Bloomberg Bank of America Corp (BofA) reported its highest quarterly net interest income (NII) in at least a decade as the lender reaps the benefits of the Federal Reserve’s interest-rate hikes, and debt traders beat analysts’ estimates. NII, a key source of revenue for the bank, rises 24% to $13.8 billion in the third quarter on higher rates and loan ...

  Bloomberg Global investors slashed allocations to UK equities in the month after Liz Truss became prime minister, a Bank of America Corp. (BofA) survey showed. Exposure to British stocks “collapsed,” with allocations dropping by nine percentage points compared with the previous month, according to BofA’s global fund manager survey in October. A net 33% of investors are now underweight UK ...

Bloomberg The yen took a further step towards the closely watched 150 per dollar level, keeping investors on high alert for possible intervention to support the currency. In volatile trade, Japan’s currency falls to as low as 149.29 yen in morning trading in London, its lowest since 1990, before bouncing back quickly. The move came after the country’s prime minister ...