Weekly Global News Wrap: Bain Capital sells Axis Bank stake for $429m; Switzerland boosts banking rules

And Postbank employees escalate their strike for a 15.5% wage hike.

From Reuters:
Bain Capital has sold its entire stake at India’s Axis Bank for $12.87 per share to raise $429m, according to exchange data.

Bain sold 33.4 million shares in the block trade, according to a term sheet reviewed by Reuters.

Morgan Stanley Asia Singapore, BofA Securities Europe and Societe Generale, bought a 0.4% stake in Axis Bank through Bain's sale.

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From Reuters:
A months-long wage dispute at Deutsche Bank's Postbank is escalating with additional strikes ahead of a fourth round of talks next week.

The labour union Verdi, which represents thousands of bankers in the wage negotiations, has extended a strike this week to also include Thursday in what officials said would make for a 20th day of walkouts.

Postbank employees are demanding a 15.5% pay raise.

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From Reuters:
Switzerland is proposing measures to strengthen regulations on banks known as “too big to fail”, following gaps found during UBS’ rescue takeover of Credit Suisse.

The government’s 209-page report outlines 22 measures that will affect UBS and three other systemically relevant banks. The measures are aimed at protecting the country from a repeat of last year's Credit Suisse collapse.

Amongst proposals include giving more powers to Swiss financial regulator FINMA, increasing capital requirements, and improving cooperation