December, 2022

• 11 December

  Goldman, JPMorgan to win big from British finance reforms

  

    Bloomberg Goldman Sachs Group Inc and JPMorgan Chase & Co are likely to be among the beneficiaries of the government’s financial services reforms through a proposed relaxation of ring-fencing capital rules that will boost their UK savings arms. The government said it intends to consult next year on the possibility of increasing the threshold above which lenders must ring-fence ...

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• 11 December

  London’s XTX Markets plans crypto expansion

  

    Bloomberg XTX Markets has become the last major global market maker to take the plunge into crypto despite its founder’s dislike for the digital asset space. Chief Executive Officer Alex Gerko tweeted that the company has filled one of the four crypto positions advertised in October. The roles are on the operations team and trading desk, and based in ...

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• 11 December

  Ghana’s cedi sees biggest gain against US dollar

  

    Bloomberg Ghana’s currency took the title of the world’s best performer against the dollar this week amid optimism the debt-distressed country is moving closer to unlocking an International Monetary Fund bailout. The cedi has rallied 10% in the past five days, the biggest advance among about 150 currencies tracked by Bloomberg. That’s a turnaround for an exchange rate that ...

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• 11 December

  Former central bank economist named Peru’s new finance chief

    Bloomberg Peru’s new President Dina Boluarte named a US-educated economist who has spent most of his career at the central bank as economy minister, potentially soothing investor nerves after last week’s political chaos. The new finance chief, Alex Contreras, served as deputy economy minister under former President Pedro Castillo. Contreras worked at the central bank between 2007 and 2019, ...

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• 11 December

  China central bank official calls for orderly carbon reduction

  

    Bloomberg China should pursue any transition to green economic activity in an orderly manner and avoid any “campaign-style” carbon reductions at its financial institutions, a deputy central bank governor said. Financial institutions must resist exit from high-carbon assets by enhancing their ability to identify green and low-carbon economic activities and coping with financial risks linked to climate change, the ...

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• 11 December

  Venezuela’s Maduro orders team to defend sliding bolivar

    Bloomberg Venezuela President Nicolas Maduro ordered his economic team to take measures to defend the bolivar following a sharp fall against the dollar this month. In a tweet, Maduro said that facing an attack from the “criminal dollar,” his government would move to protect the official exchange rate ahead of the holidays. He blamed criminal groups in Miami for ...

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• 11 December

  Bankman-Fried to testify at US hearing on FTX fallout

  

  Bloomberg The House Financial Services Committee confirmed that former FTX Chief Executive Officer Sam Bankman-Fried will testify at a hearing next week on the disintegration of his crypto empire. He is now listed as a witness alongside current FTX CEO John J Ray III, according to a media advisory the committee. The hearing will be split into two parts, each ...

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• 11 December

  Microsoft, Salesforce to track emissions

  

    Bloomberg A rush of regulation and investor pressure is forcing companies to do a better job of tallying up the environmental impact of their operations and the products they sell. That’s stirring demand for software that helps businesses measure carbon emissions. Salesforce Inc. and Microsoft Corp. have joined at least a dozen startups providing products to help companies calculate ...

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• 11 December

  Twitter relaunches Twitter Blue at higher price for Apple users

  

  Bloomberg Twitter will relaunch its Twitter Blue subscription service for $8 per month on the web, the company said. Users will also get access on iOS for $11 per month to subscriber-only features, including the blue checkmark, the company said in a series of tweets. The days of being constrained to just 280 characters in a tweet may soon be ...

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• 11 December

  Mercedes-Benz commits to make EVs in Thailand

  

    Bloomberg Mercedes-Benz Group AG has committed to manufacturing electric vehicles (EVs) in Thailand after signing an agreement to import its battery-powered cars — part of a government plan to bolster the Southeast Asian nation’s status as a clean automaking hub. The luxury carmaker will receive a slew of benefits including lower import duties and excise taxes for each fully electric ...

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