Bloomberg Business

Wall Street has been caught by surprise by a rally in local emerging-market debt, an asset class that’s been largely abandoned by foreign investors after a decade of underperformance.

The scourge of negative-yielding debt refuses to go away for investors as the Bank of Japan’s continued reluctance to roll back quantitative easing has pushed some local yields back below zero.

JPMorgan Chase & Co. has tied up with six Indian banks to introduce a blockchain-based platform to settle interbank dollar transactions in the nation’s newest international financial hub.

European Central Bank Governing Council member Boris Vujcic said the surge in consumer prices is only slowly abating, and the dangers of a resurgence exceed those of a more rapid retreat.

UBS Group AG expects to complete its acquisition of Credit Suisse Group AG as early as June 12, creating a new powerhouse in European banking and ending weeks of uncertainty for the lenders’ more than 100,000 employees.

Qantas is likely to extract a 20% premium from passengers on the world’s longest direct flights when it launches nonstop services connecting Sydney with New York and London in late 2025.

Saudi Arabia pledged an additional production cut in July to stabilize the oil market, ceding ground to two of its key allies — Russia and the United Arab Emirates — which made no commitment to curb further.

UBS Group AG is looking to retain more than 100 Credit Suisse Group AG investment bankers across Asia, seeking to shore up talent in markets where its Swiss rival has stronger presence, according to people familiar with the matter.

President Joe Biden’s signature of legislation suspending the federal debt ceiling has given the Treasury Department the green light to resume net new debt issuance after months of disruption.

One of the UK’s biggest business groups has positioned itself to replace the Confederation of British Industry a day ahead of a crunch vote to determine the future of the scandal-hit organization.