Banking

Bloomberg Barclays Plc is on a hiring spree to boost its investment banking and market operations in Japan, one year after it shut its cash equity business and cut 120 jobs. The UK firm plans to hire more than 10 bankers and sales staff this fiscal year to advise on mergers and sell investment products, Kentaro Kiso, president of Barclays ...

Bloomberg While the Bank of Japan (BOJ) faced down the market with its offer to buy an unlimited amount of bonds, the battle over yield control may have only just begun. The swift action allowed the BOJ to quickly assert authority over the 10-year yield, bringing it down from a five-month high of 0.105 percent. The question is how far ...

Bloomberg The slower-than-expected increase in worker pay shows that investors should feel safe in Treasuries, even after yields jumped in the past two weeks, according to PGIM’s Robert Tipp. ‘Bonds are winning,’ Tipp, the chief investment strategist at PGIM Fixed Income, said on Bloomberg Television’s ‘Real Yield’ program. “The fact we haven’t had wage growth is really exceptional. I think ...

Bloomberg Singapore’s banking regulator has told lenders it will delay the implementation of global rules designed to rein in trading risks by a year, Reuters reported. The Monetary Authority of Singapore notified local banks of the delay to the so-called ‘fundamental review of the trading book,’ or FRTB, in a letter last month that also flagged a number of other ...

Bloomberg Morale among Deutsche Bank AG employees is showing signs of steadying after declining for three consecutive years, according to a person familiar with the company’s survey. Staff commitment to the Frankfurt-based lender was mostly unchanged from last year, at about 58 percent, the person said, asking not to be identified discussing the results. The survey, conducted in April and ...

Bloomberg Tesco Bank, the lending arm of the UK’s biggest grocer, said Chief Executive Officer Benny Higgins plans to retire next year after almost 10 years in the role. Higgins, who has led the bank since it became a wholly-owned subsidiary of Tesco Plc at the height of the financial crisis in 2008, will depart in February. He declined to ...

Bloomberg Thailand’s central bank held its benchmark interest rate near a record low, seeking to preserve policy room despite signs that the economy is heading deeper into deflation again. The one-day bond repurchase rate was left at 1.5 percent, with monetary policy committee members voting unanimously in favor, the Bank of Thailand said in Bangkok. All 21 economists surveyed by ...

Bloomberg Bank failures in Italy and the drawn-out rescue of Banca Monte dei Paschi di Siena SpA revealed the frayed edges in Europe’s patchwork of rules for dealing with firms in crisis, and fixes are needed to make the system work as intended, according to Elke Koenig, who makes the call on saving or shuttering major euro-area lenders. “Let’s try ...

Bloomberg Investors couldn’t sell Chinese banking giants fast enough this week. Industrial & Commercial Bank of China Ltd. (ICBC), Agricultural Bank of China Ltd. (ABC) and Bank of China Ltd. (BOC) posted their worst weeks since at least June 2016, while China Construction Bank Corp. (CCB) fell for a fifth consecutive week. The lenders were among the biggest decliners on ...

Bloomberg European Central Bank (ECB) policy makers continued to air their differences over when to rein in stimulus, sending conflicting signals on whether pumping cash into the economy for much longer will help the euro area or hurt it. “Underlying inflationary pressure remains subdued” and “we still need a long period of accommodative policy,” Executive Board member Peter Praet, the ...