Banking

  Bloomberg The rally in the Hong Kong dollar extended, with the currency strengthening to the strong half of its trading band as rising borrowing costs discouraged traders to short it. The currency rose about 0.15% to 7.7986 per dollar Wednesday, passing the midpoint of its 7.75-7.85 trading band for the first time since February. The surge came as the ...

Bloomberg HSBC Holdings Plc shares rose after the lender agreed to sell its Canadian unit for C$13.5 billion ($10 billion) in cash and said it’s “proactively” considering a one-time dividend or fresh stock buyback. The shares gained 2.2% in Hong Kong, the biggest gain since November 15. The London-headquartered lender’s dividend payout is an important focus for Hong Kong’s retail ...

Bloomberg Binance, the world’s biggest cryptocurrency exchange, bought a Japan crypto exchange service provider to re-enter a market it said will play a “key role” in the future of cryptocurrency adoption. The firm acquired 100% of Sakura Exchange BitCoin, paving the way for it to enter Japan as a regulated entity, Binance said in a statement on Wednesday. The purchase ...

  Bloomberg Thailand increased its key interest rate by a quarter point for a third straight meeting and raised its inflation estimate for 2023 while reiterating it’s ready to adjust the size and timing of its tightening. The Bank of Thailand’s monetary policy committee voted unanimously to raise the one-day repurchase rate by 25 basis points to 1.25% on Wednesday, ...

  Bloomberg Deutsche Bank made its first hire of a base metals trader as the German lender plots a partial return to the business about a decade after pulling back. Thiebaud Format will join Deutsche Bank in London from BNP Paribas SA, according to people familiar with the matter. He will work on the existing precious metals desk but his ...

  Bloomberg Goldman Sachs group Inc is shifting some of its euro swaps trading desk to Milan from London, the latest example of roles moving to the continent after Brexit. The Wall Street giant is relocating staff as it bolsters European offices in the wake of the UK’s departure from the European Union, according to people familiar with the matter. ...

  Bloomberg Ireland is said to be planning to allow banks that were bailed out during the financial crisis to pay bonuses to staff, ending a long-standing ban. A retail banking review will be brought to Ireland’s cabinet and will be published if it is approved, according to the Department of Finance. Bonuses will be one of the issues the ...

  Bloomberg Lloyds Banking group Plc is stepping up help for struggling customers, including mortgage relief, during the UK’s heightened economic stress, according to Chief Executive Officer Charlie Nunn. The bank is talking to British regulators about lengthening the terms of some mortgages as well as moving some customers to interest-only loans or lower-cost products as they adjust to the ...

  Bloomberg Royal Bank of Canada agreed to buy HSBC Holdings Plc’s Canadian unit — the country’s seventh-largest bank — for C$13.5 billion ($10 billion) in cash, expanding its roster of business clients and bulking up its retail presence on the West Coast. The deal is expected to be completed by late 2023, subject to regulatory approvals, Toronto-based Royal Bank ...

  Bloomberg India’s central bank will launch the retail version of its digital currency on a test basis starting Thursday, a month after allowing some banks to use it for settling secondary-market transactions in government securities. Four banks will initially run the digital currency pilot, with another four joining at a later stage, the Reserve Bank of India (RBI) said in ...