Bloomberg Optimistic about a return to economic growth, fund managers have been slashing their cash positions and embracing risk assets to an extent that’s raising red flags for strategists at Bank of America Corp. (BofA). Money managers overseeing $534 billion in total are underweight cash for the first time since May 2013, with levels down to 4%, according to a …

Bloomberg JPMorgan Chase & Co. said Lee Raymond, the company’s longest-serving director, is resigning from the board. Raymond, the former Exxon Mobil Corp. boss who’s been on the board of the biggest US bank for more than three decades, notified JPMorgan of his intention to resign effective December 31, according to a regulatory filing. The decision was “not the result …

Bloomberg The Bank of Russia warned growing risks of higher inflation may leave no room for further monetary easing after it kept the key rate unchanged at a third consecutive policy meeting. The key rate was kept at 4.25%, the lowest level on record, after 200 basis points of cuts earlier this year. The central bank left the door open …