February, 2023

• 24 February

  Deutsche Bank studied Credit Suisse deals before overhaul

  

  Bloomberg Deutsche Bank AG looked at buying parts of Credit Suisse Group AG assets as recently as last fall after the Swiss firm became engulfed by a series of scandals and financial hits, according to people with knowledge of the matter. The German lender analysed individual businesses such as the Swiss firm’s asset management and wealth management units, people familiar ...

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• 24 February

  Goldman discloses probe into its credit-card unit

  

    Bloomberg Goldman Sachs Group Inc said that investigations and inquiries into its credit-card business has expanded beyond the Consumer Financial Protection Bureau (CFPB) to include other government agencies. The bank, which has card tie-ups with Apple Inc and General Motors Co, made the disclosure in a regulatory filing. It had said last year that the CFPB is looking into ...

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• 24 February

  Market signals point to rand’s revival after weeks of losses

  

    Bloomberg South Africa’s rand is on track for a sixth consecutive week of declines versus the dollar — but there are indications the selloff may be about to ease. One of this year’s worst emerging-market performers, the rand has carried a heavy risk premium amid concerns about the nation’s growth as state-owned power company Eskom Holdings SOC Ltd deploys ...

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• 24 February

  Fed may need to hike to 6.5% to cool prices, says new study

    Bloomberg Federal Reserve officials may need to raise interest rates as high as 6.5% to defeat inflation, according to new research that was sharply critical of the central bank’s initially slow response to rising prices. In a paper presented at a conference in New York, a quintet of Wall Street economists and academics argue that policymakers still have an ...

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• 24 February

  CIBC’s traders give results a boost on rates products

  

    Bloomberg Canadian Imperial Bank of Commerce’s (CIBC) traders gave the bank’s earnings a boost last quarter amid a strong stretch for interest-rate products. Revenue from the capital-markets division rose to C$1.48 billion ($1.09 billion) in the three months through January, up 14% from a year earlier, the Toronto-based bank said. Overall profit topped analysts’ estimates for the fiscal first ...

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• 24 February

  Investment firm founder charged with $2b fraud

    Bloomberg North Carolina investment firm founder Greg E Lindberg, who is awaiting retrial on charges he tried to a bribe state official, was indicted in a separate case alleging he orchestrated a $2 billion insurance fraud scheme. Lindberg, 53, and two others were indicted by a federal grand jury in Charlotte, court records show. They’re accused of improperly taking ...

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• 24 February

  Ueda warns against magic solutions, sticks to BOJ script

  

    Bloomberg Bank of Japan (BOJ) Governor nominee Kazuo Ueda warned against any magical solution to produce stable inflation and normalise policy as he largely stuck to the existing central bank script in the first parliamentary hearing to approve his appointment. During a session that lasted almost three hours, Ueda said the BOJ should continue with stimulus for now, while ...

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• 24 February

  European stocks advance, US futures down amid value hunt

  

    Bloomberg European stocks advance, while US index futures and Asian equities fell, as investors hunted for pockets of value amid hawkish central banks, disappointing earnings and further power consolidation in China. The dollar gained before data on the Federal Reserve’s preferred inflation measure. The Stoxx Europe 600 Index climbed for a second day. Contracts on the S&P 500 and ...

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• 24 February

  Adani group all set to hold Asia fixed-income roadshow next week

  

    Bloomberg The Adani group will hold a fixed-income investor roadshow in Asia next week as the embattled Indian conglomerate seeks to repair the damage caused by a shock short-seller report. The group will hold a roadshow in Singapore on February 27, and Hong Kong on February 28 and March 1, according to a person familiar with the matter. Among ...

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• 24 February

  Luxury living takes center stage at Tabani Real Estate and Arada’s grand event

  

    Dubai / Gulf Time Tabani Real Estate, a leading real estate company in Dubai, is proud to announce that it will be organising a grand real estate event in collaboration with Arada to launch the Jouri Hills Villas project in Dubai. The event is scheduled to take place on February 25, 2023, at the JGE Head Office in Arada ...

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