Bloomberg China injected cash into the financial system by offering medium-term loans, in the government’s latest effort to ensure the country’s banks have sufficient liquidity. The People’s Bank of China (PBOC) added 950 billion yuan ($145 billion) of one-year cash via the medium-term lending facility, more than offsetting the 600 billion yuan that matures in December. That’s the fifth straight ...

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 ...