Bloomberg The Federal Reserve is preparing to deliver what the market expects to be the first of multiple interest-rate cuts. The others are sure to follow if policy makers can’t break what’s starting to look like a vicious circle. The Fed isn’t simply bending to the market’s will with this cut: It highlighted the risks of weak inflation and global …

Bloomberg Morgan Stanley, the biggest stock-trading shop on Wall Street, is losing some of its lead. The company posted a 14 percent drop in equities-trading revenue, the steepest decline among major US banks, as it cited lower client balances in its prime-brokerage business. While the firm had a surprise jump in wealth-management fees, the trading slump caused overall revenue to …

Bloomberg Nordea Bank Abp said the pressure of negative interest rates and a tougher regulatory environment will force it to review its financial targets this year after delivering a set of quarterly results it characterised as “not satisfactory.” The environment has changed, “with expected lower rates for longer,” Nordea said. On top of that, management is awaiting “more clarity on …