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  Bloomberg Credit Suisse AG agreed to sell a significant part of its securitised products group (SPG) to Apollo Global Management Inc. in a deal that will help cut back a business that soaks up capital. The transaction, along with the expected sale of other portfolio assets to third-party investors, is expected to reduce SPG’s assets from $75 billion to …

  Bloomberg The Swiss National Bank (SNB) will probably have to raise borrowing costs again next month, President Thomas Jordan said. “There is a high probability that there will again be a need to tighten monetary policy to be sure that we can combat inflation sufficiently,” Jordan told business owners in Lausanne, Switzerland. Inflation has become broader in Switzerland and …

  Bloomberg Uruguay’s central bank increased its benchmark interest rate to 11.25% and signalled it will tighten again by another half point next month. Policymakers raised borrowing costs by 50 basis points for a fourth consecutive policy meeting. Consumer prices slowed by the most in a year-and-a-half to 9.05% in October, but remain well above the 3%-6% target. With another …

  Bloomberg Tencent Holdings Ltd. pledged to distribute the majority of its shares in meal delivery giant Meituan to investors, as China’s social media leader ramps up plans to reduce its extensive holdings across the world’s largest internet industry. Tencent, which had announced plans to pare its stake in online retailer JD.com Inc., will dole out more than 958 million …

  Bloomberg US equity futures rise in choppy trading after a rocket strike inside the Polish border reminded investors of the potential for escalation in the Russia-Ukraine war, though the euro and the Polish zloty recouped earlier knee-jerk losses. While Europe’s Stoxx 600 Index snapped a four-day rising streak, contracts on the S&P 500 traded 0.4% higher, and those on …

Bloomberg The UK competition regulator said it would launch a more in-depth investigation into Korean Air Lines Co. and Asiana Airlines Inc if the carriers fail to allay concerns their proposed merger would lead to higher prices for passengers and impact cargo operators. The airlines have until November 21 to submit proposals to address competition concerns, the Competition and Markets …

  Bloomberg Nike Inc. is opening an online store and trading platform for virtual sneakers as management pumps investment into the metaverse. The world’s largest sportswear company will release its own goods on the .Swoosh platform, and users will be able to collect and show off their items on it. The digital products will include various types of tie-ins and …

  Bloomberg SpiceJet Ltd.’s quarterly loss widened as ballooning fuel costs worsened the airline’s financial distress and offset gains from recovering air travel demand. The no-frills carrier posted a loss of 8.38 billion rupees ($103 million) for the three months through September 30, 49% higher than the deficit in the same quarter last year, according to an exchange filing. “The …

Bloomberg A recent fizzle in the hype surrounding plant protein consumption will give way to a more sustainable growth trajectory that could see the segment account for 30% or 40% of the global protein market, according to a top Nestle SA executive. Many investors piled into the faux meat market based on overly optimistic expectations of consumer uptake, Chief Technology …

  Bloomberg Amazon.com Inc. plans to cut about 10,000 jobs, the largest ever headcount reduction at the e-commerce giant as it braces for slower growth and a possible recession. The layoffs, which could begin as soon as this week, will likely target Amazon’s devices group, responsible for the Echo smart speakers and Alexa digital assistant, as well as Amazon’s retail …