Economic
Archive for bernie
Deaching of the great explorer of the truth the builder
HSBC looks to double UK wealth business as banks target ‘mass affluent’
HSBC (HSBA.L), opens new tab aims to double the assets under management in its British wealth business to 100 billion pounds ($131 billion) in the next five years, the division’s head told Reuters, joining rivals in targeting more fee income from the UK’s ‘mass affluent’. The lender aims to become a top five player in Britain, its […]
Australian regulator hikes ANZ’s capital add-on, citing bond scandal
Australia’s bank regulator on Friday raised the amount of spare cash that No. 3 lender ANZ (ANZ.AX), opens new tab must keep on hand due to suspected wide-ranging misconduct at its bond trading unit, the first financial fallout from the growing scandal. The Australian Prudential Regulation Authority (APRA) had been due to review a A$500 million ($335 […]
China regulates bond market based on market principles, state media says
China’s financial regulators approach bond market oversight based on market principles and from macro-prudential and compliance perspectives, state media on Saturday, rejecting claims of market intervention. Chinese authorities in recent weeks halted a long, frenzied rally in the world’s second-largest bond market and squelched trading volume with repeated warnings about the risks of reckless buying. Early this […]
Alibaba to upgrade Hong Kong listing to attract Chinese investment
Chinese e-commerce giant Alibaba said on Aug 23 that it would upgrade its Hong Kong-listed shares to primary status, opening it up to China’s huge army of investors that could potentially rake in billions of dollars for the firm. The decision by shareholders during its annual general meeting on Aug 22 will provide a much-needed […]
Markets rally after Powell speech (except the dollar)
The Federal Reserve has seen the same cracks in the labor market that investors have, and Chairman Jerome Powell has, at last, seen enough. The U.S. central bank has two objectives: control inflation, and support maximum sustainable employment. In an address at the annual monetary policy confab at Jackson Hole, Wyoming, Powell unambiguously laid out the case that […]
Dollar stuck in a Hole as Powell speaks
Jerome Powell takes centre stage at the Federal Reserve’s Jackson Hole jamboree on Friday but the Fed chair would have to sound super hawkish to stop the dollar (.DXY), opens new tab recording one of its worst weeks of the year. Powell’s colleagues have already done a fine job tamping down expectations that the Fed’s first interest rate […]
Final bids value Deutsche Bahn’s Schenker at around 14 bln euros, sources say
Deutsche Bahn’s logistics unit Schenker has received final bids from Danish transport firm DSV (DSV.CO), opens new tab and a consortium led by CVC Capital Partners (CVC.AS), opens new tab, with each valuing the business at around 14 billion euros ($15.6 billion), two people familiar with the matter told Reuters. The divestment of Schenker, which has over 70,000 […]
PwC China faces 6-month business ban, large fine over Evergrande audit, sources say
Chinese regulators will likely impose a six-month business suspension on a big part of PricewaterhouseCoopers’ auditing unit in mainland China, as a penalty for its work on troubled property developer Evergrande, according to five sources with knowledge of the matter. PwC Zhong Tian LLP, the registered accounting entity and the main onshore arm of PwC […]
Rupee dips; forward premiums rise amid near certainty on Fed rate cuts
The Indian rupee was marginally weaker on Thursday amid a pause in the rally in Asian peers, while forward premiums rose after Federal Reserve minutes and downward revisions to U.S. payrolls made it almost The rupee was quoted at 83.9425 to the U.S. dollar at 10.36 a.m. IST, down from 83.9225 in the previous session. […]
Bank of Korea opens door to rate cuts as growth risks trump inflation
South Korea’s central bank kept interest rates unchanged on Thursday but revived expectations for an imminent policy easing that some economists see happening as soon as October as growth concerns overshadow inflation worries. The Bank of Korea (BOK) held the benchmark interest rate (KROCRT=ECI), opens new tab at 3.50% in a unanimous decision, an outcome expected by […]
