Oct 21 (Reuters) - Bank of America ( BAC ) on Monday extended its guaranteed exchange rates by up to one year, the longest tenor in the industry, in an effort to reduce the risks to cross-currency transactions amid rising volumes. A locked-in foreign exchange spot rate would help companies mitigate exposure to currency fluctuations and simplify treasury management processes...

SHANGHAI/SINGAPORE (Reuters) -China cut benchmark lending rates as anticipated at the monthly fixing on Monday, following reductions to other policy rates last month as part of a package of stimulus measures to revive the economy. The one-year loan prime rate (LPR) was lowered by 25 basis points to 3.10% from 3.35%, while the five-year LPR was cut by the same...

Oct 21 (Reuters) - IBM ( IBM ) released the latest version of its artificial intelligence models catered towards businesses on Monday, looking to capitalize on the surge in enterprises adopting generative AI technology. Granite 3.0 models will be made open-source, similar to other versions in IBM's ( IBM ) Granite family of AI models. This approach differs from rivals...

Oct 21 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - Microsoft MSFT.O and the British government have agreed a memorandum of understanding giving public sector organisations access to Microsoft's ( MSFT ) portfolio of AI-powered products and...