Bloomberg A veteran banker at Kotak Mahindra Bank Ltd said that strains in India’s bond market are at the highest she’s seen in her two-decade career. The flood of cash that the Reserve Bank of India (RBI) has pumped into the market amid the pandemic has headed into shorter notes with top ratings, while there’s little demand for weaker credit ...

Bloomberg Royal Bank of Canada (RBC) is shaking up its senior ranks, promoting Nadine Ahn to chief financial officer (CFO) and expanding the portfolio of personal and commercial banking head Neil McLaughlin. Ahn currently head of investor relations and finance chief for the capital markets division, will take over as CFO on November 1, the Toronto-based company said in a ...

Bloomberg European Central Bank (ECB) policy makers signalled they see euro-area inflation potentially exceeding forecasts as economy recovers and supply bottlenecks drive up input prices. The comments by three Governing Council members point to a more heated debate about the central bank’s current ultra-loose policy, with the pandemic-era bond-buying program set to expire by March next year. Their remarks will ...

Bloomberg Nigeria’s central bank left its key interest rate unchanged to support an economy that expanded at a slower pace than expected in second quarter. All 10 members of the monetary policy committee who attended its two-day meeting voted to keep the rate at 11.5% for the sixth straight meeting, Governor Godwin Emefiele said in a virtual briefing from the ...

Bloomberg Let the iPhone 13 price wars begin. With the debut of Apple Inc’s newest phones, AT&T Inc embarked on a second year of giveaways, offering the new iPhone 13 Pro free to new and existing customers who have qualifying trade-ins and unlimited data plans, a deal worth as much as $1,000. T-Mobile US Inc is matching the iPhone 13 ...

Bloomberg TikTok, the video-sharing app owned by China’s ByteDance Ltd, said it’s stepping up tools to support users facing mental health issues, including redirecting potentially distressed users to suicide-prevention or eating-disorder resources. When users search the app for terms like “suicide,” TikTok will point them to local support organisations such as the Crisis Text Line to find treatment, the company ...

Bloomberg Japan is bolstering its autonomous driving ambitions with a new project to be formally introduced on Wednesday to expand the use of self-driving vehicles in more than 40 locations around the country by 2025. The “Road to the L4” project aims to popularise advanced mobility services including Level 4 autonomous driving, wherein vehicles can operate without a human at ...

Bloomberg General Motors shares jumped after company said it expects to be reimbursed for battery recall costs from its supplier and sees a “more stable year” for chip supply in 2022. GM is in talks with battery supplier LG Chem over the costs of its Bolt electric vehicle battery recall, which has resulted in a $1.8 billion charge. The company ...

Bloomberg Global debt loads surged during the second quarter as households seized on low mortgage rates and governments continued borrowing heavily to revive pandemic-battered economies. The amount of the world’s outstanding debt swelled during the three months by about $4.8 trillion to a record $296 trillion, according to a report by the Institute of International Finance. The increase was led ...

ABU DHABI/ WAM In his capacity as Ruler of Abu Dhabi, President HH Sheikh Khalifa bin Zayed Al Nahyan, issued a law establishing the Creative Media Authority as part of the Department of Culture and Tourism – Abu Dhabi. The authority aims to enhance growth of emirate’s creative sector and will act as a regulatory and supervisory body, ensuring hard ...