Banking

BLOOMBERG  The Reserve Bank of India (RBI) left its key interest rate unchanged for a second meeting and retained its tightening stance, signalling rate-setters want to see inflation moderating further while weaker monsoon risks remain a concern. A six-member monetary policy committee voted unanimously to keep the benchmark repurchase rate at 6.50%. All 40 economists in a Bloomberg survey predicted ...

BLOOMBERG  Barclays Plc is seeking to sell about €5 billion ($5.3 billion) of Italian mortgage loans as part of plans to exit retail banking in the country. The UK bank has started the sales process for a portfolio of mostly performing loans to individuals, people with knowledge of the matter said. The package also includes non performing mortgages and high ...

BLOOMBERG  The Swedish population has become less hostile to the idea of adopting the euro as the krona is trading near its weakest levels ever. A poll published by Statistics Sweden showed 30.6% would vote in favour of adopting the euro. While 50.5% remains opposed to abandoning the krona, support for the common currency is now at its highest level ...

BLOOMBERG  Morgan Stanley plans to move to a new office in Singapore, seeking a bigger space in the city-state’s financial district to accommodate its expansion. The US firm is in advanced discussions for five floors at the upcoming IOI Central Boulevard Towers, which will give it certain signage rights, according to people familiar with the matter. The space, which will ...

BLOOMBERG  Wells Fargo & Co is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans. Lawyers for the bank and borrowers said they’ve agreed to work with a former federal judge to try to resolve a group of class-action lawsuits — ...

BLOOMBERG  UBS Group AG may delay releasing its second-quarter results until end-August when it could also provide an update on its plans for Credit Suisse Group AG’s local business, the Financial Times reported. UBS is due to report its earnings on July 25, but complexities include unfinalised details of government support in its emergency takeover of Credit Suisse and different ...

BLOOMBERG  Investors who took out long positions in the euro could be in for some respite, even as a shaky outlook for the economy continues to stalk common currency. Slowing inflation and fading optimism about the region’s growth sent the euro to its worst month since April 2022. Short-term bets against the euro using currencies other than the dollar are ...

BLOOMBERG  The European Central Bank (ECB) said that financial markets will be vulnerable to negative shocks as it continues the fight against inflation, with real estate among the sectors at risk. Higher interest rates are testing the resilience of households, companies, governments and property markets, the institution said on Wednesday in its biannual Financial Stability Review. That’s leaves investors potentially ...

BLOOMBERG  Thailand’s central bank raised its benchmark interest rate to the highest level in eight years, while making a case for retaining a tightening bias to anchor inflation firmly in the tourism-fuelled economy. The Bank of Thailand’s (BOT) Monetary Policy Committee (MPC) voted unanimously to raise the one-day repurchase rate by 25 basis points to 2% on Wednesday, as seen by ...

BLOOMBERG  Citigroup Inc has begun to see signs of a rebound in investment banking, with an agreement to avert a US debt default poised to further boost deal volumes. The company had already begun to see a pickup in both investment-grade debt and equity underwriting, Tyler Dickson, co-head of Citigroup’s banking, capital markets and advisory unit, said in a Bloomberg ...