Banking

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 ...

BLOOMBERG  Morgan Stanley is letting go of at least six managing directors, including some key China bankers, as part of broader job cuts in Asia where dealmaking has been stymied by growing China-US tensions and tepid economic growth. Clarence Kwok, who’s focussed on mergers and acquisitions in China, Julia Xiao in corporate finance, and Tony Yin on the technology coverage ...

BLOOMBERG  The Bank of Japan (BOJ) will gradually build a case for a major overhaul of its stimulus framework in the second-half of next year, using the results of a review to support its move, according to Bloomberg Economics (BE). Governor Kazuo Ueda is aware that the current yield curve control stimulus framework is unsustainable, as it distorts prices, lacks ...

BLOOMBERG  Mitsubishi UFJ Financial Group Inc raised 570 billion yen ($4 billion) worth of debt in what is Japan’s biggest yen bond deal this year. With yields rising, the lender offered a coupon of 2.127% on the perpetual non-callable 10-year and one-month Additional Tier 1 (AT1) bonds, underwriter Mitsubishi UFJ Morgan Stanley Securities Co said. That’s the highest coupon on ...

BLOOMBERG  Euro-area lenders count on financial firms from outside of banking for about 14% of their funding — underlining how the industry is exposed to potential turmoil in sectors that aren’t subject to strict regulatory oversight. Unsecured deposits make up the largest part of those liabilities, followed by debt securities and repo funding, European Central Bank (ECB) researchers said in ...

BLOOMBERG  Deutsche Bank AG sees the current slump in mergers and acquisitions (M&A) as an opening to boost ranks and take back some market share from Wall Street rivals. The German giant has signed on M&A veterans from peers including Bank of America Corp, Credit Suisse Group AG, Lazard Ltd and Citigroup Inc over the past couple of months and ...