Bloomberg HSBC has agreed to sell its Russian unit to local lender Expobank, the latest international bank to exit the country following its invasion of Ukraine. The London-based firm said in a statement that it had reached a deal without disclosing the transaction amount. Bloomberg reported this month that talks on a sale of the business to Expobank were …

  Bloomberg Bank of America Corp (BofA) posted an increase in net interest income with the lender reaping the benefits of Federal Reserve rate hikes, while second-quarter results were hurt by higher expenses related to regulatory settlements. Net interest income, a key source of revenue for the bank, rose 22% to $12.4 billion in the second quarter on higher rates …

  Bloomberg Facebook parent Meta Platforms Inc is changing the way it shows users posts and videos on its flagship social network, part of an effort to get people to watch content from accounts they don’t already follow and better compete with the video app TikTok. The main feed on Facebook will now be called “Home,” and will be a …