Bloomberg As other countries face renewed outbreaks, Sweden’s latest Covid-19 figures suggest it’s rapidly bringing the virus under control. “That Sweden has come down to these levels is very promising,” state epidemiologist Anders Tegnell said. Since hitting a peak in late June, Sweden’s infection rate has fallen sharply, according to the Health Agency of Sweden. That’s amid an increase in ...

Bloomberg A Chinese researcher in US custody on charges of visa fraud was ordered detained until August 10, when she’ll have a fight on her hands if she asks to be released on bail. Juan Tang appeared before US Magistrate Judge Deborah Barnes in Sacramento, California. She took shelter at the Chinese consulate in San Francisco after federal agents interviewed ...

Bloomberg Caught in the crossfire between Washington and Beijing, HSBC Holdings Plc is fighting forces that threaten to upend a business built on connecting China to the West. Chairman Mark Tucker is overseeing a sweeping review of HSBC’s US and European operations with an eye towards unloading businesses beyond repair, as doubts grow that 35,000 job cuts announced in February ...

Bloomberg An independent panel backed an African Development Bank (AfDB) probe that found no evidence of wrongdoing by its president, Akinwumi Adesina. The finding enables Adesina, 60, to seek re-election next month as head of the continent’s biggest multilateral lender for another five years. It’s also a rebuff to US Treasury Secretary Steven Mnuchin, whose rejection of the AfDB ethics ...

Bloomberg Credit Suisse Group AG invested nearly $100 million in Ant Group during its last funding round, according to people familiar with the matter, setting the Swiss bank up for a potential windfall as the Chinese internet giant prepares to go public. The Zurich-based lender, a frequent adviser on deals across Jack Ma’s empire, made the equity investment during Ant’s ...

Bloomberg Royal Bank of Canada (RBC) will buy solar power from BluEarth Renewables Inc. under a renewable-energy contract that’s a first of its kind for a Canadian financial firm. Canada’s largest bank and partner Bullfrog Power, a unit of Spark Power Group Inc., will each purchase 31,500 megawatt-hours a year — enough electricity for almost 2,600 homes — in an ...

Bloomberg Bank Indonesia’s unprecedented move to buy about $27 billion in bonds directly from the government may prove to be an exception rather than the norm in emerging markets. With the world economy in crisis and Modern Monetary Theory gaining attention, governments are being pressured to spend more and turn to their central banks to print money to foot the ...

Bloomberg Coutts & Co., the private UK bank that counts Queen Elizabeth II among its clients, has warned customers within the European Economic Area (EEA) that it can no longer offer them mortgages due to Brexit. The lender, owned by Natwest Group Plc, will lose so-called passporting rights that allow it to operate freely within the EEA if the current ...

Bloomberg The biggest Nordic banks are taking a long hard look at their compliance units after a recent hiring spree. Mikael Bjertrup, the head of financial crime prevention at Nordea Bank Abp, says banks initially ramped up compliance so fast they weren’t able to focus on efficiency in those departments. Nordea has been working on the issue for a while, ...

Bloomberg European stocks climbed on the back of strong earnings reports. Gold stabilised below $2,000 an ounce and US futures fluctuated. Games Workshop Group Plc led gains in the Stoxx Europe 600 Index after posting an increase in full-year profit. Peugeot maker PSA Group climbed 3.8% after sticking to its outlook. Silver retreated alongside base metals. The dollar traded near ...