Bloomberg The Philippine central bank is infusing more funds into the economy, slashing big lenders’ reserve requirement ratio (RRR) by 2 percentage points and flagging more cuts to come. “The reduction is intended to calm the financial markets and encourage banks to continue lending to both the retail and corporate sectors,” Governor Benjamin Diokno said in a mobile phone message ...

Bloomberg Citigroup Inc. will award special bonuses to employees under certain income thresholds as it seeks to stem the financial impact of the coronavirus pandemic. In the US, employees who make $60,000 or less a year in base salary will receive a $1,000 payment, Chief Executive Officer Michael Corbat told employees in a memo. For workers based outside the US, ...

Bloomberg The good times for Europe’s bedraggled investment banks came and went in a matter of weeks. Heightened volatility and market turmoil on the back of the coronavirus led to record trading volumes for investment banks in the first quarter, especially in rates, equities and currencies, Citigroup Inc. analysts led by Andrew Coombs wrote in a note to clients. However, ...