Classic Layout

PBOC seen front-loading policy action amid economic threats

  Bloomberg China’s central bank has fuelled expectation it will ease monetary policy early this year with its vow to take proactive action to stabilise growth in 2022. A growing number of economists are predicting the People’s Bank of China (PBOC) will cut banks’ required reserves as well as policy interest rates in the first quarter, as fresh pandemic outbreaks ...

Read More »

HSBC’s private bank lures $3.2 billion into alternatives

  Bloomberg HSBC Holdings Plc’s private bank raised a record of about $3.2 billion for alternative investments from its clients globally in 2021, a jump of nearly 40% from the previous year, as the wealthy look to escape volatility and diversify their portfolios. Clients in Asia, where HSBC is targeting wealth management as a growth engine, added $1.9 billion for ...

Read More »

BOC set to keep Canadian dollar riding high into 2022

  Bloomberg The Canadian dollar is closing out 2021 as the only major developed-market currency to advance against the dollar, and a hawkish central bank in Ottawa should support the loonie further in 2022. Markets expect the Bank of Canada (BOC) to be one of the G-10’s most aggressive monetary authorities in tightening policy next year. Traders are currently pricing ...

Read More »

Credit Suisse wins court order to get data from SoftBank

  Bloomberg Credit Suisse Group AG won a court order permitting it to seek documents from SoftBank Group Corp as part of a lawsuit the Zurich-based bank has said it plans to file in England stemming from the collapse of Greensill Capital. A US Magistrate judge in San Francisco granted Credit Suisse’s request to serve a subpoena on SB Investment ...

Read More »

Peru lifts key interest rates to 3%

  Bloomberg Peru raised interest rates for a sixth straight month as inflationary pressure mounts amid the economy’s strong rebound from the pandemic. The central bank increased its policy rate by half a percentage point to 3% in line with the forecasts of five of seven analysts surveyed by Bloomberg. Two economists had expected a bigger increase, to 3.25%. “With ...

Read More »

Apple pays $180,000 bonuses to retain engineering talent

  Bloomberg Apple Inc has issued unusual and significant stock bonuses to some engineers in an effort to retain talent, looking to stave off defections to tech rivals such as Facebook owner Meta Platforms Inc. The company informed some engineers in silicon design, hardware, and select software and operations groups of the out-of-cycle bonuses, which are being issued as restricted ...

Read More »

Sony reveals PlayStation VR2 and a new Horizon game

  Bloomberg Sony Group Corp announced an exclusive game for its next-generation virtual reality (VR) headset, dubbed PSVR2, charging up the platform’s appeal just as metaverse hype intensifies. The Japanese entertainment and electronics giant introduced a teaser video for the title, from hit in-house franchise Horizon, while unveiling PlayStation VR2 with an upgraded headset and VR2 Sense controllers. Promising increased ...

Read More »

Samsung’s profit climbs by 50%

  Bloomberg Samsung Electronics Co’s quarterly profit climbed more than 50% after chip prices stabilised and sales of smartphones surged, reinforcing hopes the memory industry will emerge from its downturn this year. South Korea’s biggest company posted operating income of $11.5 billion for the three months ended December, missing estimates after it distributed special bonuses to employees. But revenue jumped ...

Read More »
Send this to a friend