Bloomberg National Bank of Canada Chief Executive Officer Louis Vachon said the Bank of Canada (BoC) is being “prudent” in reducing government bond purchases and hinting it may raise interest rates earlier than expected. “We don’t know how this thing will evolve — we’re navigating in uncharted waters,” Vachon said in an interview after the bank’s annual meeting. “But by ...

Bloomberg The Reserve Bank of India (RBI) restricted American Express Banking Corp (Amex) and Diners Club International Ltd (Diners) from adding new local customers, citing non-compliance with data-storage rules. The order will take effect from May 1 and won’t impact existing customers, the RBI said in a statement. The firms are the first to be penalized under India’s data-storage rules ...

Bloomberg The Bank of Russia unexpectedly raised its key interest rate by 50 basis points and signalled more tightening as ruble volatility contributed to inflation risks. The benchmark rate was raised to 5%, the Bank of Russia said in a statement. Thirteen economists out of 41 analysts forecast the move, while 28 expected a smaller cut, according to a Bloomberg ...

Bloomberg Chinese companies are listing in the US at the fastest pace ever, brushing off tensions between the world’s two biggest economies and the continued risk of being kicked off American exchanges. Firms from the mainland and Hong Kong have raised $6.6 billion through initial public offerings (IPOs) in the US this year, a record start to a year and ...

Bloomberg Die-hard Tesla Inc investors might be forgiven for wondering why the thrill of owning iconic carmaker’s stock has seemingly disappeared. After all, since catapulting over 700% last year, the shares have barely eked out a 3.4% advance in 2021. Meme stocks like GameStop have pushed Tesla out of the limelight, while Bitcoin has attracted almost all the buzz. But ...

Bloomberg The UK estimated that delivering on its ambitious targets to slash greenhouse gas emissions by the middle of the century will cost 651 billion pounds ($904 billion), but the benefits of protecting the environment will be far greater. The government’s official impact assessment of a target to cut emissions by 78% by 2035 indicates that action will generate a ...

Bloomberg Oil falls this week with spreading coronavirus cases in countries such as India tempering optimism around positive signs out of the US and Europe. Futures in New York rise the most in over a week, but were unable to reverse a 1.6% weekly loss as the market weighed a global economic reopening that’s coming in fits and starts. The ...

Bloomberg Californian Governor Gavin Newsom will ban new hydraulic fracturing permits in the coming years as the state pushes to eliminate net greenhouse-gas emissions by 2045. His order to halt new permits by January 2024 follows calls from environmental groups for executive action after two Democratic state senators failed to pass legislation that would prohibit fracking altogether in 2023. The ...

Bloomberg Boeing Co is sticking with Chief Executive Officer Dave Calhoun to guide the company through a long and uncertain recovery, while parting ways with a potential contender for his job. The company’s board raised Calhoun’s retirement age to 70, citing the 64-year-old’s “substantial progress” in ending the 737 Max grounding and bringing the planemaker back from the Covid-19 pandemic. ...

Bloomberg China’s Baiyun International airport in Guangzhou topped the list of the world’s busiest hubs in a coronavirus-wracked 2020, knocking Hartsfield-Jackson Atlanta International off a perch it occupied for more than two decades. Baiyun moved up from 11th place, trade group Airports Council International said in a statement, capping a year when the Covid-19 pandemic disrupted global air travel. Hartsfield-Jackson ...