European banks need to join forces if the region is to withstand competition from the United States and China but without a banking union, cross-border mergers do not make sense, the head of Italy’s biggest bank Intesa Sanpaolo said on Monday.
Inflows into U.S.-listed exchange traded funds (ETFs) tracking Indian stocks were set for their best year on record, as the country’s consistent economic growth and surging population drew in investors hunting for an alternative to China.
Citigroup’s managers and consultants working on CEO Jane Fraser’s reorganization have discussed job cuts of at least 10% in several major businesses, CNBC reported on Monday, citing people with knowledge of the process.
The Bank of England said on Monday it had appointed one of its senior regulators, Nathanael Benjamin, to its Financial Policy Committee (FPC) after naming him executive director for financial stability strategy and risk.
China’s attempts to keep the yuan from falling contributed to last week’s chaos in money markets, sources involved say, pointing to the pressure behind the scenes as Beijing tries to guide its economy and markets through a major slowdown.
India’s central bank could restart its rate increases if Brent crude oil rises and stays above $110 per barrel, widening the country’s current account deficit and hurting the rupee, Morgan Stanley said in a note on Sunday.
Singapore’s biggest bank DBS Group reported on Monday a better than expected 18% jump in third-quarter net profit on the back of higher interest rates, which it forecast will also help keep its profit steady next year.
Australian No. 2 lender Westpac , said on Monday that annual profit jumped by a quarter as a pickup in business lending and one-off benefits more than made up for a decline at its main mortgage unit, sending the bank’s shares higher.