January, 2023

• 13 January

  Turkey summons Swedish envoy, warns over Nato bid

  

  Bloomberg Turkey summoned Sweden’s ambassador after supporters of the Kurdish militant group PKK and its affiliates hanged an effigy of Turkish President Recep Tayyip Erdogan during a protest in Stockholm. Sweden must crack down on terrorism if it wants to join Nato, Turkey said, after the puppet was hung by the feet outside the city hall in the Swedish capital ...

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• 13 January

  Imran Khan dissolving regional assemblies to push Pakistan polls

  

  Bloomberg Allies of Pakistan’s former premier Imran Khan are moving to dissolve two of the four provincial assemblies in a bid to force Prime Minister Shehbaz Sharif to call for national elections well before November. The assemblies of Punjab and Khyber Pakhtunkhwa provinces will be dissolved on Saturday to make way for local polls, said party officials from Khan’s Pakistan ...

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• 13 January

  Japan seeks Biden endorsement of security overhaul

  

  Bloomberg Japanese Prime Minister Fumio Kishida will seek public support for his robust new security strategy from US President Joe Biden at their upcoming summit, after criticism from China. Kishida arrived Thursday in Washington on the last leg of a whirlwind tour that has taken him to most of the Group of Seven countries before Japan hosts the body’s summit ...

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• 13 January

  Congress ramps up pressure to kick out Brazil’s Bolsonaro

    Bloomberg Congressional Democrats added to pressure on President Joe Biden to kick Jair Bolsonaro out of the country, even as US officials stick to a wait-and-see approach in hopes that the former Brazilian president will make good on a promise to return home on his own. In a letter dated Thursday, 46 congressional Democrats urged Biden to remove Bolsonaro ...

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• 13 January

  BofA reaps benefits of interest rate hikes, trading volatility

  

  Bloomberg Bank of America Corp (BofA) reported an increase in net interest income as the lender benefits from rate hikes, and its traders beat analysts’ estimates, reaping the benefits of dramatic market swings spurred by the higher rates, soaring inflation, recession fears and global political turmoil. Net interest income, the revenue collected from loan payments minus what depositors are paid, ...

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• 13 January

  Asia’s major banks see widening gap between ESG leaders, laggards

  

    Bloomberg Asia’s major banks are seeing a widening gap between ESG leaders and laggards, as regulators in the region ramp up scrutiny of sustainable finance, according to WWF-Singapore. While leading banks in Singapore and Malaysia made headway on implementing their environmental and social risk policies in 2022, over half of the 46 regional lenders surveyed made “little to no ...

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• 13 January

  JPMorgan accuses Morgan Stanley defector of poaching 32 customers

  

    Bloomberg JPMorgan Securities LLC asked a court to order one of its former employees to stop poaching its customers for his new employer, Morgan Stanley Smith Barney LLC. Joseph A Michael, who quit in December after more than 18 years at JPMorgan, has already persuaded about 32 JPMorgan households, with assets totalling about $28 million, to start transferring their ...

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• 13 January

  Peru extends its biggest-ever phase of monetary tightening

    Bloomberg Peru extended its biggest-ever phase of monetary tightening in a bid to curb a spike in inflation that is now being aggravated by anti-government protests and road blockades. The central bank raised its benchmark rate by 0.25 percentage points to 7.75%, the highest level in more than two decades. The decision was in line with expectations, and was ...

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• 13 January

  Wells Fargo dials back mortgages, servicing

  

    Bloomberg Wells Fargo & Co., announcing a “new strategic direction” for a mortgage empire that was once the largest in US banking, said it will stop funding home loans arranged by outsiders and shrink the portfolio of debts that it services. The retreat from so-called correspondent lending and reduction in servicing caps years of efforts to clean up a ...

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• 13 January

  US mortgage rates decline to 6.42%

    Bloomberg US mortgage rates retreated for the first time in three weeks, helping provide a modest lift to refinancing activity. The contract rate on a 30-year fixed mortgage decreased 16 basis points to 6.42% in the week ended January 6, according to Mortgage Bankers Association (MBA) data. That helped boost applications for refinancing, which rose 5.1% in the week. ...

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