Bloomberg With a flat fee of $70 for trips into Manhattan and a guaranteed stream of passengers, a ride to and from New York’s John F Kennedy International Airport is one of the more lucrative journeys for the city’s cab drivers. But federal prosecutors say two 48-year-old Queens men found another way to profit from the crowd of taxis …

  Bloomberg Canadian retail sales edged lower in November after higher gasoline prices boosted spending in October. Receipts for retailers dropped 0.5% last month, according to an advance estimate by Statistics Canada. That erased some of the 1.4% growth in October — the largest increase in five months that was led higher by sales at gas stations and supermarkets. The …

Bloomberg Africa has the potential to produce $1.06 trillion worth of green hydrogen a year by 2035, allowing it to export the fuel and boost local industry, according to a study backed by the European Investment Bank (EIB). By harnessing the world’s best solar energy resource a number of countries on the continent could produce the fuel, which is made …

Bloomberg Deutsche Bank AG is considering giving some of its top earners in Germany and other key markets an elevated salary increase to help offset surging inflation, while cutting bonuses for investment bankers who’ve seen weaker performance. For staff not covered by standard wage agreements, base pay is likely to rise by as much as 4% on average, people familiar …

  Bloomberg Reserve Bank of India (RBI) Governor Shaktikanta Das warned that failing to regulate cryptocurrencies could ignite the next financial crisis and urged the adoption of a new e-Rupee for digital banking needs. “Cryptocurrency has certain huge inherent risks for our macroeconomic and financial stability,” Das said at an event in Mumbai, pointing to the implosion of FTX as …

  Bloomberg Chinese lenders have leaped ahead of their Wall Street peers in global rankings for initial public offerings, as China wraps up a record year for listings which bucked one of the worst slowdowns in deals history. CITIC Securities Co pushed ahead of Goldman Sachs Group Inc as the top underwriter of IPOs this year, followed by China International …

  Bloomberg The Treasury Department’s top official for financial markets and stability expressed little urgency over the federal government’s need to prepare for the potential launch of a digital US dollar. Regulators need to examine whether a central bank digital currency — or CBDC — would actually improve the speed or cost of real time interbank payments, which the Federal …

  Bloomberg Investors are betting the yen may rise as much as another 10% after the Bank of Japan’s (BOJ) unexpected policy shift fueled speculation it is finally abandoning its ultra-dovish monetary settings. The currency may appreciate to 120 per dollar or stronger due to its inexpensive valuations, according to Generali Investments, while Union Investment Privatfonds GmbH predicts a short-run …

  Bloomberg Anne Finucane is stepping down as chair of Bank of America (BofA) Corp Europe and passing the torch to Vice Chairman Paul Donofrio. Finucane will leave her post at the end of the month at the company’s European banking subsidiary, which is based in Ireland, people familiar with the matter said. She will also exit her position as …

Bloomberg European stocks advanced alongside US stock futures after the S&P 500 closed higher for the first time in four sessions, providing a moment of respite in one of the worst years for stocks and bonds in more than a decade. The Stoxx Europe 600 Index rebounded 0.5% from its lowest level since November 9 after global bond yields surged …