BLOOMBERG The fallout from Silicon Valley Bank’s collapse has led to a continent-wide selloff in financial stocks erasing C$19.7 billion ($14.2 billion) in value from Canada’s top banks in the last four days. Some of the nation’s biggest lenders, including Bank of Nova Scotia, Bank of Montreal and Toronto-Dominion Bank fell more than 2%. With banking equities far and away ...

BLOOMBERG President Joe Biden’s nominee to lead the World Bank called on private-sector lenders to increase efforts to fight poverty across world, citing the need for trillions of dollars in lending that public institutions alone can’t meet. The World Bank needs to leverage its current balance sheet and maximize existing resources, but the total resources of development banks are in ...

BLOOMBERG Chancellor of the Exchequer Jeremy Hunt will hand business a three-year tax break worth about £11 billion by replacing the UK’s most generous ever investment allowance with a temporary measure in next week’s budget, according a government official with knowledge of the matter. Corporation tax rises from 19% to 25% in April, when the so-called super-deduction also expires, a ...