Bloomberg India’s stock benchmark rose, rebounding from its lowest close in more than two weeks, as investors assessed the extent that the coronavirus outbreak may affect the economic outlook. The S&P BSE Sensex Index climbed for the first day in five, adding 1.1% to close at 41,323 in Mumbai. The NSE Nifty 50 Index posted the same gain. India’s government ...

Bloomberg The pound rose after inflation accelerated, fuelling expectation that the Bank of England (BOE) will hold off lowering interest rates for the foreseeable future. Sterling cemented its position above $1.30, snapping two days of declines versus the dollar after annual inflation picked up for the first time in six months. The currency has also been given a boost by ...

Bloomberg The International Monetary Fund (IMF) reiterated that global economic growth appears to be bottoming out, though also cautioned that risks including the coronavirus dominate the outlook. “After a marked slowdown last year, global economic activity is expected to moderately strengthen in 2020,” the IMF said in a surveillance note released on Wednesday. “Monetary and fiscal policy actions were instrumental ...

Bloomberg Metro Bank Plc handed its interim chief executive officer (CEO) the reins, months after the struggling lender’s previous boss resigned in the wake of an accounting scandal. Dan Frumkin, who has led the bank on an interim basis since the start of the year, takes over the London-based lender’s permanent role with immediate effect. Frumkin, 55, joined the business ...

Bloomberg UBS Group AG hired private-wealth advisers who oversaw $6 billion in assets for Goldman Sachs Group Inc. The team, headed by Denis Cleary and Gregory Devine, has clients in more than 25 US states and will maintain offices in Boston and Los Angeles, UBS said in a statement. “Known for being one of the largest teams in the country ...

Bloomberg Japan’s Mitsubishi UFJ Financial Group Inc is investing more than $700 million in Southeast Asian ride-hailing giant Grab, gaining access to millions across the region that use the mobile app to book cars and meals. The Japanese financial institution intends to market a range of financial services from insurance to loans to Grab’s millions of users, said a person ...

Bloomberg Consumer price inflation in Canada ticked up in January, while the average of the central bank’s core measures slowed down. The overall Consumer Price Index (CPI) was up 2.4% from a year earlier, after a 2.2% gain in December. That beat economist expectations for 2.3% increase. Excluding gasoline, inflation rose 2% in January. On a monthly basis, inflation rose ...

Bloomberg Singapore’s currency may tumble to the lowest level since 2017 if the central bank responds as strongly to the spread of the coronavirus as it did to the Sars epidemic two decades ago. That’s the view of Tan Teck Leng, a macro strategist at UBS Group AG’s Global Wealth Management Chief Investment Office, who thinks the Monetary Authority of ...

Bloomberg President Donald Trump cast doubts over the likelihood of an anticipated trade deal with India, just days before a scheduled visit to the South Asian power. ”Well, we can have a trade deal with India, but I’m really saving the big deal for later on,” Trump told reporters as he left the White House for a trip to California. ...

Bloomberg Indian Prime Minister Narendra Modi has championed free trade in global forums over the years, but his record back home appears to be one of rising protectionism. The government has increased import tariffs over the last two years to curb cheap goods from abroad and support small- and medium-sized local manufacturers. In November, Modi pulled India out of the ...