YIELDS ON term deposits continued to slip on Wednesday despite lower bids, with the market expecting monetary easing this quarter, as hinted on by the central bank chief.

UBS GROUP AG started a sweeping round of job cuts at its global wealth management unit in Europe and Asia, targeting dismissals across-the-board as new co-head Iqbal Khan seeks to make his mark on the business.

LONDON — Many banks in Britain are unlikely to hit an October deadline to stop writing loans tied to the discredited Libor benchmark as they grapple with upgrading to crucial new software that allows them to use replacement reference rates, industry sources said.

SEOUL — South Korea’s central bank is expected to keep its policy rate unchanged at its rate review this week, a Reuters poll showed on Wednesday, although views are split on whether there will be further easing this year.

THE FEDERAL RESERVE Bank of New York said on Tuesday it will continue to inject liquidity into the overnight lending markets for cash until at least mid-February while slightly reducing offerings on longer term loans.

CITIGROUP, Inc. beat analysts’ estimates for fourth-quarter profits on Tuesday, boosted by growth in its credit card business and a jump in trading revenue.

THE PESO weakened on Wednesday amid risk-off sentiment in the market due to the US signaling it will only consider further reductions in Chinese tariffs after the elections in November.

THE GOVERNMENT partially awarded the Treasury bills (T-bills) it auctioned off yesterday as rates increased across-the-board following the uptrend in inflation and the possible uptick in global oil prices due to geopolitical tensions abroad.

WASHINGTON — The US Treasury department on Monday dropped its designation of China as a currency manipulator days before top officials of the world’s two largest economies were due to sign a preliminary trade agreement to ease an 18-month-old tariff war.

PHILIPPINE SAVINGS Bank (PSBank) raised P4.65 billion from its latest bond issuance, cutting short its offer period on Monday for the three-year fixed- rate bonds due to strong demand.

BANK of the Philippine Islands (BPI) is looking to raise up to P3 billion through the issuance of peso-denominated fixed-rate bonds.

WHEN CITIGROUP, INC. combined businesses that cater to big companies in 2018, management wanted dealmakers, traders and traditional corporate bankers to combine forces and propel Citi toward the top of Wall Street market-share rankings.