Bloomberg JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the UK to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. The US bank plans to finish the migration of the assets to its Frankfurt-based subsidiary by the end of …

Bloomberg Banks from Goldman Sachs Group Inc. to HSBC Holdings Plc have hit pause on plans to return workers in London after Prime Minister Boris Johnson appealed to Britons to work from home to help tame a resurgent coronavirus. Goldman Sachs is encouraging its London employees to go back to working remotely if possible, though its Plumtree Court office will …

Bloomberg The Bank of Thailand held its benchmark interest rate unchanged for a third straight meeting to save its limited policy space, allowing fiscal policy to take the lead in reviving an economy headed for its worst annual performance ever. The central bank kept the policy rate unchanged on Wednesday at 0.5% in a unanimous decision, after lowering rates three …

Bloomberg New Zealand’s central bank said it may launch a new stimulus tool this year to further reduce borrowing costs, a precursor to taking interest rates negative in 2021. The Monetary Policy Committee favours introducing a Funding for Lending Program for banks “before the end of 2020,” the Reserve Bank said on Wednesday in Wellington after holding the official cash …

Bloomberg India’s central bank will continue to intervene to prevent any sharp appreciation in the rupee, even after signs of leniency towards currency gains in recent weeks, according to ICICI Bank Ltd. The Reserve Bank of India’s (RBI) forex strategy has been in sharp focus after it stepped away from dogged dollar buying amid large inflows. The perception that the …

Bloomberg Credit Suisse Group AG Chief Executive Officer (CEO) Thomas Gottstein said he expects the wealth management business to slow down in the third quarter while revenue and trading will keep pace with earlier this year. Speaking at a virtual Bank of America Corp. conference, the CEO said he expects banking consolidation to pick up, but cautioned that international deals …

Bloomberg European stocks bounded higher with US futures as equity markets built upward momentum after the September selloff cut valuations. The dollar extended its rebound. The Stoxx Europe 600 rises the most in two weeks on gains in airline, media and auto shares. Contracts on the blue-chip Dow Jones Industrial Average outperformed those on the Nasdaq 100 as investors turned …

Bloomberg Indian stocks fall, with the benchmark gauge set for its longest string of losses in six months. The S&P BSE Sensex dropped 0.3% to 37,611.34 as of 1:36 pm in Mumbai, erasing an earlier gain of as much as 1%. The NSE Nifty 50 Index lost 0.5% as both measures headed for a fifth day of declines. A measure …

Bloomberg Oil edged higher, recovering from its biggest loss in almost two weeks even as a resurgent coronavirus looms over the demand outlook. Futures in London were up 1.3% near $42 a barrel, snapping a sharp decline from Monday alongside the European markets. Brent also recovered from technical support, moving away from their 100-day moving average on Tuesday. That’s despite …

Bloomberg Nikola Corp’s latest stock plunge sent shares of Norwegian green energy company Nel ASA to a nearly 17% drop. The Oslo-based company is critically tied to Nikola, which is set to be a major buyer of Nel’s technology to create hydrogen. Earlier this year, Nikola made a more than $30 million order for Nel’s electrolysers that would create the …