BLOOMBERG The European Central Bank (ECB) should either delay or pare back this week’s planned interest-rate increase to avoid a policy error reminiscent of 2011, former Executive Board member Lorenzo Bini Smaghi told Boersen-Zeitung. The German newspaper published an interview with the Italian, the eve of a decision for which a half-point hike has been described by President Christine Lagarde …

BLOOMBERG Bank of America Corp (BofA) mopped up more than $15 billion in new deposits in a matter of days, emerging as one of the big winners after the collapse of three smaller banks dented confidence in the safety of regional lenders. The inflows offer a first glimpse into the deluge of deposits that made its way to the country’s …

BLOOMBERG HSBC Holdings Plc is cutting the base pay it offers some newly-promoted senior investment bankers in the UK by a quarter, ahead of a rule change that would allow higher bonuses. In some areas, new managing directors are now typically offered a salary of about £225,000 ($273,380), compared to £300,000 paid to bankers that already hold the same position, …