Bloomberg Barclays Plc might struggle to reach its profitability target for the year and could cut discretionary awards as the coronavirus pandemic disrupts its business, joining a string of global lenders. “It’s going to be a tough year for earnings,” Tushar Morzaria, finance director, said on Tuesday at the Morgan Stanley European Financials Conference, held virtually this year. Barclays might …

Bloomberg HSBC Holdings Plc’s search for a new chief ended where it began: with its caretaker CEO Noel Quinn. The bank said Quinn would become its permanent boss, after seven months as interim leader. The board had struggled to secure an external candidate while trying to respond to an increasingly treacherous global economy that’s been rocked by the impact of …

Bloomberg Iceland’s central bank made a second emergency cut to its benchmark interest rate inside a week as the number of confirmed cases of coronavirus rose to 247 in the tiny north Atlantic nation. The seven-day term deposits rate was reduced by 0.5 percentage points to 1.75%, its lowest level ever. Sedlabanki also reduced countercyclical capital buffer on financial institutions …