Bloomberg Nordea Asset Management says it’s trying to slow the flow of cash into its global climate fund amid seemingly insatiable demand for clean assets. To “protect the interests of all shareholders and to ensure the continued efficient management of the fund,” Nordea plans to cap daily subscriptions and conversions at 1 million euros, effective June 25, it said on. …

Bloomberg The Czech Republic should kick off interest-rate increases this month to prevent the factors driving global inflation from sending consumer prices spiralling out of control, central banker Tomas Holub said. The country is among a handful of EU states taking a hawkish stance in debate over whether surging inflation is temporary and outside of central banks’ influence or a …

Bloomberg Bank of America Corp (BofA) has made a number of changes to the leadership of its natural resources unit in Europe and North America. The bank has named Maria Garijo del Cura and James Sleeman co-heads of Europe, Middle East and Africa natural resources investment banking, based in London, according to an internal memo from Ray Wood, the bank’s …

Bloomberg Nigeria’s government is in talks with Standard Chartered Plc (StanChart) about arranging funding for two rail projects expected to cost as much as $14.4 billion, replacing earlier plans to source the loans from Chinese banks, Transport Minister Rotimi Amaechi said. President Muhammadu Buhari’s administration and the London-based lender are discussing financing for the upgrade of a narrow-gauge track in …

Bloomberg Some European Central Bank (ECB) officials issued warnings about higher rates of inflation, just a day after agreeing to keep monetary stimulus flowing at an accelerated pace through the summer. Austrian Governor Robert Holzmann went so far as to say that if euro-area price growth exceeds 3%, then policy makers would need to consider acting. He said the possibility …

Bloomberg Treasuries climbed Tuesday while US equity futures were little changed, with markets appearing unruffled ahead of a key Federal Reserve meeting. Contracts on the S&P 500 index pared an early gain after the underlying gauge hit another record. European equities were led higher by chemical firms, while Asian stocks were mixed. The 10-year Treasury yield pulled back under 1.5%, …

Bloomberg China Evergrande Group fall after Caixin’s WeNews reported that a local government discussed paring the property giant’s stake in a regional lender and a new policy could curb a key source of financing for developers. Authorities in the northeastern Liaoning province held discussions with Evergrande to inject state capital into Shengjing Bank Co to dilute Evergrande’s stake, according to …

Bloomberg The world’s top makers of Covid-19 vaccines dropped after tests of Novavax Inc.’s shots showed they were 90% effective at preventing symptoms. Stocks tied to inoculations already cleared for emergency use fall in trading, led by Moderna Inc closed down 5.2% after dropping 9.5% intraday. Pfizer Inc. fell 1.3% and the drugmaker’s German partner BioNTech SE dropped 7.5%. Consumer …

Bloomberg Indian monetary policy makers are tolerating inflation rates higher than their 4% medium-term target while they focus resources on an economic rebound. Economists see the Reserve Bank of India (RBI) taking a grin-and-bear it approach to price pressures as it seeks to help Asia’s No. 3 economy recover from one of the world’s worst coronavirus outbreaks. The RBI has chosen …

Bloomberg Toronto-Dominion Bank (TD) was found not liable for losses related to convicted fraudster Allen Stanford’s Ponzi scheme, with an Ontario judge rejecting a $4.5 billion negligence claim against the firm. The lender doesn’t need to pay the claim filed by trustees trying to recover losses from Stanford investors because Toronto-Dominion “did not know or have any reason to suspect …