Bloomberg Business

AIA Group Ltd. posted a jump in the value of new business as the exit of Hong Kong and China from pandemic restrictions helped support the insurer’s key gauge of profitability.

Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co. and UBS AG agreed to pay nearly $500 million to settle an antitrust class action by US pension funds over the banks’ control of the market for stock loans used for hedging and short selling.

Indonesia’s central bank is expected to leave the benchmark interest rate unchanged as jitters over steeper US rates turn up the pressure on the rupiah.

China’s $2.9 trillion trust industry is emerging as yet another threat to the world’s second largest economy.

Paraguay became the latest Latin American country to lower borrowing costs with a quarter of a percentage point cut to its benchmark interest rate after inflation undershot the central bank’s target in July.

R. Kelly’s royalties of more than $500,000 held by Universal Music Group NV must be turned over to his sexual-abuse victims, a US judge ruled.

Stocks climbed the most since June, while bond yields fell after economic reports in both the US and Europe fueled bets that major central banks will pause their interest-rate hikes to prevent a recession.