Financial Services

The corrupt Medicaid deal propped up tobacco stocks and government revenue.

J.P. Morgan Chase shareholders voted overwhelmingly in favor of the bank’s size and strategy Tuesday, tackling an increasingly common question among analysts and investors of big banks.

Morgan Stanley Chairman and Chief Executive James Gorman said market conditions that have weighed on the Wall Street firm’s profit for the past three quarters remain difficult.

A startup developing uses of the technology underlying bitcoin for trading derivatives has hired a former senior banker and Citadel executive as its chief operating officer.

The Swiss bank has come up with a novel bond to protect itself against its own failings, but equity still looks cheaper.

KKR & Co. has signed an agreement with two of Greece’s leading banks to manage up to $1.35 billion of their problem loans, the latest effort by the struggling Greek banking sector to restructure bad debts festering on their balance sheets.

Japan’s largest bank named two women to be executive officers at its core banking unit, amid an effort by Prime Minister Shinzo Abe to put more women in positions of corporate power.

Vietnam’s Tien Phong Bank suffered a cyberattack that involved an attempt to steal funds using the Swift global interbank messaging service, a senior official at the country’s central bank said.

Diageo’s Latin America sales for fiscal 2016 will be hit by an accounting error the spirits giant made over sales of its high-end tequila brand Don Julio last year, the company disclosed Monday.

Deutsche Bank AG has hired former Electricité de France SA finance chief Thomas Piquemal as global head of mergers and acquisitions, according to a person familiar with the matter.

HSBC said it will move 840 information technology jobs out of the U.K. and into India and other lower-cost countries, as part of previously announced cost-cutting plans.

The aircraft-leasing company, which is controlled by Bank of China, kicked off its IPO roadshow Monday and has attracted $583 million from 11 cornerstone investors.

Health-insurance customers in a growing number of mostly rural regions will have just one insurer’s plans to choose from on the Affordable Care Act’s exchanges next year.

The head of the Irish development agency is looking to create 10,000 finance jobs in Ireland in the next four years. A U.K. referendum on whether to quit the European Union is making his life easier.

The New York Fed defended fund-transfer procedures that have come under scrutiny after the theft of tens of millions of dollars from Bangladesh’s account, in a letter released by a lawmaker.

namedchief executive of the firm’s banking operations, handing the strategy head direct oversight of a business he’d championed.

Big banks on the continent are falling further behind U.S. rivals and there’s little hope for improvement.

Chinese banks sharply reduced lending in April after a credit surge in the first quarter raised concerns that the world’s second-largest economy was returning to debt-fueled growth.

Negative rates in Japan are having limited effect because companies are hesitant to borrow amid global economic uncertainty, said executives at two of the country’s biggest banks.