Tuesday , May 23 2017

Banking

Wells Fargo, consumers made last ditch efforts to rescue $142mn bogus-account settlement

Wells copy

Bloomberg Both sides of Wells Fargo & Co.’s $142 million settlement over its fake-accounts scandal made last-ditch efforts to salvage the class-action pact after a federal judge voiced misgivings about some of its terms. Lawyers for the bank and customers submitted new information in an attempt to address U.S District ...

Read More »

Asia’s top carry trade stokes rupee bulls with RBI on sidelines

A man shows new Rs 2000 currency after exchanging old Rs 500 and 1000 denominations at srinagar on Thursday 11 November 2016
PHOTO BY BILAL BAHADUR

Bloomberg Reserve Bank of India’s (RBI) apparent tolerance of rupee gains is burnishing the appeal of Asia’s best carry-trade currency. RBI governor Urjit Patel already surprised analysts by raising a key interest rate last month, and now there’s little indication that officials are intervening heavily to slow currency gains—unlike some ...

Read More »