Bloomberg Business

Something for the weekend.

Wells Fargo & Co.’s former head of retail banking should spend a year in prison for impeding a probe of the bank’s practice of opening millions of accounts for customers without their authorization, prosecutors said.

Tether, the digital token that underpins much of cryptocurrency world’s ecosystem, saw its market capitalization decline for the first time in nine months amid a growing reshuffling of the stablecoin sector.

Senate Minority Leader Mitch McConnell’s health woes risk spilling into the 2024 race, where Republicans face new questions about whether their top tactician and fundraising magnet is up to the task of reclaiming the majority.

BMW AG presented the first prototype of its future electric-vehicle lineup, ringing in a new stage in the fight to catch up to Tesla Inc. and defend sales in its most important market China.

Thailand’s new Prime Minister Srettha Thavisin unveiled a cabinet line-up that sees him also assume the post of finance chief, a rare move as focus turns to his government’s plans to revive the economy.

Uday Kotak, India’s richest banker, resigned Saturday as managing director and chief executive officer of Kotak Mahindra Bank Ltd., giving up the reins earlier than expected to take on the role of a non-executive director.

Italy may accelerate the planned sale of a stake in Banca Monte dei Paschi di Siena SpA to boost public finances as growth slows, according to Foreign Minister Antonio Tajani.