Bloomberg Colombia raised interest rates for the first time in five years, following in the footsteps of all the other major inflation-targeting economies in Latin America struggling to curb a surge in prices. The seven-member board voted to lift the benchmark rate by a quarter percentage point to 2% in a split decision, central bank Governor Leonardo Villar told reporters …

Bloomberg New Zealand’s central bank (RBNZ) is expected to embark on a series of interest-rate increases to tame inflation and rein in soaring house prices, even as a coronavirus outbreak that has now spread beyond Auckland poses a greater risk to economic growth. Reserve Bank policy makers will raise the official cash rate by a quarter percentage point to 0.5% …

Bloomberg China has urged financial institutions to help local governments stabilise the rapidly cooling housing market and ease mortgages for some homebuyers, another signal that authorities are worried about fallout from the debt crisis at China Evergrande Group. At a meeting chaired by central bank Governor Yi Gang, authorities told financial institutions to cooperate with governments “to jointly maintain the …

Bloomberg Hamza Lemssouguer, a former top debt trader at Credit Suisse Group, is raising hundreds of millions of dollars from Squarepoint Capital as he starts his own hedge fund. Lemssouguer, 31, known for amassing large, risky bets on corporations, will manage the money as part of a venture with London-based Squarepoint. The Moroccan-born trader, who hopes to attract other investors, …

Bloomberg Morgan Stanley is preparing to invest $1.36 million in five startups led by women or ethnic minorities in Europe, the Middle East and Africa, expanding a program that’s run for the past four years in the US. The Wall Street bank aims to help groups that often struggle to find seed capital. According to Morgan Stanley, less than 3% …

Bloomberg The global selloff in technology equities continued in Asia on Tuesday amid fears of higher interest rates, with a benchmark tracking Chinese technology stocks in Hong Kong set to close at a record low. The Hang Seng Tech Index, which officially started in July last year, dropped as much as 2.5% to slip below the previous closing low on …

Bloomberg Japanese equities fall, pushing the Nikkei 225 Stock Average to a seventh-daily loss and the brink of a technical correction, amid market disappointment with a new government and a host of threats to global economic growth. The blue-chip measure closed 2.2% lower, capping its worst longest losing streak since May 2019 and extending its loss from a September high …

Bloomberg Opec+ agreed to maintain its schedule of gradual monthly production increases, triggering a surge in crude prices. Ministers ratified the 400,000 barrel-a-day supply hike scheduled for November after a short video conference on Monday. Going into the talks, there had been speculation that they could opt for a larger supply increase, but no such proposal was made, delegates said, …

Bloomberg Airbus SE is confident its global supplier base can overcome pandemic-induced pressures and boost output for the company’s workhorse A320 aircraft family despite the “unprecedented” labour and materials strains currently complicating that effort, Chief Executive Officer Guillaume Faury said. In an interview with Bloomberg News, Faury reaffirmed the company’s plan to boost A320 output from 40 per month today …

Bloomberg Deutsche Lufthansa AG is adding more than 80 flights from Frankfurt and over 50 departures from Munich this fall as the German airline sees rising demand for leisure destinations. The carrier will offer extra flights to Spain’s Palma de Mallorca, Gran Canaria, Fuerteventura and Malaga, and other European destinations during the country’s fall vacation period, it said in a …