South Korea’s won traded near a one- week high as investors waited for Federal Reserve Chairman Janet Yellen’s first report to Congress for clues on how the central bank intends to pace cuts to its stimulus program.
Shinhan Bank is marketing bonds denominated in U.S. dollars due July 2017 to yield between 365 basis points and 375 basis points more than similar-maturity Treasuries, a person familiar with the matter said.
Anton Valukas, the examiner who wrote a 2,209-page report about the downfall of Lehman Brothers Holdings Inc. , will ask the bankruptcy judge at a June 17 hearing to give him a release, prevent anyone from suing him and his lawyers, and prohibit anyone from calling him as a witness.
Shinhan Financial Group Co. , South Korea’s largest financial company by market value, named its life insurance unit president to head Shinhan Bank, replacing Lee Baek Soon who offered to resign following an indictment.
South Korea’s Financial Supervisory Service asked Shinhan Financial Group Co. ’s lending unit to provide data to help it assess whether Chairman Ra Eung Chan broke the law by opening an account in another person’s name.