Banking

  Bloomberg Danske Bank lowered forecasts for next year’s economic growth across the Nordics, as supply chain constraints and labour shortages could impede the region’s rebound. “The lack of supply of materials and equipment is a limitation for many Nordic businesses,” Danske said in its Nordic Outlook report. “We expect these constraints to ease as global demand swings back towards ...

  Bloomberg JPMorgan Chase & Co, one of Wall Street’s staunchest advocates of returning to Manhattan skyscrapers, is offering employees the option of working from home in the opening weeks of 2022, and Citigroup Inc (Citi) and Bank of America Corp (BofA) are encouraging staff to log on remotely, as more financial firms grapple with the latest surge in Covid-19 ...

  Bloomberg Banco Santander SA is racing to retrieve 130 million pounds ($175 million) paid out to thousands of British customers in a Christmas Day slip-up. Spain’s biggest lender accidentally made a second payment on December 25 to about 75,000 people and firms who had been due for one-off or programed payments from 2,000 businesses with accounts at its UK ...

  Bloomberg The Swiss National Bank (SNB) bought foreign exchange worth 2.8 billion francs ($3.1 billion) in the third quarter just before the franc began a sharper appreciation against the euro. The franc broke through a key level of 1.04 per euro and continued to strengthen towards 1.03 during final days of 2021. That might challenge the central bank’s description ...

  Bloomberg UBS Group AG was sued by a couple who said the Swiss bank should not have disclosed the wife’s account information to the Internal Revenue Service (IRS) because she was not a US. citizen. Jonathan and Esther Zuhovitsky said in a suit filed in Manhattan federal court that they endured an intense audit as result of the disclosure ...

  Bloomberg Credit Suisse Group AG has started a probe into Chairman Antonio Horta-Osorio over his recent breach of Swiss quarantine rules, Finews reported, citing two people with knowledge of the matter. Romeo Cerutti, the bank’s top lawyer, is overseeing the probe, according to Finews, which added that it was unclear who initiated the proceedings. Board discussions on the matter ...

  Bloomberg The Philippine peso dropped beyond 51 per dollar for the first time since April 2020 amid speculation the nation’s trade deficit will widen as domestic demand improves. The peso falls as much as 0.5% to 51.27, the weakest level since March 2020. The currency is the worst performer in emerging Asia over the past month with a loss ...

  Bloomberg Two senior analysts at Nordea Bank Abp who wrote a controversial research report criticising coronavirus measures including national lockdowns are to leave the bank. An offer had been made to Chief Analyst Martin Enlund and Global Chief Strategist Andreas Steno Larsen to continue at Nordea Markets, “but they have decided to leave,” the bank said in a statement. ...

  Bloomberg Indian investment bankers are set for their best year ever, collecting almost 26 billion rupees ($347 million) in fees from local initial public offerings (IPOs) that have reached an all-time high in 2021. A little over 110 companies ranging from online grocers to food delivery and beauty start-ups listed their shares in Mumbai this year, raising almost $18 ...

  Bloomberg The Bank of Japan (BOJ) is on course to buy the smallest amount of local equity this year since former Prime Minister Shinzo Abe took office, a far cry from last year’s record haul during the height of pandemic. The BOJ purchased a total of 873.4 billion yen ($7.6 billion) in exchange-traded funds through December 27, according to ...