Bloomberg Bank of America Corp (BofA) awarded Chief Executive Officer Brian Moynihan $26.5 million for 2019, unchanged from a record amount a year earlier. Moynihan, 60, received $25 million in stock grants and a $1.5 million salary, the bank said in a filing. While he hasn’t received a cash bonus since 2007, part of his stock award will settle in ...

Bloomberg Australia’s central bank chief Philip Lowe signalled his board is firmly on hold for now, saying further cuts to the nation’s already historically-low interest rate risk doing more long-term damage to the economy than the short-term benefit they would create. “While it’s plausible that we can move towards our goals, at least right at the moment the risks have ...

Bloomberg Philippine central bank Governor Benjamin Diokno said he anticipates the next interest-rate cut will probably come around the middle of this year. The bank will remain “data-dependent,” but still has monetary policy space to ease after it lowered interest rates for the fourth time in a year, Diokno said in an interview with Bloomberg TV’s Haidi Lun. Bangko Sentral ...

Bloomberg Passengers stuck on a cruise ship being quarantined in Hong Kong are beginning to worry that lax controls on the boat and a lack of information puts them at risk of being exposed to the deadly coronavirus. “We are in quarantine, but everyone is still walking around,” Edgar Chan, 28, said using WhatsApp. The software engineer, his sister and ...

Bloomberg Toyota Motor Corp and Honda Motor Co were among carmakers extending shutdowns at their China plants as the country steps up measures to fight the deadly coronavirus. Toyota, which initially halted its Chinese plants until February 9, said it now plans to resume production as soon as February 17. Honda said it will reopen its factory on February 14 ...

Bloomberg Vodafone Group Plc and Cairn Energy Plc are eligible to settle a tax dispute with India’s government under a new amnesty programme, a senior government official said. The companies will need to pay their taxes by March to benefit from the interest and penalty waivers under the programme, Pramod Chandra Mody, chairman of the Central Board of Direct Taxes, ...

Bloomberg More so than anywhere else, automakers are chasing the holy grail of electric mobility in India: a lower price. Mahindra & Mahindra Ltd’s launch of its e-KUV at a price of 825,000 rupees ($11, 587), compared to its next cleanest option — a mid-range petrol variant at 650,000 rupees — highlights the challenge of pricing electric cars that can ...

Bloomberg The brother of Asia’s richest man was ordered to set aside $100 million in his dispute with three Chinese banks, even as he pleaded poverty. “The value of my investments has collapsed,” Anil Ambani said, according to a London court filing by banks seeking around $700 million in defaulted loans. “My net worth is zero after taking into account ...

Bloomberg Singapore authorities urged residents to relax on their shopping sprees that have emptied supermarket shelves, saying supplies aren’t under threat even as response efforts to battle the coronavirus outbreak have escalated. Pictures circulated online of snaking lines at supermarkets as people snapped up rice, instant noodles, toilet paper and sanitisation products. Online grocers including Amazon.com Inc and Redmart Ltd ...

Bloomberg The Justice Department has abandoned its antitrust probe of four automakers that sided with California over President Donald Trump in a fight over the future of fuel economy and emissions requirements. The inquiry had targeted Ford Motor Co, Honda Motor Co, BMW AG and Volkswagen AG over their agreement last year with California regulators to voluntarily meet the state’s ...