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  Bloomberg HSBC Holdings warned traders that one of the main risks to business continuity is the city’s quarantine policy as the Asian financial hub tightens to contain a fifth wave of infections. Hong Kong, which is pursuing a Covid Zero strategy to match mainland China, has employed some of the strictest measures in the world to keep infections at …

  Bloomberg The Swiss franc rises to the highest level against euro in more than six years on Monday, as concern over a possible military confrontation in Ukraine boosted demand for the haven currency. The franc climbed 0.2% to 1.0324 per euro, a level last seen in June 2015. It is poised for a 10th day of gains, the longest …

  Bloomberg China’s central bank set its strongest reference rate for the yuan in three years in a sign it’s loosening its grip on the currency amid a relentless rally. The People’s Bank of China (PBOC) set the reference rate at 6.3485 per dollar, the strongest since May 2018, similar to the average estimate in a Bloomberg survey. The move …

  Bloomberg Equities in Europe declined on Monday and US futures reversed gains as the rout in technology stocks deepened amid concerns over the Federal Reserve’s imminent rate liftoff. Bonds gained. Tech stocks were among the largest decliners as the Stoxx Europe 600 index dropped almost 2%, on track for the biggest two-day slump since October. Tensions between Russia and …

  Bloomberg Some of the world’s biggest funds are switching toward emerging-market equities in a bet their central banks have less need to raise interest rates after tightening before their developed-nation peers last year. Goldman Sachs Asset Management and BNP Paribas Asset Management are among those buying the shares on expectations the most attractive valuations in more than a decade …

  Bloomberg The surging Omicron variant is complicating the recovery for a world economy that continues to be wracked by supply chain chaos, worker absenteeism and faltering assembly lines. Supermarkets are struggling to stock shelves amid chronic staff shortages. Airlines are grounding flights. Manufacturers are facing disruption and shipping lines remain backed up. At the same time, surging energy prices …

  Bloomberg The US government suspended 44 scheduled Chinese airline flights from the US to China in response to restrictions placed on American carriers over Covid-19 testing protocols. The US Department of Transportation issued restrictions against four Chinese airlines in a dispute that has been percolating since the pandemic erupted in 2020. China in recent months had suspended flights on …

  Bloomberg UK retailers embraced the government’s move to ease restrictions after Omicron hijacked footfall over the holiday season, saying they hope customers will swiftly return to their stores. The government will no longer ask people to work from home or wear face masks in shops or public transport from Jan. 27, Prime Minister Boris Johnson said. Covid passes proving …

  Bloomberg Unilever Plc’s Indian unit reported quarterly profit that met analyst expectations as price hikes helped Asia’s largest consumer goods maker by market value manage persistent inflation that has hit the pockets of consumers in the country’s vast and largely impoverished hinterland. The Mumbai-listed Hindustan Unilever Ltd. posted a 17% rise in net income to 22.4 billion rupees ($300.6 …

  Bloomberg Deutsche Lufthansa AG may seek a 40% stake in Alitalia’s successor ITA Airways, Italian newspaper Il Foglio reported, citing unnamed sources. The plan, which could be announced in coming days, would be subject to European Union approval, the paper said. The two sides are close to agreement on issues including financial consolidation and turning Rome’s Fiumicino airport into …