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  Bloomberg Bank of America Corp (BofA) said overdraft-service fees plummeted 90% after it took steps to ease off on the charges, which have been under fire from lawmakers. The decline from a year earlier came in June and July, the first two months after the second-largest US bank implemented sweeping changes related to overdraft services for its more than ...

  Bloomberg Major Wall Street banks including JPMorgan Chase & Co, Barclays Plc and Citigroup Inc. are offering to facilitate trades in Russian corporate debt and government bonds, according to Reuters. The move took place in recent days after guidelines from the US Treasury that allowed US holders to wind down their positions, the news agency said, citing client notes, ...

  Bloomberg Norway is poised to raise borrowing costs to the most in over a decade as unexpectedly rapid inflation challenges earlier plans for more gradual increases. The central bank will lift its key policy rate by a half-point to 1.75%, according to most economists surveyed by Bloomberg. That would be the highest since March 2012, with investors watching for ...

  Bloomberg Rising prices amid a US economic slowdown will menace embattled credit markets, if history repeats. The current inflation and growth environment is most akin to the 1973 to 1975 and 1978 to 1980 time periods, when credit markets did badly, according to Barclays Plc. strategists led by Dominique Toublan. “Credit performance was poor then, and we do not ...

  Bloomberg Hang Seng Bank Ltd, a Hong Kong-based lender majority owned by HSBC Holdings Plc, is seeking an insurance partner after its existing agreement with Australia’s QBE Insurance group Ltd. expired. Hang Seng Bank is working with a financial adviser as it explores a so-called bancassurance partnership, which could be valued at more than $100 million, the people said, ...

Bloomberg Nomura Holdings Inc may use hedges to limit further hits from its ownership of a stake in a US mutual fund manager after booking losses on the investment for two straight quarters. Japan’s largest brokerage will “consider mitigating measures, including hedges” to reduce the earnings impact of its holding in American Century Investments (ACI), spokesman Yoshitaka Otsu said, declining ...

  Bloomberg US equity-index futures fall with Treasuries after a chorus of Federal Reserve officials reiterated their resolve to continue rate hikes and traders raised tightening wagers for other major central banks. September contracts on the S&P 500 Index fall 0.8% after the gains put the equity benchmark on course for the longest streak of weekly gains since November. Technology ...

Bloomberg Gold headed for the first weekly decline as traders weighed mixed signals from Federal Reserve officials on the size of the next interest rate increase. Bullion dropped to a three-week low amid an ongoing discussion on whether the Fed will shift to less aggressive rate hikes. The policy makers offered divergent views, with St. Louis’s James Bullard urging another ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a Federal Decree appointing Major General Sultan Yusuf Abdul Rahman Al Nuaimi, Director-General of Residency and Foreigners Affairs at the Federal Authority for Identity, Citizenship, Customs & Port Security (ICP). Al Nuaimi will be responsible for preparing policies and strategies related to the entry ...

  Abu Dhabi / WAM The UAE is continuing to provide sustainable humanitarian giving, underscoring its commitment to promoting regional and global peace and prosperity, by offering development, humanitarian and charitable support worldwide. According to new data issued by the Ministry of Foreign Affairs and International Cooperation (MoFAIC), the total value of foreign aid provided by the UAE from the ...