Banking

BLOOMBERG Traders are betting for the first time that the European Central Bank (ECB) will extend its rate-hiking cycle into 2024, leading to a selloff in German debt that took yields to the highest in more than 11 years. Swap-market pricing shows they briefly wagered the ECB will raise its deposit rate to as much as 3.9% in February 2024. ...

BLOOMBERG Japan Post Holdings Co plans to sell 1.3 trillion yen ($9.5 billion) of shares in its banking unit, the latest step in the postal group’s privatisation. The former state-run mail and financial services giant is seeking to sell about 975 million shares in Japan Post Bank Co, a Ministry of Finance filing showed. The offer to domestic and international ...

BLOOMBERG Goldman Sachs Group Inc’s leaders take the stage hoping to turn the page on a forgettable 2022, lay out new reasons for investors to rally around the stock and quell dissatisfaction within the firm’s ranks. After a year in which profits slumped by half and a consumer-banking strategy unraveled, executives plan to offer a more forceful case for shareholders ...

BLOOMBERG Analysts at Goldman Sachs Group Inc are reluctant to call the worst is over for the shekel after a “significant” risk premium built up in the Israeli currency as a result of domestic political turmoil. The currency’s close correlation with global technology stocks began to break in late January, a deviation that’s continued despite the central bank’s larger-than-forecast hike ...

BLOOMBERG Argentine officials intend to lower a key target in the country’s $44 billion agreement with the International Monetary Fund (IMF) as a severe drought weakens the economic outlook, according to an Argentine government official. Both sides are discussing a smaller figure for net reserve accumulation in 2023, a cornerstone of the deal seen as the only major anchor providing ...

BLOOMBERG HSBC Holdings Plc is looking for a new global headquarters less than half the size of its current space in London’s Canary Wharf, according to the Sunday Times. The bank is considering a new head office of between 400,000 and 500,000 square feet, the newspaper reported. HSBC has been reviewing its workplace needs once its current lease ends in ...

BLOOMBERG The European Central Bank (ECB) will raise interest rates as high as necessary to bring inflation back down to 2%, said Governing Council member Ignazio Visco. It’s impossible for now to say what level borrowing costs will have to reach to achieve that target, Visco, who also heads Italy’s central bank, said in a Bloomberg TV interview. Policy will ...

Bloomberg Deutsche Bank AG looked at buying parts of Credit Suisse Group AG assets as recently as last fall after the Swiss firm became engulfed by a series of scandals and financial hits, according to people with knowledge of the matter. The German lender analysed individual businesses such as the Swiss firm’s asset management and wealth management units, people familiar ...

  Bloomberg Goldman Sachs Group Inc said that investigations and inquiries into its credit-card business has expanded beyond the Consumer Financial Protection Bureau (CFPB) to include other government agencies. The bank, which has card tie-ups with Apple Inc and General Motors Co, made the disclosure in a regulatory filing. It had said last year that the CFPB is looking into ...

  Bloomberg South Africa’s rand is on track for a sixth consecutive week of declines versus the dollar — but there are indications the selloff may be about to ease. One of this year’s worst emerging-market performers, the rand has carried a heavy risk premium amid concerns about the nation’s growth as state-owned power company Eskom Holdings SOC Ltd deploys ...