Bloomberg Nigerian President Muhammadu Buhari delayed a plan to outlaw some old high-value banknotes to April 10 as the West African nation struggles with a shortage of cash. The central bank in October announced that it would redesign 200-, 500- and 1,000 naira notes in a bid to mop up excess cash and rein in inflation. That led to ...

  Bloomberg Credit Suisse Group AG is exiting distressed debt and special-situations trading, as part of its broader exit from risky and capital-intensive businesses. The bank is selling a book of assets including bond and loan positions related to distressed companies, with a market value of about $250 million, according to people with knowledge of the matter. Final commitments from ...

  Bloomberg A $2 trillion swathe of China’s local bond market is approaching a risky inflection point as issuers struggle to refinance maturing debt. Net financing — new yuan bond issuances minus maturities — for the country’s local government financing vehicles, or LGFVs, turned negative in the fourth quarter of 2022 for the first time in at least four years, ...