Bloomberg Chinese banks may cut their benchmark lending rates for a second time this year, giving consumers and businesses some relief as Covid-19 lockdowns and outbreaks wreak havoc on the economy. The one-year loan prime rate — the de facto benchmark lending rate — will likely be reduced by 5-10 basis points from 3.7% on Friday, according to 11 …

  Bloomberg Goldman Sachs Group Inc. is losing its most powerful Black women, according to new data the firm released in a report on its website. The bank had 19 Black women among its executives and senior officials as of November 2021, the bank said, down from 25 a year earlier, while the 24 Black men in that top rank …

  Bloomberg Some of the world’s biggest banks haven’t moved enough senior staff into the European Union (EU) after Brexit, the bloc’s top regulator has concluded, an assessment that will likely lead to renewed pressure for more job moves to the EU. An exercise by the European Central Bank (ECB), known as “desk mapping,” found that several of the lenders reviewed …