Bloomberg Swiss lawmakers will debate whether banking regulations should be tightened when a parliamentary committee sits to discuss the losses suffered by lenders in the collapse of Archegos Capital Management LP, SonntagsZeitung reported. The conduct of Credit Suisse AG, the biggest loser to emerge from the blowup of Archegos, will be among the topics at the meetings, the newspaper reported. …

Bloomberg Bank of America Corp (BofA) will boost its minimum hourly wage to $25 an hour by 2025 from a current $20, according to its Chief Executive Officer Brian Moynihan. The move follows four years of pay increases that brought the company’s minimum wage to an hourly $20 in 2020 from $15. The Charlotte, North Carolina-based lender will also require …

Bloomberg JPMorgan Chase & Co, the biggest funder of fossil-fuel companies globally, is pledging a 35% reduction in “operational carbon intensity” for its oil and gas portfolio by the end of this decade. The commitment is among steps announced by the largest US bank, which agreed last year to align its financing activities with the United Nations’ Paris climate agreement. …

Bloomberg Deutsche Bank AG is rearranging how it sells fixed-income trading products as it seeks to lower costs without sacrificing revenue from the company’s biggest source of income. The new model will divide the coverage team into two groups, one focusing on flow and liquidity and another on client solutions. That’s in an effort to provide purely electronic or voice …

Bloomberg Equity investors in Asia are actively screening hospitalisation rates and watching predictions on virus peaks, as several countries in the region struggle with a fresh jump in cases. The pandemic’s resurgence has already worsened Asian stocks’ underperformance against their global peers this year. With efforts by countries to reopen their economies taking a hit, the severity of restrictions, the …

Bloomberg Stocks fall with US futures on Wednesday as concerns about faster inflation and Covid-19 flare-ups in some nations rattled investors. Oil dropped for a second day. The Stoxx Europe 600 Index fell the most in a week, with commodity and leisure shares leading the drop. Contracts on all three US benchmarks were lower, led by those on the Nasdaq …

Bloomberg Alibaba Group Holding and partners are investing $400 million in Vietnamese conglomerate Masan Group’s retail arm, a deal that will expand the Chinese e-commerce giant’s online groceries business in Southeast Asia. Alibaba and Baring Private Equity Asia are leading a consortium that will take a 5.5% stake in The CrownX, which holds Masan’s interests in Masan Consumer Holdings and …

Bloomberg Magnit PJSC, Russia’s largest grocery chain, plans to acquire Dixy Holding Ltd convenience-store network in a 92.4 billion ruble ($1.25 billion) deal, a move that will boost its presence in Moscow and St Petersburg. The price may be adjusted on net debt and net working capital changes as of the closing date, according to a statement. Pending regulatory approval, …

Bloomberg For almost a year, Josh Scullion has been chasing the sunshine. The 32-year-old bank worker from Teesside, England, originally booked a package holiday to Mexico in July 2020 with his fiancee and their newborn daughter. That trip was cancelled by tour operator TUI due to a coronavirus flare-up at the destination. A rescheduled Christmas break in the Canary Islands …

Bloomberg Rolls-Royce Holdings Plc said it’s holding discussions with Boeing Co about a new aircraft program, lending more weight to rumblings that the US planemaker is stepping up work on all-new model that would plug a gap in its lineup. “It is fairly well documented that Boeing is exploring the opportunity for a new aircraft,” Rolls CEO Warren East said. …