Bloomberg Business

Pictet, PineBridge Undeterred as China Stocks Erase 2023 Gains

Pictet Wealth Management, PineBridge Investments and BNP Paribas Asset Management are among a shrinking minority of global investors betting that patience will reward investors in China, even as this year’s gains in the nation’s stocks evaporate.

BofA to Ask About 40 Bankers in Asia to Find Jobs in Other Units

Bank of America Corp. plans to ask about 40 bankers in Asia to look for jobs in other divisions as it looks to manage the industry-wide decline in dealmaking while trying to avoid headcount reduction, a person familiar with the matter said.

Biden Pressed to Limit Hydrogen Credits Key to New Industry

Some Senate Democrats are pushing the Biden administration to impose tough limits on hydrogen tax credits they say will ensure the fuel lives up to its climate-fighting potential. Hydrogen advocates warn that could end up stifling the nascent industry instead.

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