November, 2022

• 19 November

  North Korea fires suspected ICBM after warning US on exercises

  

  Bloomberg North Korea test-fired a suspected intercontinental ballistic missile with an estimated range long enough to carry a warhead to the American mainland, prompting the US to condemn what it said was an unlawful action. The North Korean missile was launched Friday, a day after Pyongyang warned the US to halt allied military drills in the region or face retribution. ...

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• 19 November

  Kamala Harris seeks to coax Asia towards US as China gains

  

  Bloomberg Vice President Kamala Harris tried to persuade Asian nations that the US is their most valuable economic partner in a speech in Bangkok on Friday, with the Biden administration wary of China’s inroads in the region. Harris sought to allay doubts about the US commitment to the region among its leaders, after a turbulent period that saw former President ...

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• 19 November

  China, Japan leaders open door to mend ties in first meeting

  

  Bloomberg Chinese President Xi Jinping and Japanese Prime Minister Fumio Kishida asserted their desire to improve relations and agreed to reopen lines of communication in the first meeting of the leaders of Asia’s two largest economies in three years. Xi expressed a willingness to work with Japan to maintain a stable relationship at their summit Thursday on the sidelines of ...

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• 19 November

  Ukrainian blackouts grow dire after Russian blitz

  

    Bloomberg Ukraine is approaching the winter months with blackouts spreading across the country, as Russia’s missile campaign pummels power stations, grid networks and other civilian facilities. More than 10 million Ukrainians —about a quarter of the pre-war population — are without electricity, President Volodymyr Zelenskiy said in his overnight address Thursday, as the first snow fell in the capital ...

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• 19 November

  House Republicans plan to ax Democrats’ climate crisis committee

    Bloomberg Republicans plan to kill a special committee focused on climate change when they take control of the House next year, the top GOP member of the panel said. “The climate crisis committee will not exist,” Louisiana Representative Garret Graves, the top GOP member of the House Select Committee on the Climate Crisis, said in an interview. “I don’t ...

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• 19 November

  Euro-zone banks to return $308b in cheap loans to ECB

  

    Bloomberg Banks will return €296.3 billion ($308 billion) of cheap loans to the European Central Bank after their terms were toughened to help the battle against record inflation. The repayment represents just under 15% of the total outstanding amount of so-called TLTRO loans, which were used during the pandemic to keep credit flowing to households and businesses. The median ...

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• 18 November

  China asks banks to report on liquidity

  

    Bloomberg Chinese regulators asked banks to report on their ability to meet short-term obligations after a rapid selloff in bonds triggered a flood of investor withdrawals from fixed-income products. The unscheduled regulatory queries coincided with the biggest decline in China’s short-term government bonds since mid-2020. The slump — spurred by a shift towards riskier assets including stocks — prompted ...

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• 18 November

  Banks need flexibility to draw female talent in post-Covid era

  

  Bloomberg Flexibility is vital to attract talented female employees as many have altered their lifestyles and requirements following the Covid-19 pandemic, according to executives in the financial services industry. Kobkarn Wattanavrangkul, chairperson at Kasikornbank Pcl, said employers must pay more attention the new needs and adapt quickly to recruit well and sustain growth. Meanwhile Narisa Chauvidul-Aw, chief executive officer and ...

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• 18 November

  Citigroup, Barclays cut investment-banking jobs

  

    Bloomberg Citigroup Inc. and Barclays Plc started eliminating jobs in their investment-banking operations, joining other major banks in responding to plunging revenue from the business. Dozens of positions at New York-based Citigroup were cut this week, while reductions expected to eventually total about 200 have begun at London-based Barclays. US banks have been hurt by the dramatic slowdown in ...

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• 18 November

  Philippines sticks with bold rate hike

    Bloomberg The Philippine central bank delivered its second 75 basis-point interest-rate increase of this year, as it sought to support the peso and cool inflation by matching the pace of hikes by the Federal Reserve. Bangko Sentral ng Pilipinas raised the overnight reverse repurchase rate to 5%, as predicted by all but one in a Bloomberg survey of 24 ...

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