Bloomberg The pound advanced after the UK’s employment rate hit a record high, weakening the case for an imminent interest-rate cut. Sterling rose against all its Group-of-10 peers as the UK labour market figures ended a run of weak economic data. Money markets trimmed bets that the Bank of England (BOE) will lower borrowing costs on January 30 to around ...

Bloomberg Palladium’s extraordinary rally has the potential for prices to go on and test $3,000 an ounce, according to Goldman Sachs Group Inc’s Jeffrey Currie, who twinned that outlook with a clear warning that such peaks wouldn’t last for long as the record levels would cut into demand. “The upside potential is significant as the market is now in a ...

Bloomberg UBS Group AG missed key targets for 2019 as investors pulled money late in the year, underscoring the challenge for new wealth management co-head Iqbal Khan as he seeks to turn around its most important business. The Swiss bank failed to meet several metrics set during a revamp of its goals just over a year ago, highlighting mounting headwinds ...

Bloomberg Citigroup Inc spends about $8.5 billion a year on technology, but the bank’s boss says that doesn’t mean branch workers will all be replaced by machines anytime soon. Modernising the bank’s app and digital-banking experience won’t necessarily result in Citigroup needing fewer people in its retail bank, Chief Executive Officer Michael Corbat said on Tuesday in a Bloomberg Television ...

Bloomberg Uber Technologies Inc will sell Uber Eats in India to local rival Zomato in a $172 million deal, according to a person familiar with the transaction, underscoring the ride-hailing giant’s effort to cut back on loss-making operations. Uber agreed to offload the business in return for 9.99% of the Indian startup, maintaining a foothold in one of the world’s ...

Bloomberg Indian policy makers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home. Investors are speculating about potential steps finance minister Nirmala Sitharaman could unveil when she presents the nation’s budget on February 1. These measures may include freeing up firms to borrow at higher ...

Bloomberg A sale of Indonesian sovereign debt drew the most bids in more than three years, underscoring rising demand for emerging-market assets as trade tensions eased. The ministry of finance received 94.98 trillion rupiah ($7 billion) of offers at an auction of 15 trillion rupiah of government bonds. The level of incoming bids was a record based on data compiled ...

Bloomberg Huawei Technologies Co founder Ren Zhengfei shrugged off the threat the US will impose even stricter sanctions against his company, saying he was confident China’s largest tech company can survive further attacks from Washington. Tighter restrictions on the sale of American technology to the telecommunications giant — something the White House is considering — will not have very significant ...

Bloomberg Most of China’s provinces are expecting slower economic growth in 2020, underlining the nationwide trend which is expected to result in a tweaking of the formal goal when the legislature meets in March. Twenty-two of 31 major cities, provinces and autonomous regions have so far cut their 2020 target for gross domestic product (GDP) expansion, according to their work ...

Bloomberg China Water Environment Group Ltd, backed by the nation’s state-owned investment holding company, is considering an initial public offering in Hong Kong that could raise more than $500 million, according to people familiar with the matter. The water treatment company is working with advisers on a listing that could take place as soon as in the second half of ...