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  Bloomberg Pakistan’s central bank will pause interest-rate increases to preserve economic recovery after delivering Asia’s boldest hikes since September, Governor Reza Baqir said. “We are going to take a pause to first look at the effects of the tightening we have already done,” Baqir told Bloomberg Television’s Rishaad Salamat and Yvonne Man. “Fiscal policy has been very complementary and …

  Bloomberg HSBC Holdings Plc is planning to phase out the financing of coal used for generating electricity by 2040, the latest bank to commit to ending support for the greenhouse gas-intensive fossil fuel. The London-based lender will stop financing thermal coal in the European Union and countries belonging to the Organisation for Economic Co-operation and Development (OECD) by 2030, …

  Bloomberg Buying after a plunge, a trade rewarded virtually every time stocks pulled back in 2021, is facing a big challenge. Down hard for a second day Monday, the S&P 500 has now posted back-to-back, 1%-plus swoons twice in the past month, something it has mostly avoided doing before. It’s a worrying departure from the recent past, when 1% …

  Bloomberg Stocks rise with US equity futures Tuesday on wagers that vaccines can help tame the omicron virus outbreak and signs that US President Joe Biden could yet revive his $2 trillion economic agenda. European shares rebounded, with miners in the lead as commodities gained. Asian shares were bolstered by a rebound in Japan and a rally in Chinese …

  Bloomberg Europe is bracing for energy shortages as freezing weather sets in, boosting demand and sending prices surging at a time when supply just can’t keep up. Temperatures are forecast to fall below zero degrees Celsius in several European capitals, straining electricity grids already coping with low wind speeds and severe nuclear outages in France. To make matters worse, …

  Bloomberg Solar firms in China fell after a $2 trillion US economic plan with crucial climate provisions suffered a potentially fatal setback in Congress. Trina Solar Co fell as much as 7.7% and Longi Green Energy Technology Co slipped as much as 3.3% in Shanghai. The Build Back Better Act, rejected in a surprising decision by Senator Joe Manchin, …

  Bloomberg Widespread flight delays in snowstorms and low visibility could occur once new 5G wireless service rolls out in early January, airline executives and aviation officials are warning with increasing alarm. The officials say the new wireless signals threaten to interfere with equipment on planes and helicopters that track aircraft altitude, which could prohibit landings in poor visibility and …

  Bloomberg The number of people visiting London’s major shopping district was down by almost a fifth on the last weekend before Christmas compared with pre-pandemic levels, a further sign of the toll the spread of the omicron variant is taking on beleaguered UK stores. Footfall in the West End was 17% lower than the equivalent period in 2019, and …

  Bloomberg Future Retail Ltd’s shares and dollar bonds jumped after an order by India’s antitrust body may make it harder for Amazon.com Inc to block a bid for the Indian department store chain by rival Reliance Industries Ltd. Future’s shares rose by the maximum permissible 20% to 57.5 rupees in Mumbai on Monday, the biggest surge since August last …

  Bloomberg British Airways (BA) put flights to Hong Kong on hold until March after the imposition of strict quarantine rules by the Asian financial hub’s government saw airline crews forced to isolate in a makeshift camp. The London-based carrier’s schedule shows no services to Hong Kong until the end of February. British Airways initially suspended flights there late last …