Bloomberg South Korea’s central bank warned that economic growth would be weaker than forecast after cutting its policy rate for the second time this year as a global downturn pummels exports and weighs on prices. The move comes amid a wave of rate cutting by central banks around the world to shore up growth and highlights the sense of urgency …

Bloomberg Bank of America (BofA) Corp posted the biggest jump in investment-banking fees on Wall Street, helping profit overcome headwinds from lower interest rates. Third-quarter debt underwriting fees unexpectedly surged 19% and the firm’s fixed-income traders eked out a slight increase, pushing profit above analysts’ estimates. Its gains in advisory fees also surpassed rivals in the best quarter for the …

Bloomberg Citigroup is calling for greater consistency in implementing regulations for the banking industry Africa and warned frequent changes will harm the sector. The bank’s business was one of 12 lenders Nigeria’s central bank penalised last month for failing to meet credit-provision targets. Citigroup was handed a 100.7 billion naira ($279 million) penalty out of a combined sanction of 500 …