Bloomberg Iceland’s central bank raised borrowing costs to a six-year high and indicated more tightening to come, as it seeks to dampen housing market exuberance that has taken inflation to the highest level in more than a decade. The 7-day term deposit rate was raised by 75 basis points to 5.5%, in line with market expectations. It’s Sedlabanki’s eighth hike …

Bloomberg India’s government is considering selling at least 51% of state-backed IDBI Bank Ltd., according to people with knowledge of the matter. Officials in the government and the state-backed Life Insurance Corp of India (LIC), which together own about 94% of IDBI Bank’s shares, are in talks about how much of their stakes they plan to sell, the people said. …

  Bloomberg Bank of America Corp (BofA) said it hired 2,600 military veterans this year on top of a five-year goal to add 10,000. The additions mean a 24% increase in representation of veterans at the bank, according to a memo to staff seen by Bloomberg News. The number of veterans at the company is now more than 15% of …

  Bloomberg Credit Suisse Group is shifting resources to win business from high-net-worth clients as the lender focuses more heavily on wealth management amid cuts to its troubled investment bank. The Swiss bank is reassigning advisers to its dedicated Private Banking International unit, led by Raffael Gasser, according to an internal memo seen by Bloomberg. The aim is to expand …

  Bloomberg US futures rise on Thursday as China’s massive stimulus steadied some nerves in the anxious wait for a key speech by Federal Reserve Chair Jerome Powell. Treasury yields and a dollar gauge dipped. Contracts on the S&P 500 and Nasdaq 100 pushed higher in the wake of positive closes for both gauges, though they came off session highs. …

Bloomberg The amount of bearish bets against Hong Kong stocks has risen to levels that could trigger a surge in share prices as traders rush to close out their positions, according to quantitative analysts at Morgan Stanley. Hedge funds and other short sellers say they’re either covering bearish wagers or planning to do so, strategist Gilbert Wong wrote in emailed …

  Bloomberg Singapore will start work on a fifth terminal at Changi Airport — regularly voted among the world’s best — with a revised design that allows it to adjust capacity during a pandemic. The move comes as the city-state works to cement its place as Asia’s primary aviation hub, with rival Hong Kong still imposing Covid quarantines and other …

  Bloomberg Kenya Airways Plc is looking to reduce jet-leasing costs by more than a third as the carrier targets break even by 2024. Negotiations with lessors has so far led to a 19% cut in overall rental costs, Chief Executive Officer Allan Kilavuka said on Wednesday during a virtual briefing. The move is part of a wider restructuring following …

  Bloomberg ExpressJet Airlines, a small regional carrier that was once among the world’s biggest by fleet size, filed for bankruptcy with plans to liquidate after ceasing operations. The company, based in Georgia, listed assets and liabilities of no more than $50 million each in its bankruptcy petition. ExpressJet laid off most of its workforce prior to filing for bankruptcy, …

  Bloomberg Nordstrom Inc, which investors saw as insulated by its affluent customer base, sank after trimming its full-year outlook as the retailer’s Rack business slows amid lower demand and inventory buildup. The department-store operator lowered its forecast for full-year sales to a range of 5% to 7%. That one-percentage-point cut comes just three months after Nordstrom had raised its …