Bloomberg It took unprecedented stimulus and a rally that’s pushed equities near record highs, but fund managers overseeing $489 billion finally believe that this stock market recovery has legs. Among investors surveyed by Bank of America Corp. (BofA) in the week through August 13, 46% described equities as being in a bull market, up from 40% in July. The share ...

Bloomberg Singapore’s financial regulator will step up efforts to urge banks to hire more citizens and develop a strong local leadership pipeline, according to its chief. “Protecting and growing Singaporean jobs, especially in current economic conditions, is a top priority,” the Monetary Authority of Singapore’s (MAS) Managing Director Ravi Menon wrote in a letter in the Straits Times. The MAS ...

Bloomberg One of the world’s biggest banks has staged a mass return to the office in a country where the number of Covid-19 infections surged by 1 million just in the past month. About 60% of administrative staff at Banco Santander SA’s Brazilian unit — including some investment bankers and those in asset management — are now back at their ...

Bloomberg The pile of the murkiest trades at global banks, long the bane of regulators, got much bigger during Covid-19. Lenders including Barclays Plc, Citigroup Inc., BNP Paribas SA and Societe Generale SA reported a surge of more than 20% in their most opaque assets during the chaotic first half of 2020, Bloomberg calculations show. The banks are now sitting ...

Bloomberg Citigroup Inc. scored a temporary court order freezing $175 million that Brigade Capital Management LP declined to return after the bank accidentally transferred more than $900 million to Revlon Inc. lenders. The order followed a hearing in which the bank and the hedge fund faced off over Citigroup’s expensive blunder. The two will be back in court as the ...

Bloomberg European stocks turned higher with US futures as investors signalled continued optimism in the post-pandemic rally after shares hit all-time highs on Wall Street. Gold slipped back below $2,000 an ounce. Gains in food shares including Nestle SA countered declines in insurers on the Stoxx Europe 600 Index. Contracts on both the S&P 500 and Nasdaq 100 swings to ...

Bloomberg The dollar sinks to its lowest level since May 2018 on concern that the world’s biggest economy will struggle to regain momentum amid a standoff over further virus relief and as infections continue to mount. The greenback has now erased most of the gains it built on the back of US-China trade tensions that started heating up around two ...

Bloomberg Oil jumped to a five-month high alongside a surge in US equities as optimism that an economic recovery may be on the horizon lifted hopes for improving fuel demand to follow. Equities in the US, Europe and Asia strengthened, with the S&P 500 Index approaching the highest in months, bolstered by fresh stimulus out of China’s central bank. A ...

Dubai / WAM Dubai International Financial Centre (DIFC) announced the launch of a new license for startups, entrepreneurs and technology firms. The new “Innovation License” will attract new types of businesses to the centre and is a key initiative for the Dubai Future District, which was announced in January, said a DIFC press release. The new license will support innovation, ...

Abu Dhabi / WAM The Integrated Transport Centre (ITC) of the Department of Municipalities and Transport announced that 140 new public buses will be operated in the emirate of Abu Dhabi aimed at improving the quality of services offered to the public transport sector users. In Abu Dhabi City, 112 buses will be operated and 28 buses will be operated ...