Bloomberg Bank of Canada (BOC) Governor Tiff Macklem warned the nation’s economy could temporarily shrink again amid a second wave of virus cases, tempering good news on the start of inoculations against Covid-19. In his last speech of the year, Macklem said uncertainty remains elevated and new restrictions could trigger a small contraction at the start of 2021. On the …

Bloomberg Credit Suisse Group AG — Switzerland’s second largest lender — cut 10 percent of the staff at its asset management business this year as it seeks to turn around a unit that has been hit by fund implosions in the wake of the pandemic. Switzerland’s second largest lender made the reductions as it closed some investment vehicles and wrote …

Bloomberg Global stocks advanced as Congress moved towards agreement on a spending package that would boost the economy. Treasuries were flat ahead of the Federal Reserve’s policy decision. Gains across markets were modest but broad-based, with the Stoxx 600 Index notching a third day of gains. The pound strengthened as Brexit negotiators worked to strike a trade agreement before the …