Bloomberg The Czech Finance Ministry told the country’s largest banks it plans to impose a windfall tax on them to fund energy subsidies, according to a summary of the meeting. The government would apply a tax rate of 60% on lenders’ extraordinary profit, seeking to raise about 25 billion koruna ($1 billion) a year, according to a note summarising ...

  Bloomberg New Zealand’s central bank is poised to raise interest rates by half a percentage point for a fifth straight time, and some economists are tipping it will need to keep tightening well into next year as an aggressive Federal Reserve weakens the kiwi dollar. The Reserve Bank will lift the Official Cash Rate to 3.5% from 3% in ...

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) named Chief Risk Officer Shawn Beber as the new head of its US division and tapped Susan Rimmer to lead the company’s global corporate and investment banking franchise. Current US chief Mike Capatides will take over as the bank’s vice chair in the country when the changes become effective on November 1, ...