November, 2022

• 14 November

  ECB seen getting $909.5 billon cheap-loan repayments in ’22

  

  Bloomberg The European Central Bank (ECB) will probably receive several hundreds of billions of euros in early repayments of long-term loans this year after officials toughened the terms of the program to aid their fight against inflation. Estimates vary widely on how much of the €2.1 trillion ($2.2 trillion) in outstanding cash will be returned this month, the first available ...

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• 14 November

  Japan’s megabanks plan $2.5 billion in buybacks

  

  Bloomberg Japan’s biggest banks announced plans to boost shareholder returns, including buybacks of as much as $2.5 billion as global rates hikes spurred an increase in income from loans that helped earnings beat analyst estimates. Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. both said they will buy back shares while Mizuho Financial Group Inc. upped a ...

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• 14 November

  HSBC opens new Singapore office

  

  Bloomberg HSBC Holdings Plc has big plans to ramp up in Singapore to build up international corporate and wealth banking as it expands its Asia footprint outside its regional hub in Hong Kong. As he opened a new Singapore headquarters on the top floors of 50-story Marina Bay Financial Centre Tower 2, Chief Executive Officer Noel Quinn said the city ...

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• 14 November

  ‘Credit Suisse won’t be profitable before 2025’

  

    Bloomberg Credit Suisse Group AG investors should brace for billions of dollars in losses before the troubled Swiss lender’s sweeping restructuring plan eventually leads to modest profitability in 2025 — and that’s only if it can overcome steep risks, according to Moody’s Corp. The ratings agency said that the Swiss bank’s plan entails elevated restructuring and remediation costs, as ...

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• 14 November

  Deutsche Bank staff to get extra $1,500 for inflation

    Bloomberg Deutsche Bank AG agreed to pay employees in Germany an extra €1,500 ($1,500) this year to help them deal with the current high inflation. The payment will be made on top of December wages and apply to staff covered by collective wage agreements in the country, according to a memo seen by Bloomberg News and confirmed by spokesman. ...

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• 14 November

  NAB CEO sees ‘more pain’ for households

    Bloomberg One of Australia’s largest banks is expecting further interest rate increases next year as consumers face price rises on “everything they touch.” National Australia Bank (NAB) Chief Executive Officer Ross McEwan said while there’s currently no impact on loan arrears from surging inflation and higher borrowing costs in the country, 2023 will likely see that change. “There’s going ...

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• 14 November

  Commerzbank’s new targets disappoint investors

  

  Bloomberg Commerzbank AG’s decision to raise two financial targets fell flat with investors, after results in the third quarter were hit by charges at its Polish unit and the lender flagged cost headwinds. Revenue at the Frankfurt-based bank declined 5.9% in the three months through September, slightly worse than analysts had estimated, reflecting a hit of almost €750 million at ...

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• 14 November

  US futures wilt against Federal Reserve caution, rising yields

  

    Bloomberg US stock futures declined on Monday and Treasury yields rose as a cautious tone from a Fed speaker tempered some of the ebullience that inflation may have peaked. Contracts on the tech-heavy Nasdaq 100, typically more sensitive to interest rates, slipped 0.7% while those on the S&P 500 dropped 0.4%. Losses in New York premarket trading were concentrated ...

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• 14 November

  World-beating India stocks cement haven status with new record

  

  Bloomberg Having emerged as a safe haven amid this year’s global equity rout, Indian stocks look poised to extend their lead over world peers and finish 2022 on a high. A return of foreign investors is bolstering the market, where the benchmark S&P BSE Sensex Index rise to an all-time high as risk assets rejoiced over a softer US inflation ...

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• 14 November

  Food import costs globally to reach $2 trillion this year: FAO

  

  Rome / WAM Food import costs globally are projected to reach nearly $2 trillion this year, or higher than previously expected, the UN Food and Agriculture Organisation (FAO) said in a report. The new forecast of $1.94 trillion would represent an all-time high and a 10 percent increase over the record level of 2021. However, the pace of increase is ...

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