Banking

  Bloomberg Chinese authorities are facing an uphill battle convincing companies and households to boost borrowing as long as Covid outbreaks and lockdowns continue to crush confidence. After loan growth weakened in April to the worst level in almost five years, several indicators suggest the data for May won’t be much better. Housing sales have continued to slump, indicating a ...

Bloomberg European Union (EU) countries are set to cut Russia’s largest lender Sberbank off the SWIFT international payments system, as the bloc readies a sixth package of sanctions against Russia for its invasion of Ukraine. The proposed restrictions also target Credit Bank of Moscow and the Russian Agricultural Bank, according to people familiar with the discussions. The EU, the US ...

  Bloomberg Credit Suisse Group AG is in the early stages of considering its options to strengthen capital, Reuters reported, citing two people with knowledge of the matter. The size of the increase would likely exceed 1 billion Swiss francs, but this has not yet been determined, one of the people told Reuters. A sale of a unit, such as ...

  Bloomberg BNP Paribas SA announced a plan to hire as many as 7,000 people in France this year, as the lender implements a strategy to drive growth through technology and sustainable finance. The recruitment effort will focus on retail and corporate services, IT and support functions, as part of its strategy through 2025, the bank said in a statement ...

  Bloomberg National Bank of Canada’s fiscal second-quarter results got a boost from a surge in trading as recession fears roiled the markets. Revenue in the financial-markets unit rose 7.7% to C$632 million ($496 million) in the three months through April, the Montreal-based lender said. That beat analysts’ C$524.4 million average projection. Overall profit also topped estimates. Escalating concerns that ...

  Bloomberg A dramatic increase in the size and complexity of crypto markets means the sector is on track to become a risk for financial stability that must urgently be regulated, the European Central Bank (ECB) said. While recent volatility has not proved contagious to the rest of the global financial system, the threat is increasing with institutional investors increasingly ...

  Bloomberg China will allow foreign institutional investors to trade bonds on its smaller exchange market in its latest step to attract more capital inflows by opening its financial markets, after a record selloff of Chinese holdings by foreign investors. Qualified foreign institutional investors, which can include central banks, sovereign funds, commercial banks and pension funds, will be allowed to ...

Bloomberg The European Central Bank’s debate over how aggressively to tighten monetary policy is likely to intensify this week in the prelude to a pre-decision blackout period as data probably show a new record for inflation. All but one economist surveyed by Bloomberg foresee an acceleration in annual price increases, with the median estimate at 7.8%. Out of the four ...

  Bloomberg Citigroup Inc is advising investors to limit exposure to the yuan and remains cautious on emerging markets more broadly, saying China hasn’t done enough to ease the risk that its economic slowdown will threaten growth worldwide. China’s deepening slump, fears of a US recession and the Federal Reserve’s moves to shrink its balance sheet mean that any correction ...

  Bloomberg HSBC Holdings Plc has been examining an initial public offering of its Indonesian business to tap buoyant investor demand in the world’s fourth-most populous country. Plans for a share sale in Jakarta are at an advanced stage, said people familiar with the plan, asking not to be named discussing an internal matter. It has yet to file a ...