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February 4, 2022 Banking
Bloomberg Danske Bank falls the most in three months in Copenhagen trading after cost-cutting measures by Denmark’s biggest bank failed to yield the results expected by the market. The shares slid almost 6% before regaining some ground to trade down 3.3% in the Danish capital. The bank’s guidance on costs for this year was worse than expected, Jyske Bank ...
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February 4, 2022 Banking
Bloomberg Bank of America Corp (BofA) sold $9 billion of bonds, joining Wall Street peers in a flood of new deals at the start of 2022 to beat an expected rise in interest rates. The lender sold bonds in five parts, according to a person familiar with the matter. The longest portion, an 11-year fixed-to-floating-rate security, yields 117 basis ...
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February 4, 2022 Banking
Bloomberg Mexico’s central bank will probably raise the key interest rate this month, and then follow inflation data and US Federal Reserve decisions closely to decide its next moves, Banxico board member Jonathan Heath said. The debate for February’s decision will be whether to increase borrowing costs by a quarter point or half a point, he noted in a ...
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February 4, 2022 Banking
Bloomberg Banca Monte dei Paschi di Siena SpA said it will review the position of its chief executive next week, signalling a response to government pressure to replace him amid talks with the European Union (EU) over the nationalised bank’s future. The bank announced that “an item of corporate governance†concerning Chief Executive Officer Guido Bastianini had been added ...
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February 3, 2022 Banking
Bloomberg Citigroup created a new team inside its trading division that will focus on working more closely with minority depository institutions and diverse broker dealers and asset managers. The firm’s new diverse financial institutions group team will be led by Harold Butler, a senior banker who spent 16 years covering the US Treasury Department and the Federal Reserve System ...
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February 3, 2022 Banking
Bloomberg Thailand is preparing rules for the setting up of virtual banks, set to join peers including Singapore and Malaysia in promoting financial technology to spur competition and wider access to banking services. The Bank of Thailand (BOT) plans to issue guidelines for digital banks by June and may allow existing lender and new applicants to seek licenses, Assistant Governor ...
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February 3, 2022 Stocks
Bloomberg The rally in global stocks faltered following disappointing earnings from technology bellwethers and as traders await more clues on how quickly key central banks will tighten the monetary policy. US equity futures dropped, with contracts on the technology-heavy Nasdaq 100 losing 1.8%, after Facebook parent Meta Platforms Inc and streaming service Spotify Technology SA plunged in late trading ...
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February 3, 2022 Stocks
Bloomberg Warren Buffett’s surprise bet on Japan’s trading houses is paying off as the companies expect a record-breaking rebound in profits. The trading companies, known as “sogo shosha†in Japan, boosted their net income outlook after the rebound in prices of everything from crude oil to iron ore. Buffett shocked the world in 2020 when Berkshire Hathaway Inc announced ...
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February 3, 2022 News
Bloomberg Oil retreated from a fresh seven-year high as Opec+ agreed to another modest hike in output and Iran said its ready to supply markets quickly if sanctions are removed. West Texas Intermediate edged lower 0.2% after hitting its highest level since 2014 earlier in the session. Global benchmark Brent traded near $89 a barrel, with prices steeply backwardated ...
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February 3, 2022 Local News, News
Abu Dhabi / WAM The UAE has welcomed the apology made by Mohamed Hussein Roble, Prime Minister of the Federal Republic of Somalia, for the incident that took place at Mogadishu Airport in April 2018, involving seizure of funds and aid sent to support the people of Somalia. The Ministry of Foreign Affairs and International Cooperation said in a ...
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