Bloomberg UBS Group AG will compensate its Hong Kong employees for quarantine costs, matching similar plans by US rivals, as global financial institutions step up efforts to retain staff weighed down by city’s strict zero-Covid policy. Citadel, JPMorgan Chase & Co and Morgan Stanley are among those to have rolled out compensation plans for Hong Kong staff. Goldman Sachs Group …

Bloomberg Hong Kong Exchanges & Clearing Ltd (HKEX) plans to establish a representative office in New York to market its offerings in the US amid increasing doubts over the former British colony’s status as a financial hub. The new office will comprise of only about five staff, people familiar with the plans said, asking not to be identified discussing private …

Bloomberg European Central Bank (ECB) President Christine Lagarde called the prospect of an interest-rate increase next year unlikely, but said she’d quickly take action to combat elevated inflation should it become necessary. “When the conditions of our forward guidance are satisfied, we will not hesitate to act,” Lagarde told Reuters in a webcast interview. Her remarks come just days after …