Banking

  Bloomberg India could attract close to $10 billion in renewable energy investment in 2023, a bright spot as public markets remain largely shut to big-ticket capital raising, according to Bank of America Corp’s top executives in the country. Deals and investments will continue to flow into areas such as electric vehicles and green hydrogen, Kaku Nakhate, the lender’s president ...

  Bloomberg The Bank of England (BOE) has recommended the UK take swift regulatory action to strengthen the pensions market after recent bond market turmoil exposed shortcomings in its oversight. The central bank’s Financial Policy Committee said the pensions regulator and Financial Conduct Authority (FCA) should work with overseas regulators to ensure liability-driven investment (LDI) funds are more resilient to ...

  Bloomberg Goldman Sachs Group Inc aims to cut at least a few hundred more jobs as the Wall Street titan restructures its struggling consumer business and braces for an uncertain economy in the year ahead. The bank is drafting plans that could eliminate at least 400 positions from its loss-making retail banking operations, according to people familiar with the ...

  Bloomberg A sharp increase in China’s Covid infections following an abrupt end to strict pandemic control measures suggests investors may need to pare back on reopening trades, according to Morgan Stanley. “We would recommend that investors put on hedges in the markets where investors are almost fully pricing in reopening trades,” strategists including Min Dai and Gek Teng Khoo ...

Bloomberg Credit Suisse Group AG lost two senior executives in China and Italy, adding to a string of departures as the troubled Swiss lender embarks on a comprehensive restructuring. Carsten Stoehr, chief executive officer of Greater China, is leaving Credit Suisse effective from December 15, according to an internal memo that was confirmed by a Hong Kong-based spokeswoman. He had ...

  Bloomberg Availability of credit as central banks hike interest rates along with the ability of Indian corporates to tap capital markets to raise funds will be key to driving growth in the local deal market, Amitabh Malhotra, head of global banking for HSBC India, said. “Indian companies are very robust in terms of their balance sheets, so I feel ...

Bloomberg The Philippine peso is heading for its best quarter in 15 years but the bulk of its rally may already be over. Growing headwinds facing the currency include accelerating inflation, rising oil import costs and a worsening trade balance. Technical signals also indicate the peso is approaching a level of resistance that may prove a barrier to further gains. ...

  Bloomberg US Treasury Secretary Janet Yellen says inflation will be much lower by the end of next year, as long as there are no unanticipated shocks to the economy. “I believe inflation will be lower,” Yellen said during an interview on CBS’ “60 Minutes.” “I am very hopeful that the labour market will remain quite healthy so that people ...

  Bloomberg Berenberg has laid off about 10 employees in New York, cutting the German investment bank’s headcount in the country by half over the past 12 months in a dramatic reversal of its previous growth plans. The staff worked for Berenberg’s US unit and they left in recent days, a spokesperson said in an emailed statement. Most of them ...

  Bloomberg China’s credit expanded at a slightly slower pace than expected in November after plunging in the previous month, despite efforts by the central bank to boost lending and ease restrictions on property loans. Aggregate financing, a broad measure of credit, was 2 trillion yuan ($287 billion) last month, the People’s Bank of China (PBOC) said, marginally below the ...