Bloomberg President Donald Trump wants a weaker dollar to help boost exports, and is counting on the Federal Reserve to help make that happen. But the central bank’s chairman, Jerome Powell, has made clear it’s not his job. It’s a new twist in the broader pressure campaign the president has brought to bear on Powell to cut interest rates to ...

Bloomberg The People’s Bank of China (PBOC) has asked commercial lenders not to lower the interest rate of home mortgages from the current level in order to curb the growth of home loans, according to sources. The PBOC offered verbal guidance to state-owned ban-ks, joint stock banks and other commercial lenders, the people said, asking not to be identified as ...

Bloomberg Singapore will issue as many as five new digital bank licenses to non-bank firms as the island nation seeks to strengthen competition in financial services, according to one of its top regulators. “We welcome firms with innovative value propositions to apply for the new digital bank licenses, even if they have not yet established a track record in banking,” ...

Bloomberg Axis Bank Ltd. is considering raising at least $1.3 billion through a share sale to institutional investors, people with knowledge of the matter said, as the Indian lender seeks to bolster capital ratios and expand lending capacity. India’s third-largest private sector lender, led by Chief Executive Officer Amitabh Chaudhry, is talking to potential advisers about the fundraising, according to ...

Bloomberg Deutsche Bank AG is preparing to start cutting hundreds of jobs in its global equity division, the first major cuts in a broader restructuring after a potential merger with Commerzbank AG collapsed. The German lender is set to finalise a plan that may eliminate positions in equities trading and research, as well as derivatives trading, the people said, asking ...

Bloomberg Bank of America Corp (BofA) the second-biggest US bank, will stop lending to companies that run private prisons and detention centers. “We have decided to exit the relationship’’ with companies that provide prison and immigration-detention services, Vice Chairman Anne Finucane said in an interview. “We’ve done our due diligence that we said we would do at the annual meeting, ...

Bloomberg Pilots flying Boeing aircraft in recent years have reported flight-control problems they blamed on malfunctioning software — not on the company’s maligned 737 Max jets, but widely used earlier versions of the plane that are still in the air. Commercial pilots flying Boeing’s NG, or “Next Generation,” models have registered concerns on a variety of computer problems through the ...

Bloomberg PepsiCo Inc, facing an industry wide backlash against plastic, will experiment with putting its Aquafina water in cans. The beverage giant will begin selling the cans next year, offering them to partners such as stadiums and restaurants, PepsiCo said. The company also will try out the repackaged product at some retail stores. If the new packaging catches on, it ...

Bloomberg Almost 200 airports run by 40 operators backed a pledge for net-zero carbon emissions at European hubs by 2050 as the aviation industry responds to pressure over its contribution to climate change. Airports Council International also called for the sector to develop additional measures to those set by the Carbon Offsetting and Reduction Scheme for International Aviation. CORSIA has ...

Bloomberg Steinhoff International Holdings NV is seeking more than 850 million rand ($59 million) from former Chief Executive Officer Markus Jooste for his role in the accounting crisis that triggered the global retailer’s near-collapse. The owner of Poundland in the UK and Pep stores throughout Africa is looking to claw back base salaries, bonuses and other incentives paid to Jooste ...