Bloomberg JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the UK to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany. The US bank plans to finish the migration of the assets to its Frankfurt-based subsidiary by the end of ...

Bloomberg Banks from Goldman Sachs Group Inc. to HSBC Holdings Plc have hit pause on plans to return workers in London after Prime Minister Boris Johnson appealed to Britons to work from home to help tame a resurgent coronavirus. Goldman Sachs is encouraging its London employees to go back to working remotely if possible, though its Plumtree Court office will ...

Bloomberg The Bank of Thailand held its benchmark interest rate unchanged for a third straight meeting to save its limited policy space, allowing fiscal policy to take the lead in reviving an economy headed for its worst annual performance ever. The central bank kept the policy rate unchanged on Wednesday at 0.5% in a unanimous decision, after lowering rates three ...

Bloomberg New Zealand’s central bank said it may launch a new stimulus tool this year to further reduce borrowing costs, a precursor to taking interest rates negative in 2021. The Monetary Policy Committee favours introducing a Funding for Lending Program for banks “before the end of 2020,” the Reserve Bank said on Wednesday in Wellington after holding the official cash ...

Bloomberg India’s central bank will continue to intervene to prevent any sharp appreciation in the rupee, even after signs of leniency towards currency gains in recent weeks, according to ICICI Bank Ltd. The Reserve Bank of India’s (RBI) forex strategy has been in sharp focus after it stepped away from dogged dollar buying amid large inflows. The perception that the ...

Bloomberg Credit Suisse Group AG Chief Executive Officer (CEO) Thomas Gottstein said he expects the wealth management business to slow down in the third quarter while revenue and trading will keep pace with earlier this year. Speaking at a virtual Bank of America Corp. conference, the CEO said he expects banking consolidation to pick up, but cautioned that international deals ...

Bloomberg European stocks bounded higher with US futures as equity markets built upward momentum after the September selloff cut valuations. The dollar extended its rebound. The Stoxx Europe 600 rises the most in two weeks on gains in airline, media and auto shares. Contracts on the blue-chip Dow Jones Industrial Average outperformed those on the Nasdaq 100 as investors turned ...

Bloomberg Indian stocks fall, with the benchmark gauge set for its longest string of losses in six months. The S&P BSE Sensex dropped 0.3% to 37,611.34 as of 1:36 pm in Mumbai, erasing an earlier gain of as much as 1%. The NSE Nifty 50 Index lost 0.5% as both measures headed for a fifth day of declines. A measure ...

Sharjah / WAM In line with the Ministry of Health and Prevention’s (MoHAP’s) plan to get frontline health workers vaccinated against the coronavirus, a number of health officials have taken the first dose of Covid-19 vaccine. Following the UAE’s authorisation of the use of the vaccine by frontline workers, MoHAP has also started administering the vaccine to medical and nursing ...

ABU DHABI / WAM Barings, one of the world’s leading financial services firms, on Tuesday announced that it has formed the Barings Mubadala Enterprise (BME) – an evergreen origination platform seeking to provide financing solutions to European middle-market businesses. BME and its capital partners aim to provide $3.5 billion in financing over the next 18 months to help meet growing ...