December, 2022

• 23 December

  China’s Xi tells Lee Hong Kong on ‘right track’

  

    Bloomberg Chinese President Xi Jinping has praised Hong Kong’s leader John Lee for reviving the local economy and safeguarding national security, while Premier Li Keqiang called for better coordination over the reopening of the city’s border with the mainland. Xi told Lee the city is on the “right track” as the two met in Beijing, according to the South ...

  Read More »
• 23 December

  Nurses to strike again in Britain next month

  

  Bloomberg Nurses will strike again in England next month as unions and the government refuse to back down in a row over pay. The move threatens a chaotic start to the year for Britain’s National Health Service after ambulance workers called off a strike planned for next week but announced further walkouts for early next year. The Royal College of ...

  Read More »
• 23 December

  Thai PM switching parties in bid to keep job after next vote

  

    Bloomberg Thai Prime Minister Prayuth Chan-Ocha, a general who first came to power in 2014, announced that he will seek to retain his position with the help of a new party in a vote expected in the first half of 2023. Prayuth, 68, will be a prime minister candidate of the Ruamthai Sarngchart party set up last year, he ...

  Read More »
• 23 December

  JPMorgan-backed digital bank to double loans to midsize firms

  

    Bloomberg C6 Bank, the Brazilian digital lender backed by JPMorgan Chase & Co, is planning to double its loan portfolio to midsize firms as it diversifies beyond retail clients. By the end of next year, C6 hopes to increase its loan book to such companies to more than 3.5 billion reais ($675 million) from about 1.8 billion reais now, ...

  Read More »
• 23 December

  Brazil gets crypto-trading ground rules as law signed

  

  Bloomberg Brazilian President Jair Bolsonaro signed into law the country’s first framework for cryptocurrency, with ground rules for brokerages that offer crypto as well as the assets’ day-to-day use. Though a formal designation is needed, the central bank is likely to be responsible for regulating and overseeing the new structure, according to the bill’s rapporteurs — the lawmakers who make ...

  Read More »
• 23 December

  MUFG weighs share buybacks to boost returns as cash grows

  

    Bloomberg Japan’s biggest bank sees value in further share buybacks as its $7.5 billion deal to sell a US regional lender adds to a growing cash pile. “We are always looking for growth investment opportunities,” Hironori Kamezawa, chief executive officer of Mitsubishi UFJ Financial Group Inc, said in an interview, adding that the lender will consider acquisitions in Asia ...

  Read More »
• 23 December

  Credit Suisse files complaint against Zurich financial blog

  

    Bloomberg Credit Suisse Group AG has filed a criminal complaint against a Zurich financial blog, ratcheting up a legal attack begun over readers’ comments attached to a series of stories it ran about the Swiss bank earlier this year. The complaint, which the blog Inside Paradeplatz confirmed, follows a 265-page civil lawsuit filed over comments that the bank said ...

  Read More »
• 23 December

  Naira heads for its worst losing streak in 2 years

    Bloomberg Nigeria’s currency is poised for its eighth straight day of losses and on track for its longest losing streak since 2020, less than two months before a presidential election. The naira traded at 453.16 to the dollar in the spot market. The currency has dropped 6.3% this year in the official market, where the rate is tightly controlled ...

  Read More »
• 23 December

  UBS, Deutsche Bank target India rich as China’s appeal cools

  

    Bloomberg Global private banks are rushing to hire advisers for India’s rich, as China’s slowdown and a gloomier global outlook turn the nation into a bright spot for wealth management. UBS Group AG, Deutsche Bank AG, and Julius Baer Group Ltd are among firms hiring private bankers to serve clients from the world’s fifth-biggest economy, which has an estimated ...

  Read More »
• 23 December

  China tech stocks are winning back investors after awful year

  

  Bloomberg After a rout that rivalled the burst of the US dot-com bubble, things are looking better for Chinese tech stocks in 2023 as regulatory headwinds ease and earnings prospects improve. The sector, once dubbed “uninvestable”, has regained favour among Wall Street analysts and investors as China’s reopening spurs hopes for an economic recovery and a long-standing auditing spat with ...

  Read More »