Bloomberg Jefferies Financial Group Inc is boosting the salaries of its first-year analysts in the US by more than a quarter, the latest bank to bump pay as they seek to stem defections amid intense workloads. The Wall Street firm will now pay its junior bankers $110,000, up from $85,000 previously, according to a person familiar with the matter. Second-year …

Bloomberg Cryptocurrency lobbyists were caught ill-equipped in one of the first legislative battles for their nascent industry, despite a Herculean push that impressed Washington insiders with its intensity. The industry failed to win a change to crypto tax reporting rules in the infrastructure bill, leaving intact language for broad oversight of virtual currencies in the legislation that’s poised to pass …

Bloomberg Wells Fargo & Co said Charles Noski stepped down as chairman and is being replaced by board member and former JPMorgan Chase & Co Vice Chairman Steven Black. Noski, 68, a director for more than two years and chairman since March 2020, will remain on the board until his retirement on September 30 to help with the transition, the …

Bloomberg European stocks rose to a record on strong earnings, while US futures drifted as investors continued to monitor comments from Federal Reserve officials on scaling back stimulus measures. The Stoxx 600 Index climbed for a seventh day, with Flutter Entertainment Plc leading gains after the gambling company beat profit estimates. US equity futures were little changed, while stocks rose …

Bloomberg Chinese internet stocks rallied in Hong Kong on Tuesday after some brokers started to turn optimistic on the sector and said investors were making an attempt to find a bottom in prices after the recent selloff. The Hang Seng Tech Index rose 2.5%, the most in nearly two weeks, to snap a three-day losing streak. The sector bellwether Tencent …

Bloomberg Oil plunged to an 11-week low, extending losses after the worst week since October, as new waves of Covid-19 threatened fuel demand. Futures fell below $66 a barrel in New York, while wilting timespreads showed the market is faltering. Goldman Sachs Group Inc downgraded its economic growth forecast for China as the country imposed measures to contain virus flare-ups, …

Bloomberg UK airlines are warning that thousands of jobs could be lost if the government fails to reverse course and offer the industry an extension of the furlough program with travel in a slump for a second summer season. Carriers have asked the government for a short-term, sector-specific jobs support plan to tide it through the usually lean winter months, …

Bloomberg Virgin Atlantic Airways Ltd is considering a public offering in London as the company gears up its business for recovery from the pandemic. Executives have been holding discussions with bankers and potential investors, and could announce the company’s plans for an IPO as soon as the autumn, according to a person familiar with the matter who asked not to …

Bloomberg Deutsche Lufthansa AG is expecting long-haul travel to finally pick up this year alongside loosening Covid-19 restrictions and vaccine take up, giving some cause for optimism after a second-quarter loss of 952 million euros ($1.13 billion). North America could open up from late summer with Asia following from the end of the year, the company said in a statement. …

Bloomberg PepsiCo Inc is to sell Tropicana, Naked and other juice brands to French private equity firm PAI Partners for about $3.3 billion as it seeks to bolster its balance sheet and focus on healthier snacks and zero-calorie drinks. The US drinks giant will retain a 39% noncontrolling interest in a new holding company for the brands and has also …