BEIJING (Reuters) - China's leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaults, business failures and job losses, said sources involved in policy-making.
MOSCOW (Reuters) - With Russia's economy battered by economic sanctions and plunging oil prices, President Vladimir Putin has allowed the central bank to administer strong medicine, sharply raising interest rates even as it freed the rouble to float.
SHANGHAI (Reuters) - China's latest interest rate cut is set to dent the profitability of domestic lenders, especially mid-sized banks, which are already suffering from higher bad loans and a slowdown in profit growth.
(Reuters) - Visa Inc , the world's largest credit and debit card company, said it might have to pay more than $10 billion to buy its London-based European licensee, Visa Europe Ltd, if its owners exercise their option to sell it.
(Reuters) - Bank of America has hired two U.S. government officials to join its financial crimes team, according to three people familiar with the matter, as banks are under increasing pressure to police their transactions for suspicious activity.