Bloomberg UK supermarket chain Iceland cuts vegetable prices to 1 penny per pack in a bid to woo shoppers squeezed by the rising cost of living. The company is cutting prices in the runup to the Easter holiday, it said in an emailed statement, and the online offer quickly became popular. Customers can buy any of the more than …

  Bloomberg E-commerce startup FirstCry.com is planning to file for an initial public offering in Mumbai as soon as this month that could raise about $700 million, according to people familiar with the matter. The online baby product marketplace is seeking a valuation of at least $6 billion, said the people, who asked not to be identified as the information …

  Bloomberg India’s central bank would have to gradually hike the benchmark interest rate to its highest in three years as it battles to curb inflation that’s hovering above its targeted range, economists said. The Reserve Bank of India (RBI) might change its stance to neutral from accommodative in the June policy, topping it up with a 25 basis points …

  Bloomberg The Bank of Canada is poised to become the first in the Group of Seven to hike interest rates by a half-percentage point as it moves more aggressively to wrestle inflation down from a three-decade high. Governor Tiff Macklem is expected to raise the central bank’s policy rate to 1%, followed by a series of additional hikes that …

  Bloomberg India is rolling out the world’s shortest equity trade-settlement cycle. A pain-free transition for foreign investors would spur others to follow, according to Deutsche Bank AG, the largest custodian bank in the country. Higher currency transaction costs and the risk of operational delays are among concerns that have been flagged as the nation’s exchanges leapfrog peers in New …

  Bloomberg China’s central bank is expected to cut its key policy interest rate for the second time this year on Friday and reduce the reserve requirement ratio within days to help bolster a faltering economy under strain from Covid lockdowns. Sixteen of the 22 economists surveyed by Bloomberg predict the People’s Bank of China will lower the interest rate …

  Bloomberg JPMorgan Chase & Co.’s top executive at its securities business in China, Houston Huang, is stepping aside and is being replaced by his deputy as the Wall Street bank ramps up to tackle slowing growth in world’s second-biggest economy. Huang will hand over the role of chief executive officer of JPMorgan Securities (China) Co. to Lu Fang, a …

  Bloomberg Credit Suisse Group AG has formed a new committee to assess its involvement in blank check-firm mergers as underwriters face the prospect of heightened liability under proposed financial regulations, according to a person with knowledge of the matter. The Swiss lender told staff in a memo that the “tactical deSPAC committee” will focus on pending mergers involving US …

  Bloomberg Inflation is surging, central banks are on the move and now it’s earnings season. To top it all off, stock traders face the market-roiling potential of a monthly options expiration estimated at more than $2 trillion. Roughly $495 billion in single-stock derivatives are set to expire, with another $980 billion of S&P 500-linked contracts and $170 billion in …

  Bloomberg Bitcoin climbed above $41,000, advancing along with equities after China indicated it’s about to loosen monetary policy. The largest cryptocurrency rose as much as 0.6% to $41,500 on Thursday, gaining for a second day. Katie Stockton, co-founder of Fairlead Strategies LLC, said technical indicators she follows suggest Bitcoin could be due for a short-term bounce to as high …