Bloomberg Pick n Pay Stores Ltd. will more than double the pace of low-cost food and clothing store openings over the next year as living costs rise and cash-strapped shoppers turn to cheaper alternatives. The South African grocer plans to open 61 of its discount Boxer food stores in the fiscal year through August, from 36 in the previous …

  Bloomberg BNP Paribas SA has won approval to set up a wealth-management joint venture in China, adding competition to global rivals including BlackRock Inc. and Amundi SA vying for a slice of the $4 trillion market. China’s banking regulator has granted permission for the French lender’s asset-management arm to form the venture with the wealth unit of Agricultural Bank …

Bloomberg Bank of America Corp (BofA) reported its highest quarterly net interest income (NII) in at least a decade as the lender reaps the benefits of the Federal Reserve’s interest-rate hikes, and debt traders beat analysts’ estimates. NII, a key source of revenue for the bank, rises 24% to $13.8 billion in the third quarter on higher rates and loan …