Bloomberg Commonwealth Bank of Australia is being sued by the nation’s securities regulator for allegedly rigging the benchmark bank-bill swap rate, adding to legal problems for the nation’s largest lender. The Australian Securities & Investments Commission said it began legal proceedings on Tuesday in the Federal Court in Melbourne, alleging the bank engaged in “unconscionable conduct and market manipulation” between …

Bloomberg Morocco may need anything from five to 15 years to fully float the dirham, with further currency liberalisation dependent on other reforms including strengthening the country’s export base and reducing the current-account deficit, central bank Governor Abdellatif Jouahri said. Policymakers finally eased their grip on the dirham on January 15, allowing the currency to trade 2.5 percent above or …

Bloomberg JAB Holding Co.’s audacious effort to build a food-and-beverage empire, which already includes Krispy Kreme Doughnuts and Caribou Coffee, has taken a surprise turn into soft drinks. The investment firm’s Keurig Green Mountain Inc. business, known for its single-serve coffee brewers, agreed to take control of Dr Pepper Snapple Group Inc. The deal will pay $18.7 billion in cash …

Bloomberg Ryanair Holdings Plc recognised the union representing its UK pilots, reaching its first formal labour agreement in the discount airline’s history. The 600 UK pilots directly employed by the carrier will be represented by the British Airlines’ Pilots Association, Ryanair said in a statement. All 15 of its bases in the market—the company’s biggest—have also voted to accept management’s …

Bloomberg China Eastern Airlines Corp. and Xiamen Airlines Co. cancelled 176 additional flights to Taiwan after failing to gain approval from the island’s authorities amid an escalating dispute between the two governments. The flights are a newest sticking point between China and Taiwan, which Beijing considers a province to be reunited with the mainland. Taiwanese President Tsai Ing-wen, whose ruling …

Bloomberg EasyJet Plc’s newly hired chief executive officer is taking a pay cut to match the salary of his predecessor, Carolyn McCall, as the discount airline joins UK-wide efforts to reduce the national gender gap in remuneration. Johan Lundgren’s salary, originally set at 740,000 pounds ($1.04 million), will be reduced 4.6 percent to the 706,000 pounds earned by McCall in …

Bloomberg All major US stock indexes declined and Treasuries extended a selloff that’s taken yields to the highest since early 2014 as traders gear up for a hectic week of data and policy announcements. The dollar strengthened against its biggest rivals. The euro retreated as German bonds dropped for a fourth day, while the Stoxx Europe 600 Index inched lower …

Bloomberg Cryptocurrency-related stocks rallied in Japan on Monday, even as news of a $500 million heist at an exchange run by Coincheck Inc. spawned security concerns about digital money. Remixpoint Co. rose as much as 6.1 percent after the BITPoint exchange operator said it will list more coins in a bid to win over customers. GMO Internet Inc. advanced as …

Bloomberg The dot-com bubble was a lot more picky. Even on the day the S&P 500 Index hit its March 2000 peak an investor could buy a third of the index for less than 11 times earnings. Today that figure is just 6 percent. While the average valuation for the gauge of US equities is the same between the two …

Bloomberg The enthusiasm in the oil markets is breaking records. Hedge funds reported record wagers on continued price increases for both US and global oil benchmarks, along with gasoline and diesel. Meanwhile, producers are hedging production at record rates as oil experiences its best January since 2006. “There is a lot of interest in the direction of crude oil,” Rob …