Bloomberg China’s dominance of global trade provides a path to increase its currency’s share in global central bank reserves even if it retains tight capital controls, but Beijing will need to maintain large dollar reserves for that to happen, according to new research. While the yuan isn’t on course to displace the dollar as the world’s dominant currency, it ...

Bloomberg David Russell, a senior Morgan Stanley trading executive, who helped lead the firm’s equities business to the top of the pack on Wall Street, is leaving the firm. Russell, who joined the bank in 1990 and has been co-head of the unit since 2018, will retire at the end of the year, according to an internal memo. His fellow ...

  Bloomberg Stocks and US futures were mixed on Tuesday amid caution in global markets ahead of the Federal Reserve interest-rate hike. European energy and mining stocks rallied with oil and metals, while retailers and banks fell after disappointing reports from Walmart Inc and UBS Group AG. The Stoxx 600 fluctuated as S&P 500 and Nasdaq 100 futures slipped. Stocks ...