BLOOMBERG FirstRand Ltd. plans to close branches and cut jobs at its South African retail-lending unit as customers switch to digital banking and the continent’s biggest lender by market value responds to an economy on the brink of a recession. Almost 600 positions will be lost at First National Bank, while more than 500 people at the Johannesburg-based company may ...

BLOOMBERG Emerging-market currencies weakened for a second day and stocks fell from a 2016 high as sliding oil prices weighed on assets of commodity exporters and growing wagers the Federal Reserve will raise interest rates as soon as the next quarter damped demand for risk. The South African rand and Russia’s ruble depreciated at least 1.7 percent, leading declines among ...

BERN / Bloomberg The Swiss National Bank (SNB) will probably stay on hold at its monetary policy meeting on March 17 as banks in the country are already facing pressure from negative interest rates, economists and strategists say in notes to clients. The fact that the euro remained broadly stable against Swiss franc after the European Central Bank (ECB) meeting ...