Bloomberg Credit Suisse Group AG said it agreed to recommend its hedge fund clients move to BNP Paribas SA after the Swiss bank decided to get out of that business. The referral agreement announced on Monday is part of Credit Suisse’s exit from the prime brokerage unit that lost billions in the collapse of Archegos Capital Management. Moving capital from …

Bloomberg Elon Musk’s social media followers have spoken: The Tesla Inc chief should sell 10% of his stake in the electric-car maker. A majority of 3.5 million Twitter users — 58% — said they’d support such a sale in a Twitter poll that Musk ran during the weekend. The stake would be valued at about $21 billion based on 170.5 …

Bloomberg The beginning of the end of cheap money was heralded as the moment emerging-market stocks would reverse a decade spent in the shadow of their developed-nation peers. It’s turning out to be anything but. After a three-week rally in October that briefly raised hopes of a comeback, the benchmark gauge for the group has sunk back, reaching a 20-year …

Bloomberg China posted a record monthly trade surplus in October as exports surged despite global supply-chain disruptions. Exports rise 27.1% in dollar terms last month from a year earlier to $300.2 billion, data from the General Administration of Customs showed on Sunday. That was the 13th straight month of double digit growth, and exceeded economists’ expectations of a 22.8% gain. …

Bloomberg The Reserve Bank of Australia (RBA) struck an upbeat note on the economy, while maintaining that faster wages growth and inflation will take some time and the first interest-rate increase is unlikely before 2024. The economy will expand 3% this year, despite a likely sharp contraction in the third quarter due to virus lockdowns, and then accelerate to 5.5% …

Bloomberg HSBC Holdings Plc asked all of its Hong Kong staff to get vaccinated against the Covid virus after city authorities issued a new circular to push for higher inoculation rates. Colleagues who have not received a first dose should either get inoculated by November 30 or submit to a Covid-19 test every 14 days, the London-based bank, which counts …

Bloomberg China’s fiscal policy will provide the main support to economic growth next year while significant monetary easing is unlikely, according to a former adviser to China’s central bank. “The economy overall really is still okay and we will see average growth this year at around 8%,” Huang Yiping, a former member of the People’s Bank of China’s monetary policy …

Bloomberg Bank Indonesia expects a stronger rupiah as investors have priced in the US Federal Reserve’s plan to taper asset purchases. “The rupiah is estimated to remain in a strengthening trend in line with strong economic fundamentals and positive investor perception that support inflows to domestic financial assets,” Hariyadi Ramelan, Bank Indonesia’s executive director for monetary management, told Bloomberg. The …

Bloomberg IndusInd Bank Ltd, backed by the billionaire Hinduja brothers, denied allegations that its unit was providing new loans to customers to keep their existing debt from souring, a practice known as “evergreening.” The bad loan recognition process is fully automated in accordance with the regulatory norms, the bank said in an exchange filing. It was responding to a media …

Bloomberg Argentina’s peso rises in the spot market for first time in 12 months after central bank ordered financial institutions to maintain their foreign currency holdings steady through to the end of the month, forcing some to sell dollars. The peso strengthened 0.02% to 99.94 to the dollar, even as central bank bought $210 million, the most greenbacks it has …