Banking

Bloomberg Canada hired HSBC Holdings Plc and Toronto-Dominion Bank (TD) for its inaugural sale of green bonds, joining other nations including the UK and Germany in pursuing environmentally-friendly debt issuance. The banks will advise on the design of Canada’s green bond framework, assist in the development of an ongoing program and support the debut issuance, according to statements. The country ...

Bloomberg The European Union (EU) drummed up 107 billion euros ($130 billion) of orders for its debut bond sale under the recovery fund, the first sign that investor appetite is robust for the AAA-rated securities. Danske Bank A/S and ABN Amro Bank NV expect the EU to raise 10 billion euros or more from the sale of 10-year debt, with ...

Bloomberg Nordea Asset Management says it’s trying to slow the flow of cash into its global climate fund amid seemingly insatiable demand for clean assets. To “protect the interests of all shareholders and to ensure the continued efficient management of the fund,” Nordea plans to cap daily subscriptions and conversions at 1 million euros, effective June 25, it said on. ...

Bloomberg The Czech Republic should kick off interest-rate increases this month to prevent the factors driving global inflation from sending consumer prices spiralling out of control, central banker Tomas Holub said. The country is among a handful of EU states taking a hawkish stance in debate over whether surging inflation is temporary and outside of central banks’ influence or a ...

Bloomberg Bank of America Corp (BofA) has made a number of changes to the leadership of its natural resources unit in Europe and North America. The bank has named Maria Garijo del Cura and James Sleeman co-heads of Europe, Middle East and Africa natural resources investment banking, based in London, according to an internal memo from Ray Wood, the bank’s ...

Bloomberg Nigeria’s government is in talks with Standard Chartered Plc (StanChart) about arranging funding for two rail projects expected to cost as much as $14.4 billion, replacing earlier plans to source the loans from Chinese banks, Transport Minister Rotimi Amaechi said. President Muhammadu Buhari’s administration and the London-based lender are discussing financing for the upgrade of a narrow-gauge track in ...

Bloomberg Some European Central Bank (ECB) officials issued warnings about higher rates of inflation, just a day after agreeing to keep monetary stimulus flowing at an accelerated pace through the summer. Austrian Governor Robert Holzmann went so far as to say that if euro-area price growth exceeds 3%, then policy makers would need to consider acting. He said the possibility ...

Bloomberg Indian monetary policy makers are tolerating inflation rates higher than their 4% medium-term target while they focus resources on an economic rebound. Economists see the Reserve Bank of India (RBI) taking a grin-and-bear it approach to price pressures as it seeks to help Asia’s No. 3 economy recover from one of the world’s worst coronavirus outbreaks. The RBI has chosen ...

Bloomberg Toronto-Dominion Bank (TD) was found not liable for losses related to convicted fraudster Allen Stanford’s Ponzi scheme, with an Ontario judge rejecting a $4.5 billion negligence claim against the firm. The lender doesn’t need to pay the claim filed by trustees trying to recover losses from Stanford investors because Toronto-Dominion “did not know or have any reason to suspect ...

Bloomberg Goldman Sachs Group Inc inked a partnership with Visa Inc as it builds out its newly formed transaction banking arm. The bank is using Visa capabilities that allow Goldman’s corporate clients to easily send and track high-value payments to other businesses overseas, according to a statement on Monday. Goldman agreed to the deal after talking with more than 100 ...