Bloomberg Some of the world’s biggest banks are urging a US judge not to immediately terminate Libor after a group of borrowers filed suit claiming the benchmark was the work of a “price-fixing cartel.” Defendants in the case, including JPMorgan Chase & Co., Credit Suisse Group AG and Deutsche Bank AG, said in a November filing that an injunction abruptly ...

Bloomberg Morgan Stanley strategists have dropped their expectations of near-term weakening in the dollar amid a regime shift in US rates propelled partly by prospects for meaningful fiscal expansion. “It’s no longer attractive to be positioned for a weaker dollar from here given the uncertainties around the fiscal policy outlook, the monetary policy outlook, and the growth and inflation outlook,” ...

Bloomberg The Reserve Bank of India (RBI) is open to examining any proposal to set up a bad bank, Governor Shaktikanta Das said, days after the authority forecast a surge in soured assets. “If any proposal comes we are open to examining it and issuing the regulatory guidelines but it’s for the government and the private sector players to really ...

Bloomberg As HSBC Holdings pins its future on China, Europe’s largest bank is grooming a set of well-connected bankers to navigate its fraught relationship with Beijing in the long run. David Liao and Mark Yunfeng Wang, heads of Asia Pacific global banking and its China operations, respectively, are among a handful of contenders in the running to steer HSBC’s expansion ...

Bloomberg Brazil’s central bank said inflation pressures could persist in the beginning of the year, eventually leading to an interest rate hike, after a report showed consumer prices surged in December by the most since 2003. While reaffirming that a record-low rate of 2% is adequate for now, Monetary Policy Director Bruno Serra said Brazil shouldn’t have such a level ...

Bloomberg There are growing signs that Beijing is keen to slow the ascent in China’s currency after it surged to the highest level since mid-2018 against the dollar. The People’s Bank of China set its fixing at 6.4604 per dollar, 0.06% weaker than the average estimate in a Bloomberg survey. The move came after policy makers sent a string of ...

Bloomberg Big tech’s decision to ban the Parler app and block outgoing US President Donald Trump is stoking support for alternative social networking sites and apps that bill themselves as promoting free speech and privacy. Facebook Inc. and Twitter Inc. took the strongest action yet to address accusations that their platforms are being used to stoke conspiracy theories, misinformation and ...

Bloomberg If you had planned to borrow a BMW M5 for a weekend touring the Grand Ole Opry and Johnny Cash Museum, you’re out of luck. And not just because of Covid-19. BMW has cancelled the subscription service it began in 2018 in Nashville, Tenn. A spokesman for the brand said the $2,000-plus monthly Netflix-for-cars style program would end on ...

Bloomberg Apple Inc. has begun early work on an iPhone with a foldable screen, a potential rival to similar devices from Samsung Electronics Co. and others, though it’s planning only minor changes for this year’s iPhone line. The Cupertino, California-based company has developed prototype foldable screens for internal testing, but hasn’t solidified plans to actually launch a foldable iPhone. The ...

Bloomberg Facebook Inc.’s planned smart glasses will arrive “sooner than later” in 2021, but won’t feature the kind of digital overlay technology that is associated with augmented reality, according to hardware chief Andrew Bosworth. The glasses, which are being built in partnership with Ray-Ban and parent Luxottica Group, will connect to a device — though users won’t be able to ...