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Bloomberg Chinese stocks listed in the US soared after Beijing made significant changes to the stringent Covid Zero policy that has bogged down the economy and dented appetite for the country’s equities. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, jumped 5.1% in premarket trading. Stocks that are most sensitive to an economic …

Serbia will probably hike borrowing costs as the fastest inflation in more than a decade overshadows the risks of a sharp downturn in economic growth. The National Bank of Serbia will lift its benchmark interest rate by 50 basis points to 4.5%, according to nine of 16 economists in a Bloomberg survey. Five expect a quarter-point increase and two see …

Credit Agricole SA said its regional-bank shareholders would buy up to €1 billion ($1 billion) of the lender’s shares by the first half next year, in a move that takes advantage of depressed prices amid worries over the economic outlook. The Paris-based bank said the regional lenders, through the holding entity SAS Rue La Boetie, would increase their stake to …

Credit Suisse Group AG promoted executives in its Asia-Pacific wealth management unit and removed a layer of hierarchy in a revamp after recent senior departures in the group. “We have flattened the organisational structure,” Benjamin Cavalli, the bank’s regional wealth head, said in a memo, while elevating market group heads who will report to him. Cavalli said he made the …

US stock-index futures rise, while Treasuries slipped, as investors remained on the edge before a report projected to show inflation in the world’s largest economy moderated for a fourth successive month. December contracts on the S&P 500 and Nasdaq 100 added at least 0.3% each, a day after the underlying indexes tumbled to one-week lows amid a blurry midterms verdict …

A panel set up by India’s capital market regulator wants exchanges, clearing houses and depositories to revamp their compliance and risk management structures to minimise governance lapses. A committee headed by G. Mahalingam, a former central banker and a ex- whole time member at the Securities and Exchange Board of India (Sebi), recommended market infrastructure institutions (MII) should separate functions …

Wells Fargo & Co. is under pressure from the Consumer Financial Protection Bureau to pay more than $1 billion to settle a series of investigations into mistreatment of customers, a deal that would shatter the agency’s previous record — also with Wells Fargo. The regulator’s demand in confidential talks, described by people with direct knowledge of the matter, reflects its …

Barclays Plc will refund more than a 1,000 customers an average of £750 ($858) after it failed to send them reminder of its payment protection insurance (PPI) policies. The total payout of up to £1 million is made up of refunds and goodwill payments, according to a Competition & Markets Authority (CMA) statement on Wednesday. The CMA requires providers to …

Most banks that have published net-zero emissions targets are failing to live up to those commitments, according to a fresh study by ShareAction. The majority of the 43 largest financiers of fossil fuels in the Net Zero Banking Alliance (NZBA) “have climate targets that fall short of what’s needed to prevent the worst impacts of climate crisis,’’ the nonprofit said. In …

US equity-index futures fluctuated between gains and losses as corporate performance showed signs of stress and midterm elections failed to yield a Republican sweep that investors had anticipated. December contracts on the Nasdaq 100 and S&P 500 indexes were little changed, a day after US stocks capped a three-day rally. News Corp. and Walt Disney Co. tumbled at least 8% …