Bloomberg Zimbabwe has threatened to ban traders from the country’s foreign-exchange (FX) auction platform for exploiting the gap between black-market and official currency prices. Authorities are dealing with an underground phenomenon that has the potential to “totally destabilise the Zimbabwean economy,” Deputy Finance Minister Clemence Chiduwa said in an op-ed in the state-run Sunday Mail newspaper. Companies and individuals could face …

Bloomberg Bank of America Corp (BofA) Chief Executive Officer Brian Moynihan said the bank will put more capital into its sales and trading teams, after it took advantage of wild swings in the stock market during the pandemic. “On the sales and trading side, our team’s done a fantastic job,” Moynihan said at an Alliance Bernstein conference. “We’re putting more …

Bloomberg The US equity-index futures dropped with Treasuries as investors weighed inflation risks and the impact of a minimum corporate tax on technology firms. The dollar ticked up. Futures on the Nasdaq 100 and S&P 500 declined, while European stocks fluctuated between gains and losses. The 10-year rate added two basis points after Treasury Secretary Janet Yellen said a slightly …