Banking

Bloomberg Australia’s central bank (RBA) said further policy easing is likely to “gain more traction” as restrictions are lifted across the economy and agreed the governor would flag the shift to targeting actual over forecast inflation. “As the economy opens up, members considered it reasonable to expect that further monetary easing would gain more traction than had been the case ...

Bloomberg Environmental activists and economists claim there’s a way for the European Central Bank (ECB) to account for climate risks in its stimulus programs without the time-consuming preparatory work officials often say is needed. Just last week, ECB President Christine Lagarde said her institution must question whether “market neutrality” is appropriate in light of environmental risks. As far as researchers ...

Bloomberg Goldman Sachs Group Inc. sent some workers at its London office home after two employees tested positive for Covid-19. The staffers work on the fourth and fifth floors of Plumtree Court, and their close contacts have been notified, according to a memo sent to staff last week. The two employees, who last were in the building, are in self-isolation, ...

Bloomberg Signs of a recovery for India’s troubled shadow banks have taken a step backward as concerns reemerged about the true impact of the pandemic on the lenders. Average spreads on the lenders’ AAA rated five-year bonds rose for the first time in four months in September. Of three other gauges tracking shadow bank sector health compiled by Bloomberg, two ...

Bloomberg The Bank of Japan (BOJ) will keep policy steady at its meeting next week and extend the duration of its Covid response measures by January at the latest, according to surveyed economists. All but one of 43 analysts polled by Bloomberg expect the central bank to stand pat at the two-day gathering ending on October 29. The economists see ...

Bloomberg The European Central Bank (ECB) must question whether mirroring the composition of the bond market in its asset purchases is appropriate in light of climate risks, according to President Christine Lagarde. Her argument centers on whether investors are correctly pricing bonds issued by polluting companies. With the European Union pushing an aggressive agenda to make the continent climate-neutral by ...

Bloomberg HSBC Holdings Plc is exploring whether to cut ties with dozens of French companies as part of its sweeping global restructuring. The lender’s French unit may drop 40 businesses, according to an internal document prepared by external consultants and seen by Bloomberg News. The plan would shrink its French corporate client base by a fifth. The proposed reductions aim ...

Bloomberg Italy’s plan to sell bailed-out lender Banca Monte dei Paschi di Siena SpA has become more complicated following the convictions of the bank’s former chairman and chief executive for false accounting and market manipulation. The sentence landed just as the government was seeking to take advantage of a wave of consolidation in the financial sector to sell its majority ...

Bloomberg JPMorgan Chase & Co., in its third quarter under the shadow of the pandemic, showed that the surge in trading is holding up — and so are borrowers. The biggest US bank posted a surprise increase in earnings, fueled by a 30% jump in markets revenue as elevated volume kept its stock and bond traders busy. The lender also ...

Bloomberg Bank of America Corp. (BofA) inched closer to its diversity goals last year, and said it recognises more needs to be done. Racial and gender representation increased in most areas of the company, including among senior management, according to data by the bank. Still, the percentage of women in the top three tiers of the firm remained unchanged from ...