Bloomberg China’s central bank cut the amount of cash most banks must hold in reserve, a move that went further than many economists had expected and suggested growing concerns about the economy’s faltering recovery. The People’s Bank of China (PBOC) will reduce the reserve requirement ratio by 0.5 percentage point for most banks, according to a statement. That will unleash ...

Bloomberg India’s central bank set a coupon of 6.10% for the new 10-year bond sale, higher than that of the current benchmark, signaling a slight tolerance for higher yields after months of trying to cap them at 6%. The government sold 140 billion rupees ($1.9 billion) of the new bond as part of a 260-billion rupee sale, the Reserve Bank ...

Bloomberg The Bank of England (BOE) will ask staff to come into the office at least one day a week from September as UK companies plot the return of workers following plans to relax guidance to stay at home. Employees at the central bank will be expected to organise regular “team days” in the office, Chief Operating Officer Joanna Place ...

Bloomberg Citigroup could add close to 100 new employees to its businesses across the African continent as it surges past rivals to reclaim the top spot in arranging debt sales in the region. The New York-based bank has already started filling roles to add muscle to its local operations in anticipation that the headcount in sub-Saharan Africa will swell by ...

Bloomberg Banco Santander SA is planning to allow some of its staff in the US to work from home on a more permanent basis. While roughly 50% of the firm’s 17,000 US employees are classified as site-dependent, about 45% will be able to split their time between home and the office, Tim Wennes, who oversees the company’s US arm as ...

Bloomberg Deutsche Bank AG is moving more than half of all positions out of Ireland as the German bank seeks to cut costs. The lender is shifting almost 250 roles in Dublin “to other centers around the world,” it said in a statement. However, it will add 35 front office jobs to expand the corporate banking team in Ireland’s capital, ...

Bloomberg Automakers’ sales soared in the second quarter as consumers snapped up sport utility vehicles and pickups, but thin inventories created by the global semiconductor shortage are tempering the pace of the industry’s recovery. General Motors Co, Toyota Motor Corp and others said that their sales soared in the most recent quarter, buoyed by pent-up demand for vehicles as Americans ...

 Bloomberg Nintendo Co announced a new Switch console for release on October 8, a long-awaited $350 gadget likely to stimulate a wave of new software and holiday season sales. The new device marks the first major hardware upgrade to the console originally released in 2017 for $299. Its key upgrades are a larger 7-inch OLED screen and a doubling ...

Bloomberg BMW kicked off assembling its latest electric car, using the occasion to tout green credentials it hopes will appeal to buyers and regulators who increasingly demand sustainable products. The German automaker started series production of the battery-powered iX SUV at its Dingolfing plant near Munich, which sources hydroelectric power from nearby rivers. The model is expected to go on ...

Bloomberg Twitter Inc pledged to “fully comply” with India’s new internet regulations, caving in a dispute with the government over rules that critics say curtail privacy and free speech. The US social media giant has appointed an interim chief compliance officer, will name a grievance officer by July 11 and set up an India office in eight weeks, a lawyer ...