Bloomberg It was a one-two punch that’s turned the Malaysian ringgit into Asia’s worst performer this month. FTSE Russell said it may drop Malaysian debt from the FTSE World Government Bond Index because of concern about market liquidity, roiling the nation’s currency and bonds. And less than two weeks ago, Norway said its sovereign wealth fund will cut emerging-market debt ...

Bloomberg Federal Reserve Chairman Jerome Powell and his colleagues have made an important shift in their strategy for dealing with inflation in a prelude to what could be a more radical change next year. The central bank has backed off the interest-rate hikes it had been delivering to avoid a potentially dangerous rise in inflation that economic theory says could ...

Bloomberg The biggest US banks have leaned on retail banking businesses to offset a prolonged slump in trading and drive record profits. Now comes the question of whether they can keep it up. The lenders, led by JPMorgan Chase & Co. and Bank of America Corp., are delivering on the promise that the stockpiles of deposits they spent years attracting ...

Bloomberg Citigroup Inc. and Goldman Sachs Group Inc. both delivered better-than-expected earnings. Instead of celebrating, executives were assuring investors they’ll make more progress on revamping units that are dragging down results. Growth stalled at Citigroup’s consumer unit, so executives pointed to green shoots in a digital bank effort. Goldman Sachs had the biggest first-quarter trading decline among banks that have ...

Bloomberg China’s central bank cut some of the long-term funding it supplies banks in a sign it may be dialing back its monetary stimulus as the economy strengthens. The People’s Bank of China (PBOC) rolled over about half of the funds coming due via 1-year medium-term lending, and also offered to lend 160 billion yuan ($24 billion) for 7 days ...

Bloomberg Oversea-Chinese Banking Corp. (OCBC) is looking for a Chinese firm to team up with on a securities joint venture on the mainland, the latest foreign bank seeking to capitalsise on the nation’s financial-industry loosening. Obtaining a Chinese securities license would allow OCBC to do asset management, investment banking and fund management business in the nation, Chief Executive Officer Samuel Tsien ...

Bloomberg Commerzbank AG has been sounded out by ING Groep NV about a possible combination of the two lenders, according to a person familiar with the matter, as the German firm’s talks with domestic rival Deutsche Bank AG draw increasing criticism. Commerzbank shares extended gains after Manager Magazin first reported the talks, citing people it didn’t identify. ING Chief Executive ...

Bloomberg The delay to Brexit has potentially given the Czech central bank a small window to raise borrowing costs this year as it tries to put a lid on price growth before the economy slows, board member Tomas Holub said. After leading Europe with five interest-rate hikes last year, policy makers in Prague will most likely deliver only one in ...

Bloomberg A board of pilot experts appointed by US aviation regulators has reviewed Boeing Co’s proposed software fix for the grounded 737 Max aircraft and concluded that pilots won’t need additional simulator training once the plane is returned to service. The report by a Federal Aviation Administration Flight Standardization Board is an important first step in reviewing the still-unfinished upgrade ...

Bloomberg Jet Airways India Ltd suspended operations after the cash-strapped carrier that once ranked as the nation’s biggest by market value failed to secure a bailout. The Mumbai-based company has taken a decision to halt flights on a “temporary” basis from Thursday, it said in a statement, when the last service was scheduled to take place. “Since no emergency funding ...