Bloomberg The first of Hong Kong’s new generation of digital banks has announced its arrival with a 6% introductory rate for deposits. ZA Bank Ltd, one of eight firms preparing to start digital-only banks in Hong Kong, has begun a trial run that pays a select group of depositors over 3 percentage points more than banks such as HSBC Holdings …

Bloomberg At Danske Bank A/S, the cost of adapting to a world intensely focused on financial crime just keeps growing. In an interview in Stockholm, the chief executive of Danske in Sweden, Johanna Norberg, said “the peak” level of investment to meet anti-money laundering requirements has “not yet been reached.” The 48-year-old has been running Danske’s operations in the biggest …

Bloomberg Expectations of global growth and particularly in emerging markets mean this year is likely to be positive for commodities but with a number of wild cards, according to Citigroup Inc. The US and China, which hold outsized sway over the world’s economic fortunes, both may have policies that skew towards higher global growth, strategists led by global head of …

Bloomberg Should banks be forced to accept a client who could be on the wrong side of the law? A court in Finland is about to decide the answer to that question, and its verdict may have far-reaching implications. Russian billionaire Boris Rotenberg is suing four Nordic banks for not doing business with him. The oligarch, an associate of President …

Bloomberg Bank of England (BOE) policy makers considering whether the UK needs further stimulus will get a deluge of data in the coming week. The economy is back under the microscope after outgoing Governor Mark Carney last week said officials are debating the merits of action and have plenty of room to act if necessary. A day later, Silvana Tenreyro …

Bloomberg China’s fiscal stimulus is shifting back to a focus on infrastructure investment, away from the approach of cutting taxes for businesses the government favored in previous years, according to economists at JPMorgan Chase & Co. “We expect no major further tax cuts in 2020, though the effect of tax cuts will linger into this year,” JPMorgan economists including Zhu …

Bloomberg Corporate profits likely dropped for a second straight quarter at the end of 2019, dragging down annual earnings growth to the smallest in three years. A lot of investors are fine with that. Put it down to the nature of the stock market, where returns tend to anticipate changes in earnings growth. As the S&P 500 notches records, investors …

Bloomberg India’s rupee will likely beat most Asian peers this year, according to Rabobank, in contrast with other top forecasters who expect the currency to continue trailing. The worst of the country’s economic slowdown has passed and the authorities are unlikely to use currency depreciation as a measure to revive growth, said Hugo Erken, head of international economics at the …

Bloomberg Boeing Co employees expressed alarm with the 737 Max and the flight simulators used to train pilots on the new jetliner while also mocking senior managers and regulators, in a trove of messages released by the manufacturer. “This airplane is designed by clowns, who in turn are supervised by monkeys,” said one company pilot in messages to a colleague …

Bloomberg A massive winter storm is grounding flights in Chicago, whipping up tornadoes and hail across the South, and will likely push record January warmth into New York, Washington and the entire East Coast over the weekend. At least seven people have died, including three in Alabama, as the storm swept across the southern states, AP reported. The eastern US …