Bloomberg British banks turned down more than 150,000 applications for government-guaranteed business loans during Covid-19 outbreak in an effort to prevent fraud, according to industry watchdog. The Financial Conduct Authority (FCA) told lenders not to relax their checks on potential borrowers when they offered credit under the Coronavirus Business Interruption Loan and Bounce Back Loan programs, according to CEO Nikhil …

Bloomberg Two days after fading odds of a Blue Wave Congress appeared to kill off the reflation trade, Citigroup Inc. and Barclays Plc see signs of life. While the likely failure of the Democratic Party to take over the Senate means any fiscal splurge will probably be smaller, the prospect of increased Federal Reserve stimulus enhances the appeal of inflation-linked …

Bloomberg Wells Fargo & Co. plans to freeze raises for top earners as the bank’s new leadership team retools compensation practices with a close eye on costs, according to people briefed on the plans. The measure, revealed to some managers on a conference call, will halt increases in base pay in the coming year for employees making more than $150,000, …