Bloomberg Credit Suisse Group AG expects to book a $450 million impairment on its stake in York Capital Management as the US firm winds down most of its hedge-fund strategies, the latest blow for the bank after a series of setbacks this year. The charge, which could still change, will be booked in the fourth quarter in the asset management …

Bloomberg Access Bank Plc, Nigeria’s biggest lender, plans to more than double customer numbers over the next three years by expanding in the rest of Africa. The Lagos-based lender is creating a holding company structure that will enable it to diversify into other financial services separately from the banking business. Access Bank, which has plans to be present in 22 …

Bloomberg Global stocks advanced for a second day as investors cheered the start of US President-elect Joe Biden’s formal transition. The dollar extended its decline to the lowest since 2018. Energy stocks led the Stoxx 600 Index higher, with travel companies and banks also notching gains in a broad advance. Haven assets were weaker, with gold, Treasuries and the dollar …

Bloomberg Foreign investors are piling money into major Asian equity markets outside of China at the fastest pace in seven years this quarter, as vaccine successes add to the global risk-on mood. Nine regional stock markets have lured a combined about $48 billion since October 1, the most since the fourth quarter of 2013, according to data compiled by Bloomberg. …

Bloomberg Gold fell to a four-month low as growing optimism over a coronavirus vaccine and signs of a increasing momentum in US economic growth stifled demand for the metal as a haven. Bullion extended last week’s loss after AstraZeneca Plc said its vaccine prevented most people from developing Covid-19, marking another promising development in the quest to end the pandemic. …

Bloomberg Oil touched its strongest level since early September as signs that Covid-19 vaccinations in the US could be underway within three weeks improved the demand outlook. Markets broadly rallied after AstraZeneca Plc became the latest company to report a vaccine that protects most people from coronavirus. Vaccinations will “hopefully” start as soon as December 11 or December 12, Moncef …

Bloomberg The UK energy regulator is proposing an increase to its energy price cap to help utilities cope with additional costs from customer bad debts brought on by the pandemic. Workers have lost jobs, been furloughed, or are working from home, increasing domestic energy use and some customers are struggling to pay their bills, Ofgem said in a consultation document. …

Bloomberg It’s not just Boeing Co’s 737 Max that needed repairs. The US Federal Aviation Administration (FAA), which approved what officials acknowledge was a flawed design implicated in two deadly crashes of the jetliner, found itself facing criticism from regulators around the world — a stunning turnabout for an organisation accustomed to global deference. In the wake of the disasters, …

Bloomberg Amazon.com Inc and other major retailers in France agreed to postpone Black Friday amid an outcry from smaller rivals, which have been campaigning to re-open physical stores before the promotional event. Amazon and traditional retailers, including Galeries Lafayette department stores, agreed to postpone the shopping holiday from November 27 to December 4. All non-essential stores in France have been …

Bloomberg American Airlines Group Inc is stepping back from fees of as much as $750 to change tickets for international travel, largely abandoning a widely loathed charge as the company rushes to lure passengers back to its long-distance flights. Change fees will cease on flights originating in North or South America for all but the cheapest “basic economy” fares, American …