TOKYO (Reuters) -Japan's SMBC Nikko Securities said on Thursday that executives had been arrested and indicted for alleged market manipulation, following charges from the country's financial watchdog.

LONDON (Reuters) -Lloyd's of London faces major claims this year related to Russia's invasion of Ukraine, but this will not lead to solvency issues, the commercial insurance market said on Thursday.

China will exempt the 3% Value Added Tax (VAT) levied on some small firms, the country's main source of jobs, the finance ministry said on Thursday, to help shore up the world's second-largest economy.

New York has extended its lead among the world's top financial centres, with runner up London losing ground to increasingly competitive rivals in the United States and Asia, the Global Financial Centres Index (GFCI) showed on Thursday.

ZURICH (Reuters) -The Swiss National Bank has doubled its inflation forecast for this year, citing tensions including the Ukrainian war, but held fast to its expansive monetary policy on Thursday with the world's lowest interest rates.

Euro zone business activity has been stronger than expected this month, a survey showed on Thursday, although prices also rose at a record pace, likely adding to pressure on the European Central Bank to raise interest rates.