HSBC to Close India Private Banking Unit as Competition Grows

MUMBAI — HSBC Holdings Plc is closing its private banking unit in India as part of its group strategy, the bank said, marking the exit of another foreign bank from the cut-throat wealth management business in Asia’s third-largest economy. The bank would offer private banking clients the choice to move to HSBC Premier, the bank’s…

European Commission Approves Greek Government Aid to Piraeus Bank

BRUSSELS — The European Commission approved on Sunday additional Greek government aid to the country’s biggest lender Piraeus Bank on the basis of an amended restructuring plan after European Central Bank stress tests showed the bank needed extra capital. “The European Commission has approved additional state aid of 2.72 billion euros to Greek Piraeus Bank…