Bloomberg The Philippine central bank, which held interest rates steady, warned inflation may breach its target this year and that it stands ready to respond to a build up in price pressures. Bangko Sentral ng Pilipinas left the benchmark rate at a record low 2%, as predicted by all 23 economists in a Bloomberg survey. Its last rate move …

  Bloomberg The Czech Republic is likely to extend its aggressive campaign of interest-rate increases as the war in Ukraine fuels already rampant inflation and overshadows risks to economic growth. The Czech National Bank will raise the key rate by at least a half-point to 5%, according to a large majority of analysts in a Bloomberg survey, adding to a …

Bloomberg In a market gripped by concerns over rising interest rates and soaring inflation, investors are avoiding European food delivery companies, turned off by their steep losses and determined efforts to expand. Shares in Delivery Hero SE plunged 59% last quarter, the second-worst performance in Europe’s Stoxx 600 Index. Peers Just Eat Takeaway.com N.V. and Deliveroo Plc dropped more than …

  Bloomberg Chinese technology stocks fell for a second day amid continued concern about the risk of local firms getting kicked off American exchanges. The Hang Seng Tech Index, which tracks some of the biggest Chinese firms in the sector, closed down 0.7% Friday, having earlier lost as much as 3.9%. It falls 1.4% after the US securities regulator played …

Bloomberg GameStop Corp shares surged as much as 22% in extended trading after the company said it plans to ask shareholders for approval of a stock split in the form of a dividend. The gaming retailer will request at its upcoming annual meeting that shareholders approve a proposal to increase the number of Class A shares to 1 billion from …

  Bloomberg Chinese authorities are considering a plan to raise several hundred billion yuan for a new fund to backstop troubled financial firms. The People’s Bank of China (PBOC) is leading the effort, seeking to shore up confidence in the $60 trillion financial system as the economy slows and a debt crisis in the property industry spreads. The stability fund …

  Bloomberg The European Central Bank (ECB) said it is in daily contact with banks on how they’re dealing with implications from sanctions against Russia over its invasion of Ukraine. “In particular, we are assessing whether banks have implemented adequate internal governance arrangements and controls to adhere to the sanctions,” Andrea Enria, who leads the ECB’s supervisory board, said during …

  Bloomberg Citigroup Inc agreed to sell its India retail banking business for about 123 billion rupees ($1.6 billion) cash to Axis Bank Ltd., as the US lender seeks to consolidate its operations in identified markets. Citi will sell its consumer banking businesses including credit cards, retail banking, wealth management and consumer loans, it said in a statement. The transaction …

  Bloomberg BNP Paribas SA’s personal finance unit lost a case at France’s highest court in its dispute over swiss-franc mortgages marketed between 2008 and 2009. France’s Cour de Cassation said that the bank had not given enough information to its customers about the loans’ mechanism, according to the decision that partially overturned an earlier ruling. The loans, which were …

  Bloomberg Stocks in Hong Kong attracted record inflows via exchange-traded funds in March, as retail investors took advantage of a historic dip and an ensuing rebound to bet on further gains. Some 60 equity ETFs tracking the city’s indexes added $4.4 billion since end-February, the most in monthly data compiled by Bloomberg going back to 2000. The Tracker Fund, …