Stock markets around the world fell hard on Monday on fears that China’s willingness to let the yuan slide in response to the latest U.S. tariff threat could further aggravate trade-related tensions between the world’s two largest economies.
UBS Group will impose from November a negative interest rate of 0.75% on wealthy clients who deposit more than 2 million Swiss francs ($2.02 million) with its Swiss bank.
Spain’s anti-corruption prosecutor has asked Spain’s High Court to put the country’s second-biggest bank,BBVA, under formal investigation as part of a probe into an alleged spying case, the prosecutor’s office said in a statement on Wednesday.
India’s state-run Punjab National Bank (PNB) on Saturday said it had reported a borrowing fraud of 38.05 billion Indian rupees ($556 million) in Bhushan Power & Steel Ltd’s account to the country’s central bank.
The Turkish lira soared nearly 2.8% on Monday to its strongest level since April after President Tayyip Erdogan said he heard from U.S. President Donald Trump there would be no sanctions over Turkey’s purchase of Russian S-400 defence systems.
Pakistan’s rupee dropped to another record low on Wednesday, sliding more than 3% in a day, the central bank said.
The Turkish lira, bonds and shares gained on Monday after the opposition dealt a stinging blow to President Tayyip Erdogan by winning control of Istanbul in a re-run mayoral election on Sunday.
The Russian state-run VEB.RF applied to the arbitration institute of the Stockholm Chamber of Commerce for compensation of losses of its subsidiary bank in Ukraine, the development institution said on Friday.
Swedbank shareholders elected Goran Persson as chairman on Wednesday, with the former Swedish Prime Minister pledging to “clean the house” after a money-laundering scandal.
Deutsche Bank is planning to overhaul its trading operations by creating a “bad bank” to hold tens of billions of euros of assets and shrinking or shutting its U.S. equity and trading businesses.