December, 2022

• 7 December

  Deutsche Bank hit with EU bond cartel complaint

    Bloomberg Deutsche Bank AG and Rabobank received formal complaints from the European Union’s antitrust watchdog for their alleged roles in a cartel for euro-denominated bonds, setting them up for potential fines from the regulator. The European Commission said it sent the banks a so-called statement of objections laying out concerns that the banks colluded “to distort competition” in trading ...

  Read More »
• 7 December

  JPMorgan reveals worst greenwash risk for firms

    Bloomberg Regulators look set to reserve their harshest interventions for firms caught making misleading statements about climate strategies, according to an assessment by JPMorgan Chase & Co analyst Jean-Xavier Hecker. “Climate change is likely to become the ESG theme where the crackdown on greenwashing will be the hardest, given that it represents a theme where scientific knowledge is widely ...

  Read More »
• 7 December

  China’s safest credit in worst selloff since 2017 on good news

  

  Bloomberg The mood for risk is seeping into every corner of Chinese markets, with policy moves to ease Covid-19 curbs and revitalise the economy fuelling the biggest selloff in years in high-grade local corporate debt. Yields on most AAA rated domestic corporate bonds jumped at least 10 basis points on Tuesday, according to traders. They hit a 13-month high of ...

  Read More »
• 7 December

  Gold falls with higher yields as traders eye Federal Reserve policy

  

    Bloomberg Gold falls the most since October as Treasury yields and the dollar rise, with traders assessing fresh US economic data for cues on the Federal Reserve’s rate policy along with China’s relaxation of its Covid-Zero policies. Stronger-than-expected US services data from November boosted chances that the Fed will keep interest rates higher for longer, which hurts bullion since ...

  Read More »
• 7 December

  The year’s big yen short set for a dramatic U-turn in 2023

    Bloomberg The world’s worst-performing major currency looks poised for an impressive turnaround in 2023 as its two key drivers — a hawkish Federal Reserve and a dovish Bank of Japan — swap places in the eyes of some investors. The yen — a favoured short against the dollar for a majority of this year — could rally more than ...

  Read More »
• 6 December

  Bahrain’s Investcorp to acquire US asset manager Marble Point

  

  Bahrain / Gulf Time Investcorp, a leading global alternative investment firm, on Monday announced it has agreed to acquire Marble Point Credit Management LLC (Marble Point), a leading US-based collateralised loan obligation (CLO) manager. “The proposed acquisition of Marble Point is a significant milestone in Investcorp’s 40-year journey of growth through diversification, geographic expansion and building scale. With $50 billion ...

  Read More »
• 6 December

  Latest cost-of-living squeeze tests Nestle’s vitamins push

  

  Bloomberg Packaged-goods giants like Nestle SA and Unilever Plc have poured billions into acquisitions of vitamin brands in recent years, seeking growth beyond traditional businesses like stock cubes, ice cream and soap. The bet appeared to pay off when Covid hit, turbocharging demand for supplements as worried consumers sought to boost their defenses against a new and mysterious virus. Over ...

  Read More »
• 6 December

  Most creditors approve Hong Kong Air’s $6.3bn debt restructuring plan

  

  Bloomberg Most creditors of Hong Kong Airlines Ltd voted to support the carrier’s proposed HK$49 billion ($6.3 billion) debt restructuring, a step to stave off insolvency after travel to and from the city dried up the past three years. Of those voting among three classes of creditors, holders of at least 80% of the debt in each class backed the ...

  Read More »
• 6 December

  Ryanair cautious on first-quarter demand after strong Christmas

  

  Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary struck a cautious note on bookings in the first quarter, when factors like inflation, economic contraction and higher energy prices may prompt travellers to curtail spending following strong Christmas demand. “We expect it to be a little bit softer in the first quarter of next year, but then we think next ...

  Read More »
• 5 December

  United nears deal for 100 Dreamliners as part of fleet overhaul

  

    Bloomberg United Airlines Holdings Inc is in late-stage talks with Boeing Co and Airbus SE as the carrier mulls narrow- and widebody models for potential blockbuster orders to bolster its fleet. The Chicago-based airline is looking at taking more than 100 Boeing 787 Dreamliners as part of a “triple-digit” twin-aisle order that CEO Scott Kirby has touted to pilots, ...

  Read More »