Euro zone banks not facing up to reality of downturn, ECB says
Euro zone banks have not yet fully faced up to the reality of an economic downturn, so finance industry supervisors will need to force them to be more conservative in managing capital, ECB supervisory chief Andrea Enria said on Thursday.
Exclusive: China set to fine Ant Group over $1 billion, signalling revamp nears end-sources
Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul.
