Bloomberg Wells Fargo & Co., Bank of America Corp., JPMorgan Chase & Co. and US Bancorp were sued by small businesses that accused the lenders of prioritising large loans distributed as part of the virus rescue package, shutting out the smallest firms that sought money. The four banks processed applications for the largest loan amounts because they generated the highest …

Bloomberg India’s central bank has a number of policy options to draw upon to cushion the economic blow from Covid-19 pandemic. With a limited fiscal response so far, the Reserve Bank of India has taken the lead in providing virus relief to the economy. It’s cut interest rates by 75 basis points, injected more than $50 billion of liquidity into …

Bloomberg Ping An Bank Co., the lending arm of China’s largest insurer, kicked off the earnings season for Chinese banks with better-than-estimated profit growth after ramping up loans to corporates even as the virus outbreak grounded the economy and led to a surge in personal defaults. Net income rose 14.8% to 8.5 billion yuan ($1.2 billion) in the first quarter, …