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  Bloomberg Citigroup Inc’s sale of its Brazilian unit should face tougher scrutiny from the nation’s antitrust office because the local banking industry is already highly concentrated, one of the agency’s regulators said. Any banking mergers should immediately be deemed ‘complex,’ Cristiane Alkmin Junqueira Schmidt, a member of the agency, said. “I am really uncomfortable approving any transaction in the ...

  Bloomberg Changes to the capital treatment of sovereign bonds discussed in Brussels and Basel may force European banks to raise as much as 171 billion euros (US$195 billion) in new capital or sell 492 billion euros of the securities, according to research published. European banks own about 2.3 trillion euros of sovereign debt, of which about 1.5 trillion euros, ...

  AP French bank Societe Generale has been ordered to pay about 450,000 euros ($510,000) to former trader Jerome Kerviel for unfair dismissal, after he was accused of one of the biggest trading frauds in history. Kerviel has become an icon for critics of the banking world, and his supporters hailed decision in his favour by a labour arbitration court. ...

  Mainz / DPA Gardeners at the Johannes Gutenberg University of Mainz in Germany are attempting to bring to life a 15th-century herb garden partly based on Arab medical traditions. In their botanical gardens they’ve planted more than 70 plants featured in a 1485 book — published in the German city of Mainz — called Gart der Gesundheit (Garden of ...

  Accra / AFP Excess and waste are usually considered symptomatic of the affluent West but trained chef Elijah Amoo Addo knows these are problems too in his home country, Ghana.One day he saw a homeless man collecting food scraps to feed others in the capital, Accra. Watching someone pick up food no-one else would eat for people no-one was ...

  Bloomberg Chancellor of the Exchequer George Osborne hit back at claims he’s scaremongering in his campaign to keep Britain in the European Union, saying “there is a lot to be scared about.” Osborne rejected accusations he had misrepresented Treasury analysis of the consequences of a vote to leave the EU on June 23 and overstated the impact of an ...

  Bloomberg The U.K.’s 10-year government bond yield dropped to a record before an auction of index-linked debt, the final sale before the nation’s referendum on European Union membership. The yield could fall further to 1 percent in the event that the U.K. votes to leave the world’s biggest single market on June 23, according to Daniela Russell, a portfolio ...

  Bloomberg A U.K. vote to leave the European Union could cut gross domestic product of the Netherlands by €10 billion ($11.4 billion) by 2030 due to an increase in the cost of trade, having a “relatively severe effect” on the economy, the Dutch planning agency said. Assuming that trade also fosters innovation, Brexit-related costs could increase another 65 percent, ...

  Bloomberg Pro-EU forces have warned that if Britain votes to exit the union on June 23, the country could lose almost a million jobs. Recruiters say the damage has already begun. “Companies are pushing the pause button,” said Kit Bingham, a partner at executive search firm Odgers Berndtson. An Odgers poll last month found that a quarter of directors ...

  Bloomberg Dong Energy A/S became Europe’s biggest initial public offering this year, with investors lining up to own shares in the Danish utility as it transforms itself into a renewable energy giant. The world’s biggest offshore wind-park operator sold 17.4 percent of its shares at 235 kroner a piece, raising 17.1 billion kroner ($2.6 billion), according to a statement ...