Bloomberg Wells Fargo & Co. posted higher-than-expected fourth-quarter expenses, even after the firm warned of a hefty loss tied to a regulatory sanction last month. The firm spent $16.2 billion in the last three months of 2022, according to a statement, exceeding analyst estimates. That included $3.3 billion in operating losses after Wells Fargo said last month it would …

  Bloomberg Credit Suisse is planning to cut more than 10% of its European investment bankers this year, adding to hundreds of job losses in London and Zurich, the Financial Times newspaper reported. The bank has been reducing headcount across its divisions after announcing plans to reduce 9,000 roles globally by 2025 last year. The further cuts come after the …

  Bloomberg Bangladesh’s central bank raised the benchmark rate by 25 basis points to contain inflation that’s hovering near the highest level in a decade. The benchmark repurchase rate was increased to 6% from 5.75% effective from Monday, Bangladesh Bank said in a statement on Sunday. The reverse repo rate will climb to 4.25%, it said. The central bank said …