November, 2022

• 19 November

  SpaceX in funding talks that would value it at $150bn

  

    Bloomberg Elon Musk’s SpaceX is in talks to raise a funding round that values the rocket-launch and satellite company at more than $150 billion. The transaction being discussed represents a jump from the $125 billion valuation the company commanded earlier this year. Terms including the price haven’t been finalised and could still change. Shares are being discussed at roughly ...

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• 19 November

  Fairfax weighing Bangalore airport IPO at $3.7bn value

  

    Bloomberg Fairfax India Holdings Ltd. is considering an initial public offering for Bangalore International Airport Ltd. (Bial) that could value the asset at about 300 billion rupees ($3.7 billion), according to people familiar with the matter. The Indian arm of Canadian investment group Fairfax Financial Holdings Ltd. is working with an adviser on the potential listing that could take place ...

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• 19 November

  Amazon staff fear ‘no one is safe’ as layoffs roil the ranks

  

    Bloomberg “No one is safe.” So wrote an Amazon.com Inc. employee on an internal chat room as the company began the largest round of layoffs in its history. The mood, especially in the hard-hit devices team, reflected the shock and dismay of people more accustomed to growing budgets and moonshots than talk of recession and austerity. Devices chief Dave ...

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• 19 November

  Swiss watch exports growth slows

    Bloomberg Swiss watch exports grew at a slower pace in October as shipments to China declined, suggesting a slight moderation in demand for high-end timepieces. Shipments rise 6.7% to $2.4 billion last month, the Federation of the Swiss Watch Industry said. Exports are up 12% in the first ten months of the year, on track for a record. Demand ...

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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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• 18 November

  BOJ veterans tipped as best picks to replace Kuroda

  

  Bloomberg Two Bank of Japan (BOJ) veterans lead the field to replace Governor Haruhiko Kuroda next spring in a change of leadership at the central bank that risks upsetting global financial markets and spawning a renewed surge of speculation over possible policy change. Most BOJ watchers surveyed by Bloomberg see current Deputy Governor Masayoshi Amamiya or his predecessor Hiroshi Nakaso ...

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