Bloomberg Nigerian lenders cut the dollar spending limits on local currency cards to free more resources to fund imports after the central bank signaled it will stop foreign-exchange sales to banks. United Bank for Africa Plc stopped the use of naira card to withdraw dollars from automated teller machines outside the country or make international payments at point of ...

  Bloomberg Telecom giants Orange SA and Masmovil Ibercom SA are seeking to line up a debt package of up to 6 billion euros ($6.6 billion) to back a joint venture, creating one of the largest leveraged debt financings in the region, people familiar with the matter said. Orange and Masmovil entered into exclusive negotiations on March 8 to combine ...

Bloomberg JPMorgan Chase & Co joined Goldman Sachs Group Inc in pulling back from Russia in response to the country’s invasion of Ukraine last month. JPMorgan, the biggest US bank, is currently engaging in limited activities in the country, the New York-based company said in a statement. Goldman Sachs said it plans to close its operations there. The finance-industry titans ...

  Bloomberg New Zealand banks are calling on the Reserve Bank to delay implementation of new mortgage lending restrictions such as debt-to-income ratios as the housing market cools. Existing restrictions and rising interest rates are already slowing home-lending growth, and banks are concerned the introduction of further limits could have “unintended consequences,” the New Zealand Bankers Association said in a ...

  Bloomberg US stock-index futures advanced as investors eyed cheaper valuations even as they remained concerned about global growth amid a raging war in Ukraine and an impending rate-hike cycle at the Federal Reserve. Contracts on the S&P 500 and Nasdaq 100 indexes added 0.5% each, after swinging between gains and losses at least six times. Europe’s Stoxx 600 gauge ...

  Bloomberg European stocks headed for their first weekly gain since the start of the Ukraine war as investors mulled central bank policy decisions and the outlook for economic growth. The Stoxx 600 Index was up 0.9% in London after briefly falling as much as 0.2% as Russia’s invasion of Ukraine caused continued volatility. Travel and leisure and mining stocks ...

  Bloomberg Citigroup Inc, in the midst of overhauling its businesses in Russia when the country went to war, has seen efforts to sell a consumer-banking unit there stall and is helping some employees transfer abroad. The moves show how Vladimir Putin’s invasion of Ukraine has quickly made the future less certain for many of Citigroup’s roughly 3,000 workers in ...

  Bloomberg Equity-index futures and European stocks fell amid concern US inflation may have accelerated for a sixth month, with investors turning to the European Central Bank to gauge policy makers’ response to the war in Ukraine. Contracts expiring this month on the S&P 500 and Nasdaq 100 indexes slid at least 0.2% each after US stocks posted the biggest ...

  Bloomberg Bitcoin dropped back below $40,000, erasing almost all the gains sparked by optimism about US President Joe Biden’s executive order to put more focus on the crypto sector. The largest cryptocurrency declined as much as 7.2% to $38,894, falling for the first time in three days. Ether dropped as much as 5% to $2,574. Most of the top ...

  Bloomberg Gold extended losses after posting the biggest decline in 14 months as risk sentiment improved following indications that Ukraine is ready for a diplomatic solution with Russia. Bullion is paring some of its gains this year as demand for haven assets eases following remarks from a top foreign policy aide to President Volodymyr Zelenskiy. The official said Ukraine ...