Remarks by Fed officials at the symposium in Jackson Hole, Wyoming, confirmed the consensus market expectation that the US central bank will hike interest rates two more times this year, delivering the biggest annual tightening in more than a decade. The increases would be carried out even as the Fed is reducing the size of its $4 trillion balance sheets. ...

China’s banks have a deposit problem. For those outside the so-called Big Four lenders, there’s just not enough to go around. It’s not an issue for the biggest. Industrial & Commercial Bank of China Ltd, Bank of China Ltd, China Construction Bank Corp and Agricultural Bank of China Ltd all share one thing: sticky, low-cost retail deposits. Move down the ...

To Switzerland, and a beautifully engineered corporate U-turn. Zurich-based industrial group ABB Ltd. is considering a sale of its power grids business, according to Bloomberg News. The deliberations come nearly two years after CEO Ulrich Spiesshofer ardently rejected calls from activist Cevian Capital AB for the unit be separated. Perhaps he realises the justifications for keeping it are dwindling. The ...