Bloomberg Executives at banking giants including Goldman Sachs Group Inc. and Bank of America Corp. are struggling to return to Hong Kong after the city banned flights from eight countries, part of an outlier Covid Zero strategy that’s threatening its appeal as financial hub. At least a dozen Hong Kong-based managing directors at banks, also including Morgan Stanley and …

  Bloomberg Canadian banks are bringing forward their forecasts for interest rate hikes to as early as next week, amid growing evidence the economy is hitting limits and inflation pressures are rising. Economists at TD Securities and Laurentian Bank said the Bank of Canada will start a hiking cycle at its policy decision on January 26. Bank of Montreal brought …

  Bloomberg Citigroup Inc is planning to exit retail-banking operations in Mexico — where it has its largest branch network in the world — as part of CEO Jane Fraser’s continued push to overhaul the firm’s strategy. The lender will keep its institutional businesses in the country, according to a filing. The exit could ultimately take the form of a …

  Bloomberg Mitsubishi UFJ Financial Group Inc will start charging new customers for a bank passbook, joining other Japanese lenders that are pushing clients to kick the 150-year-old habit for the sake of the environment. The country’s largest bank will require new clients to pay 550 yen ($4.83) a year for a passbook, encouraging them to embrace digital services, people …

  Bloomberg Jefferies Financial Group Inc strategists turned bullish on Chinese stocks, saying they’re due for a rebound after getting hammered by a year of regulatory crackdowns and a slowing economy. After being underweight on Chinese equities for most of 2021, “the case for a mean-reversion led bounce is building,” Jefferies strategists including Desh Peramunetilleke wrote in a January 17 …

  Bloomberg Most stocks fall on Tuesday amid a jump in global bond yields as investors girded for the removal of central bank support to quell high inflation. Europe’s Stoxx 600 Index declined, with energy the only sector to advance. US equity futures slipped before the market reopens later from a holiday. Asian shares struggled. Treasuries dropped across the curve, …

  Bloomberg European natural gas prices fell, tracking Asian contracts lower, while Russia offered little clarity on volumes it plans to send to the continent next month. Gas giant Gazprom PJSC again opted not to book any extra pipeline space to ship the fuel westward through Ukraine during a monthly auction on Monday. In addition, Russia didn’t book any capacity …

  Bloomberg Power prices for Monday evening in the UK surged to the highest in a month as supplies are poised to drop with very little wind forecast. The contract for the hour through 6 p.m. London time jumped to $1,589 a megawatt-hour, the highest since December 16 on the N2EX exchange. At the same time, wind output is forecast …

  Bloomberg US aviation regulators granted approvals that will allow some jetliners to operate within zones where new 5G wireless services are set to begin Wednesday, significantly reducing the potential impact on flight schedules. The Federal Aviation Administration said airline manufacturers had shown that the mobile-phone signals won’t cause interference with critical aircraft equipment on certain Airbus SE and Boeing …

  Bloomberg A new Hong Kong-based airline with ties to Beijing is considering ordering up to 30 narrow-body jets from either Boeing Co or Airbus SE as it tries to establish itself in a market dominated by Cathay Pacific Airways Ltd. Greater Bay Airlines, which is awaiting final approval to operate commercial passenger flights out of Hong Kong, is assessing …