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HSBC to buy 50% stake in Chinese life insurance JV

Bloomberg HSBC Holdings Plc agreed to buy the remaining 50% stake in its Chinese life insurance venture as the Communist Party-ruled nation opens its financial markets. The lender will take full ownership of HSBC Life Insurance Company Ltd. after buying out its partner, The National Trust Ltd., according to an emailed statement. “This transaction supports our ambition to accelerate growth ...

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Virus adds to woes of Nigerian banks

Bloomberg Nigerian banks have more to worry about than the coronavirus: Cratering oil prices and the threat of another naira devaluation are emerging as the biggest risks to how many lenders will emerge unscathed. The industry has already agreed to forgo profit to support the economy as measures to contain the Covid-19 outbreak bring most businesses to a halt. Now, ...

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RBA to hold rates as it enters eye of storm

Bloomberg Australia’s central bank (RBA) passed up buying bonds last week in its already reduced QE schedule as the rate it targets appears anchored for now. The calm may prove brief as governments at home and abroad start issuing reams of paper to finance their massive fiscal stimulus. The Reserve Bank is expected to maintain its three-year yield target at 0.25% ...

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