November, 2022

• 18 November

  Zelenskiy says no peace until Kyiv gets Crimea, Donbas back

  

  Bloomberg Ukrainian President Volodymyr Zelenskiy said taking back Crimea, which was annexed by Russia in 2014, as well as the country’s long-occupied eastern Donbas region are conditions for bringing the nine-month war to an end. “A simple ceasefire won’t do the trick,” Zelenskiy said in a video interview at the Bloomberg New Economy Forum in Singapore. “Unless we liberate our ...

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• 18 November

  China’s Xi confronts Trudeau over media leaks in heated exchange caught on Camera

  

  Bloomberg Chinese President Xi Jinping confronted Canadian Prime Minister Justin Trudeau at the Group of 20 summit, accusing him of leaking details of a private meeting — an unusually candid glimpse of Xi’s interactions with other world leaders. “Everything we discussed was leaked to the newspapers. That’s not appropriate, and that’s not the way our conversation was conducted, right?” Xi ...

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• 18 November

  Singapore’s Wong says Xi-Biden meet start of a long journey

  

  Bloomberg Singapore’s prime minister-in-waiting said the meeting between US President Joe Biden and Chinese counterpart Xi Jinping was “a good start” as Asian leaders greet diplomatic efforts between the top two economies with guarded optimism. Deputy Prime Minister Lawrence Wong, 49, said in an interview with Bloomberg News Editor-in-Chief John Micklethwait that the meeting between the two leaders was “important ...

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• 18 November

  Netherlands, South Korea to boost chip ties

    Bloomberg South Korean President Yoon Suk Yeol and Dutch Prime Minister Mark Rutte discussed ways to enhance economic security ties, seeking cooperation in the chip industry after US export curbs to China rattled the global semiconductor market. The two “underscored the significance of further strengthening existing collaboration between the two countries’ semiconductor industries and expressed their intention to support ...

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• 18 November

  China banks face $200bn in losses from property: UBS

  

  Bloomberg China’s property slump is estimated to cost the nation’s banking system as much as 1.5 trillion yuan ($212 billion) in losses on loans, bonds and other assets, according to UBS Group AG. Such a loss will be “digestible by the banking system as the banks have strong earnings power and high” reserves against non-performing assets, May Yan, the bank’s ...

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• 18 November

  JPMorgan set to grow in buyout financing after rivals lost billions

  

    Bloomberg JPMorgan Chase & Co is on the hunt for buyouts to lend to and is hoping to gain market share in leveraged financing after avoiding the dozens of clunkers that have cost competitors billions of dollars. Executives across JPMorgan made a decision last year to cut back on risk in leveraged finance, a choice that surprised customers and ...

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• 18 November

  Credit Suisse cuts senior bank jobs in Asia

  

    Bloomberg Credit Suisse Group AG has started cutting senior bank jobs in Asia including three managing directors across investment banking and financing as the Swiss giant carries out its plan to reduce global headcount by 9,000, people familiar with the matter said. Among the bankers let go were Johnson Chui, Asia-Pacific head of equity capital markets, Karen Yap from ...

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• 18 November

  Euro has scope to top $1.10 by end next year

  

    Bloomberg The euro has scope to bounce back above $1.10 by the end of next year, taking it to levels last seen in the early months of the Russia-Ukraine war, before energy and economic concerns helped drag the common currency below parity with the greenback for the first time in decades. Deutsche Bank AG’s Alan Ruskin and George Saravelos ...

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• 18 November

  Nigeria expected to devalue its currency

    Bloomberg Africa’s largest economy is expected to devalue its currency after elections in February by the steepest margin in six years to align it with market perceptions, according to a survey of investors and analysts. Nigeria operates a multiple exchange regime dominated by a tightly controlled official rate, cutting off access to many businesses and individuals, which in turn ...

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• 18 November

  Fund titans buying Chinese stocks on bets worst is over

  

    Bloomberg Franklin Templeton Investments and Eastspring Investments are joining a growing list of money managers snapping up Chinese stocks on bets that Beijing’s pivot away from Covid Zero will bring significant gains. China’s world-beating rally this month has solidified convictions that recent losses are a thing of the past as a property rescue plan and easing on virus controls ...

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