Banking

Bloomberg Incoming European Central Bank (ECB) President Christine Lagarde said central banks best operate in a regime of independence and President Donald Trump shouldn’t interfere with the US Federal Reserve. “Market stability should not be the subject of a tweet here or a tweet there,” Lagarde said in an interview with CBS ‘60 Minutes’ correspondent John Dickerson. It requires thought ...

Bloomberg Autopista Regis Bittencourt SA, a Brazilian toll road operator ultimately controlled by Italy’s Benetton family, has mandated three banks to sell as much as 1.7 billion reais ($408 million) of bonds in the local market. Banco BTG Pactual SA, Banco Itau Unibanco Holding SA and Banco do Brasil SA have been selected by the Registro, Sao Paulo state-based company ...

Bloomberg The Bank of Thailand is considering imposing additional measures to rein in the currency amid further gains in the baht to a six-year high and worries about economic growth. The economy could be more sensitive to greater currency appreciation, the Bank of Thailand said in minutes of the September 25 monetary policy committee meeting. This would be an “additional ...

Bloomberg India’s Monetary Policy Committee (MPC) was unanimous in its view that a deepening economic slowdown is worrying enough to keep interest rates low for longer, the minutes of its latest meeting show. The concern explains Governor Shaktikanta Das’s statement that the Reserve Bank of India (RBI) would keep its policy stance accommodative for as long as it is necessary ...

Bloomberg UBS Group AG’s Singapore investment banking chief Oi Yee Choo is set to join iSTOX, a trading platform backed by Temasek Holdings Pte. Choo will join iSTOX in January as its chief commercial officer and will help drive business growth by building its network of investors and issuers, according to a statement from the company, confirming an earlier Bloomberg ...

Bloomberg South Korea’s central bank warned that economic growth would be weaker than forecast after cutting its policy rate for the second time this year as a global downturn pummels exports and weighs on prices. The move comes amid a wave of rate cutting by central banks around the world to shore up growth and highlights the sense of urgency ...

Bloomberg Bank of America (BofA) Corp posted the biggest jump in investment-banking fees on Wall Street, helping profit overcome headwinds from lower interest rates. Third-quarter debt underwriting fees unexpectedly surged 19% and the firm’s fixed-income traders eked out a slight increase, pushing profit above analysts’ estimates. Its gains in advisory fees also surpassed rivals in the best quarter for the ...

Bloomberg Citigroup is calling for greater consistency in implementing regulations for the banking industry Africa and warned frequent changes will harm the sector. The bank’s business was one of 12 lenders Nigeria’s central bank penalised last month for failing to meet credit-provision targets. Citigroup was handed a 100.7 billion naira ($279 million) penalty out of a combined sanction of 500 ...

Bloomberg Ant Financial Services Group is seeking a syndicated loan of up to $3.5 billion at a lower rate, joining other Chinese technology giants in their bid to slash debt costs. The company is in talks with lenders for a $2.5 billion financing that comes with a $1 billion greenshoe option, according to people familiar with the matter. The price ...

Bloomberg Cryptocurrency investors better not take their eyes off China, even after regulators there started to crack down on digital assets. In recent months, over-the-counter crypto trading in China has exploded, just as Chinese spot traders began buying nearly all of their Bitcoin with the stablecoin Tether, according to a study by researcher Chainalysis Inc. Tether was used in 99% ...