funds this year to avoid confusion as global and European regulators wrap up work on new standards, according to Elke Koenig, head of the Single Resolution Board. The Brussels-based SRB, the resolution authority for 142 banks including Deutsche Bank AG and BNP Paribas SA, will use the ...

  Bloomberg Canadian Imperial Bank of Commerce, National Australia Bank Ltd. and Bank Leumi Le-Israel Ltd. formed an alliance to develop technologies faster and cheaper amid an industrywide shift toward digital banking. The three lenders agreed to share information, co-develop products and services and swap employees in areas of payments, digital banking, cyber security and emerging financial technology, according to ...

  Guess what? A President Trump could adopt his new trade agenda without any authorization from Congress — and this could trigger a global trade war and a deep U.S. recession. Policies that promise to make us stronger economically could do the opposite. That’s the main take-away of a study by the Peterson Institute, a Washington think tank, of the ...

  Even during the presidential primaries it was obvious that traditional TV advertising wasn’t working as well as it once did: Four Republican candidates were outspending Donald Trump but losing to him, and Bernie Sanders spent more on TV spots than Hillary Clinton. Now, with the general election campaign in full swing, the efficiency of TV ads remains in doubt. ...

  If the most famous U.S. government secret revealed by Edward Snowden had been the only one he divulged, deciding whether he deserves a pardon from President Barack Obama would be a tougher call. Snowden famously disclosed in 2013 that the National Security Agency had been collecting Americans’ electronic metadata in bulk. The program was authorized only by a dubious ...

  The global spotlight on the refugee crisis has been prompted by the unprecedented migrant wave, not seen even during World War II. And the wave isn’t ebbing. Instead, it continues to grow and has brought in its wake a tsunami-like impact. How far the New York Declaration adopted at the recent UN Summit for Refugees and Migrants would help ...