Bloomberg UBS Group AG Chief Financial Officer Kirt Gardner said the 1.1 billion euros ($1.24 billion) set aside to cover the cost of a French tax-evasion case are the bank’s “best estimate” of the final cost. The Swiss lender is counting on a further reduction of the French penalties after they were cut in December to 1.8 billion euros …

  Bloomberg Toronto-Dominion Bank’s US retail-banking unit is eliminating charges for overdrafts of $50 or less, joining a parade of lenders revamping their fees amid criticism from politicians, regulators and consumer advocates. TD Bank also is giving customers who overdraw their accounts by more than that amount 24 hours to fix the issue before incurring a fee, the unit of …

  Bloomberg Banco Santander SA pledged to increase profitability and shareholder payouts as rising interest rates in key markets from the Americas to Europe are set to boost income from lending at the Spanish retail banking behemoth. The bank also signalled it has done strengthening capital buffers after rebounding from steep losses two years ago at the onset of the …

  Bloomberg Global stocks headed for the biggest four-day rally since November 2020 as companies from the US to Europe reported better-than-forecast earnings and dip-buying returned to technology shares. Futures on the Nasdaq 100 Index jumped 1.1%, while those on the S&P 500 added 0.4%. Europe’s Stoxx 600 Index traded above its 50-day moving average for the first time since …

  Bloomberg Bitcoin slipped back on Wednesday after touching a near two-week high, spotlighting the token’s struggle to vault a key technical hurdle and reclaim the $40,000 level. The world’s largest cryptocurrency retreated about 1.3% to $38,300 as of 3:40 pm in Singapore, after touching $39,267 a day earlier. Ether, the second-largest coin, falls some 1.5%. A Bitcoin price trendline …

  Bloomberg Four countries asked the European Union to reverse a plan to make some natural gas projects eligible for its coveted green label in a last-minute plea, highlighting divisions about how to manage the energy transition. In a letter sent to the European Commission, the Netherlands, Austria, Sweden and Denmark argued there’s a lack of scientific evidence to include …

  Bloomberg The Indonesian government has lifted a ban on coal exports, ending uncertainty that sent the price of the fuel to this year’s highest level. The ban was lifted on improving supply for local power plants, according to a statement published by Energy and Mineral Resources Ministry on its website on Tuesday. Coal exporters that have met the domestic …

Bloomberg Boeing Co dropped as the planemaker recorded $5.5 billion in total costs for the 787 Dreamliner, wiping away any near-term profit for the marquee wide-body jet. The charges also overshadowed some rare good news. The aviation titan surprised Wall Street by generating cash for the first time since early 2019: $494 million in free cash flow in the fourth …

  Bloomberg Joules Group Plc shares plummeted after the British retailer joined a growing list of companies to warn that supply chain issues and Covid infections are hurting earnings. The stock dropped 41% in early trading in London Tuesday, the most on record. The company has faced stock delays, rising freight costs and fewer customers visits to stores due to …

  Bloomberg The Bank of England (BOE), one of the first movers in what looks set to be a rapid global tightening of monetary policy, this week will give a big clue about how far and fast it will move in combating inflation. Policy makers led by Governor Andrew Bailey are expected to hike interest rates to 0.5% on Thursday, …