Bloomberg Japan intervened to prop up the yen for the first time since 1998, after its central bank sparked further declines in the currency by sticking with ultra-low interest rates as its global peers hiked. The yen rose as much as 2.5% against the dollar, pulling back sharply from the lows of the day when it had breached a key …

Bloomberg The surging dollar is showing there’s only one macro asset worth buying when the Federal Reserve tightens above its long-term neutral rate. Traders offloaded stocks, bonds and major currencies for a second day after the US central bank raised rates for a fifth time this year. The yen, the biggest Group-of-10 loser, briefly slid past 145 per dollar, prompting …

  Bloomberg Citigroup Inc wants to focus its UK retail-banking operation on its wealthiest customers as the Wall Street giant revamps its overseas presence. The company will invite UK customers that meet the profile of its private bank to make use of those services as it winds down the operation, according to a statement about the proposal. The majority of …