Bloomberg HSBC Holdings Plc will establish an office to spearhead its strategy in China’s fast-growing Greater Bay Area, stepping up its bet on the world’s second-largest economy. Daniel Chan, currently head of business banking at HSBC in Hong Kong, was named head of the unit, which will oversee the strategy to “capture opportunities” in Guangdong, Hong Kong and Macau, the …

Bloomberg Tanzania’s central bank ordered the nation’s lenders to deal with souring loans and slash costs, threatening jobs in the latest industry reforms announced by President John Magufuli’s government. Bank of Tanzania gave lenders until the end of 2022 to reduce their cost-to-income ratios to below 55% and to cut non-performing loans to below 5% of their books, according to …

Bloomberg Apple Inc. has sold $14 billion of bonds to take advantage of cheap borrowing costs, tapping the market for a third time since May as the company looks to return more cash to shareholders. The company issued debt in six parts. The longest portion of the offering, a 40-year security, will yield 95 basis points above Treasuries, after initially …