Bloomberg Hungarian PM Viktor Orban announced sweeping measures to stem the spread of the coronavirus, in a policy reversal triggered by new cases threatening to overwhelm hospitals. The government will ban public gatherings, expand a curfew to between 8 pm and 5 am, shut restaurants except for take-away and switch secondary schools and universities to distance learning, Orban said on ...

Bloomberg New Zealand central bank (RBNZ) governor Adrian Orr is set to unveil a new monetary stimulus tool aimed at driving borrowing costs to fresh historic lows to spur economic growth. Orr is expected to lay out plans on November 11 to provide cheap loans to banks, giving them scope to further reduce lending rates. The Funding for Lending Program, ...

Bloomberg Bank of England (BOE) Deputy Governor Jon Cunliffe said there is no clarity yet on allowing banks to pay dividends as there may “still be a case” for restrictions until their robustness is assessed, according to The Sunday Times. Policy makers need to study the economic outlook, bank capital and the impact of profitability and losses on the lenders ...

Bloomberg Goldman Sachs Group Inc. cut its year-end Treasury yield forecast as the prospect of a divided Congress under a Democratic president makes another big fiscal stimulus package unlikely. The 10-year yield should fall to around 0.75% by the end of 2020, according to strategists including Praveen Korapaty. That’s well below the 1.05% target that the team had anticipated before ...

Bloomberg Deutsche Bank AG didn’t heed a recommendation from the European Central Bank (ECB) to suspend parts of its leveraged finance operations after the regulator identified shortcomings in how it manages risk in that business, a person familiar with the matter said. Deutsche Bank took remedial action within the given time frame but didn’t follow the ECB’s request to halt ...

Bloomberg HSBC Holdings Plc’s unit in Canada is considering its first euro-denominated covered bond as it expands a market pioneered in the 18th century that 300 years later has the distinction of surviving an economic meltdown relatively unscathed. The lender is weighing up Europe, the largest market for covered bonds, for a deal as soon as next year, according to ...

Bloomberg Societe Generale SA (SocGen) plans to cut 640 jobs in France, mainly at its investment-banking operations, as part of a broader cost savings plan. Part of the reduction relates to SocGen’s decision to stop trading in some of its risker structured products, the bank said in a statement on Monday. The securities business as well as compliance and risk ...

Bloomberg Global equities rallied to a record high amid optimism about the outlook under a Joe Biden presidency. The dollar extended declines. Last week’s embrace of risk continued on Monday after Biden was declared the winner of the US election over the weekend. S&P 500 futures rise about 1.5%, building on the strongest week since April for the benchmark, as ...

Bloomberg India’s benchmark equity index is on course for a record close after Democrat Joe Biden was declared the winner in the US election, ending uncertainty of a prolonged process in deciding a victor. The benchmark S&P BSE Sensex index climbed 1.5% to 42,512.19 as of 10:12 am in Mumbai, set to finish higher than the previous record in January. ...

Abu Dhabi / WAM The Emirates Mars Mission (EMM), the first interplanetary mission undertaken by an Arab nation, on Sunday announced the successful completion of TCM3 – its third and last major trajectory correction maneuver. Mars Hope’s arrival and Mars Orbit Insertion (MOI) will mean the United Arab Emirates will become the fifth nation to reach the Red planet. With ...