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Diversification has been a blessing for BNP Paribas SA. France’s biggest bank is emerging from the economic carnage unleashed by the first wave of the pandemic better than competitors, even after losing money on derivatives. But absent a repeat of the buoyant trading markets we’ve seen this year, not even BNP can escape the pressures of souring debt and declining ...

The Bank of England meets on Thursday against the backdrop of a newly imposed lockdown that’s designed to curb the spread of the coronavirus, but will also crimp the economy. For lenders who were already nervous about borrowers being unable to pay their debts, the prospect of a second collapse in growth will prompt them to rein in their support ...

Ant Group Co will survive the 11th-hour suspension of its blockbuster $35 billion listing in Shanghai and Hong Kong if the company can learn from its technology peers. If there’s one thing that founder Jack Ma and Chinese regulators probably agree upon, it’s that finance and technology make for a powerful combination. The mix is where they ran into trouble. ...

Bloomberg Chinese President Xi Jinping is expected to lay out his plans for a more innovation-driven and self-reliant economy on a tumultuous day for investors. Xi was scheduled to deliver a speech at the opening of the China International Import Expo on Wednesday in Shanghai, an annual event he has used since 2018 to tout China’s importance in global trade. ...

Bloomberg Indian employees are likely to witness their monthly paycheck getting a bigger boost next year compared to 2020 as companies are betting on higher consumer demand due to enhanced government spending and bumper rainfall to neutralise the pandemic-led economic contraction, a survey showed. Companies, spanning sectors including e-commerce, energy, financial institutions and pharmaceuticals, are projected to increase compensation by ...

Bloomberg Estee Lauder Cos sees a revival in China’s tourism — a promising sign in a critical growth market for international brands. Chief Executive Officer Fabrizio Freda said that Chinese travel stores — the type seen in airports and train stations — were a “stand-out performer” in the company’s most recent quarter, posting double-digit growth. Global travel sales, meanwhile, were ...

Bloomberg Mitsubishi Motors Corp reported an operating loss that was wider than estimates as the Japanese automaker struggles to sell cars amid the coronavirus outbreak. The loss for the quarter ended in September was 29 billion yen ($276.5 million), compared with analysts’ average projection for a loss of 27 billion yen. Even so, Mitsubishi Motors stuck to its forecast for ...

Bloomberg Jack Ma was poised to become Asia’s richest person with Ant Group Co’s initial public offering. Instead, his net worth tumbled almost $3 billion and both retail and institutional investors who were betting on a big first-day pop are in limbo. Alibaba Group Holding’s US-traded shares slid 8.1% in New York,the most since January, 2015, after Ant said its ...

Bloomberg Close contests in five key states mean the US presidential election may not be decided for days, or longer, even as President Donald Trump’s falsely claimed victory over Democrat Joe Biden with millions of ballots still to be counted. As of 6 am New York time on Wednesday, Biden had 238 electoral votes while Trump had 213, leaving both ...

Bloomberg Italy is poised to ban people from leaving or entering cities and towns in high-risk areas, likely including the financial capital Milan, as part of the government’s latest attempt to check the rapid spread of the coronavirus. A 10 pm to 5 am curfew will also be imposed across the country, according to a draft decree seen by Bloomberg. ...