November, 2022

• 22 November

  Investigations into Binance.com ongoing, Singapore police say

    Bloomberg The Singapore police is investigating Binance.com over a possible breach of local payment services rules. “Police investigations are ongoing and we are unable to comment further,” according to a statement from the police in response to queries from Bloomberg News. The probe started when the nation’s financial regulator referred the case to the white-collar crime unit of the ...

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• 22 November

  Central banks must stick to hikes as economy slows: OECD

  

    Bloomberg The world’s central banks must keep raising interest rates to fight soaring and pervasive inflation, even as the global economy sinks into a significant slowdown, the Organisation for Economic Co-operation and Development (OECD) said on Tuesday. The unexpected surge in prices and its impact on real incomes is hurting people everywhere, creating problems that will only worsen if ...

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• 22 November

  ANZ Bank to withdraw from Myanmar over ‘operational complexity’

  

    Bloomberg Australia & New Zealand Banking Group Ltd (ANZ) plans to withdraw from Myanmar by next year citing increasing “operational complexity”, underscoring how global companies are turning cautious on the country after a 2021 military coup. The move to cease operations in Myanmar is subject to local regulatory approval and the lender has been “working with its Institutional customers ...

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• 22 November

  Big markdown coming in private assets, says BMO investment chief

  

  Bloomberg Private equity firms and pension funds will soon face a reckoning as they adjust their private holdings to reflect lower valuations, according to the chief investment officer of BMO Global Asset Management. There’s “going to be a big markdown,” Sadiq Adatia said in an interview. “That might be worse than getting that pain gradually over the year.” Stocks are ...

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• 22 November

  ECB will increase interest rates further: Holzmann

    Bloomberg The European Central Bank (ECB) will continue to increase borrowing costs, according to Governing Council member Robert Holzmann. “We’ve recently raised interest rates strongly,” he said in Vienna. “We will raise interest rates further.” Still, the Austrian central bank chief — among the ECB’s most hawkish officials — said the Governing Council must be mindful of too strong ...

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• 22 November

  Five-year UK mortgage rate declines below 6%

  

    Bloomberg The cost of a five-year fixed-rate mortgage has fallen below 6% for the first time in almost seven weeks, providing a glimmer of hope for Britons affected by the UK’s home loans crunch. The average five-year fixed-rate mortgage falls to 5.95% on Tuesday, according to Moneyfacts Group Plc. That’s the first time it has dropped below the threshold ...

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• 22 November

  HK dollar rises towards strong half of band

    Bloomberg The resurgent Hong Kong dollar has pushed closer to the strong half of its trading band, amid a spike in local funding costs that has upended crowded bets on shorting the currency. The Hong Kong dollar saw its biggest intraday rise in three years on Monday to as high as 7.8004 per dollar, bringing its gain for November ...

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• 22 November

  BNY Mellon’s Frankfurt offices raided

    Bloomberg Bank of New York Mellon’s Frankfurt offices are being raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street’s biggest banks. The raid began on Tuesday, people familiar with the process said. A spokesman for Cologne prosecutors said searches at two unidentified banks started and included the ...

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• 22 November

  World’s worst-performing stocks have Vietnam investors on edge

  

    Bloomberg The world’s biggest stock-market slump is testing the resolve of Vietnam’s investing masses. A government crackdown on real estate companies, corruption probes and tightening credit have pushed the benchmark VN Index down 36% this year in the world’s worst performance, led by banks and property firms. While some foreign investors see a buying opportunity, the crisis is punishing ...

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• 22 November

  Stocks gain as oil majors rally; Fedspeak in focus

  

  Bloomberg European shares advanced, boosted by oil majors as crude prices recovered. US futures gained as investors parsed comments from Federal Reserve officials to assess the potential for slower interest rate hikes. The Stoxx Europe 600 Index climbed 0.7%, with Shell Plc and BP Plc among the biggest drivers of the gains. Contracts on the S&P 500 and the Nasdaq ...

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