Bloomberg Morgan Stanley moved closer to take full control of its securities and fund management ventures in China as it ramped up investments in the world’s second-largest economy. The US bank is buying an additional 39% of the securities joint venture for 569.6 million yuan ($89.5 million), according to an exchange filing from Shanghai Chinafortune Co, the parent company of …

Bloomberg Bank of America Corp (BofA) plans to bring top New York managers back to the office starting June 1, as the proliferation of vaccines across the US clears the way for employees to return. “Our goal is by after Labour Day to effectively be back to where we were in January of 2020,” CEO Brian Moynihan said while testifying …

Bloomberg Poland’s central bank has repeatedly vowed to keep government borrowing costs low during the pandemic. Its quantitative-easing auction this week had the opposite effect. The National Bank of Poland unexpectedly refused to buy $1.2 billion of government bonds that investors offered to sell, sending the local debt market into a tailspin. The decision blindsided investors, sparking speculation that policy …

Bloomberg The main thing Ferrari will tell you about the 2021 Ferrari SF90 Stradale is how much of a bargain it is. The arithmetic requires some squinting around the edges of elitism and a healthy injection of relative logic. It goes like this: The two-door coupe is the second hybrid from Modena, Italy’s crown jewel, the first being the La …

Bloomberg Ford Motor Co is boosting spending on electric vehicles by at least 36% to $30 billion over the next four years and said that by the end of the decade, four out of 10 models it sells will be battery-powered. The investment includes creating a range of batteries the carmaker is calling IonBoost and the development of solid-state batteries …

Bloomberg Facebook Inc’s messaging platform WhatsApp has filed a lawsuit challenging Indian rules that would require the company to provide access to encrypted messages, aggravating an already tense relationship between Silicon Valley giants and the government in a country where they have hundreds of millions of users. WhatsApp filed the lawsuit in the Delhi High Court, the company confirmed. The …

Bloomberg Apple Inc is readying a revamp of its entry-level AirPods for this year and a second generation of the AirPods Pro for next year. The new base AirPods will mark the first update to the product since March 2019 and will add a new design that mostly mirrors that of the AirPods Pro. The earbuds will come with a …

Dubai / WAM Dubai’s real estate market continues to achieve record numbers in the number and value of real estate sales transactions, thus enhancing the emirate’s global position as the preferred, and most attractive and flexible real estate investment destination. The 14th edition of Mo’asher, Dubai’s official sales price index, launched by Dubai Land Department, in cooperation with Property Finder …

Bloomberg India may need to borrow more for a second straight year to compensate its states for their revenue loss due to a shortfall in a nationwide consumption tax collection, according to people with knowledge of the matter. The additional borrowing requirement is estimated at $21.7 billion in the fiscal year started April 1, said the people, who asked not …

Bloomberg Mexico’s aviation-safety ranking has been downgraded by the US, prohibiting an expansion of flights from the nation’s carriers to its northern neighbor. The move by the Federal Aviation Administration is a symbolic blow to Mexico at a time when it has become by far the biggest international market with the US and may force an end to business agreements …