Bloomberg Monetary policy makers of the Democratic Republic of Congo more than doubled the central bank’s benchmark interest rate amid a depreciating currency and the mounting inflationary pressures. The rate was increased to 18.5% from 7.5%, central bank Governor Deogratias Mutombo said in a statement shared by a spokesman from the institution. It’s at the highest level since April 2018. ...

Bloomberg Even for Citigroup Inc., it was big money. The loan operations staff at the New York bank wired $900 million, seemingly on behalf of Revlon Inc., to lenders of the troubled cosmetics giant controlled by billionaire Ron Perelman. It was a mistake for the ages — a “clerical error,” as Citigroup told lenders — that’s now plunged the bank ...

Bloomberg The biggest US and European banks added 19,000 people to their payrolls in first half of year as demand for loans and other services surged during the pandemic and planned staff cuts were largely put on hold. Eight of the top 15 firms increased headcount this year through June, while only four reduced it. Three lenders’ staff levels were ...