October, 2022

• 22 October

  Indonesia’s central bank wants to ‘control’ rupiah in tougher stance

  

    Bloomberg Indonesia’s central bank hardened its wording around its currency interventions, saying it would look to “control” the rupiah with the dollar expected to stay strong in the coming months. “What we will continue to do is to control the exchange rate,” Bank Indonesia Governor Perry Warjiyo said after the policy rate decision. “We don’t want the strengthening dollar ...

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• 22 October

  US banks’ credit-card businesses are enjoying Goldilocks moment

    Bloomberg US banks seem to be having a Goldilocks moment with their credit card portfolios. Spending is up — partly due to inflation and partly due to the fact consumers are embracing travel and dining out as the pandemic recedes — and that means fees they collect from merchants each time a customer swipes their cards are also up. ...

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• 22 October

  ING’s unit probed over money laundering case

  

  Bloomberg ING Bank NV subsidiary Payvision is under investigation for violating anti-money laundering regulations. The probe is related to actions dating from the period before ING bought Payvision, the bank said in a statement in response to a report by Dutch newspaper Financieele Dagblad. ING said it is aware of the Payvision probe but is not itself a subject of ...

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• 22 October

  PBOC names new deputy governor

  Bloomberg The People’s Bank of China (PBOC) appointed a new deputy governor, ahead of a possible reshuffle of economic leadership during the Communist Party’s twice-a-decade congress. Xuan Changneng, 55, whose most recent role was deputy head of the State Administration of Foreign Exchange, was appointed as the PBOC’s sixth deputy governor, according to a statement on the central bank’s website. ...

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• 22 October

  French judges tell BNP Paribas to fix women’s unequal pay

  

    Bloomberg BNP Paribas SA was told by French judges it shouldn’t have excluded bonuses from its calculations to close the gender pay gap, in a ruling that’s likely to have ramifications for the local banking industry. A Paris court criticised BNP for only using women’s base salary as a comparison with the median for men in the same jobs, ...

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• 22 October

  Bad news roils social media stocks as $47bn evaporates

  

    Bloomberg First came Snap Inc.’s disappointing results. Then news that US officials were discussing whether they should subject some of Elon Musk’s ventures to national security reviews, including the deal for Twitter Inc. Anxious investors are selling out of social media stocks, putting them on track to lose more than $47 billion in market value as they tumble in ...

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• 22 October

  M&A prospects in UK  jump as stocks look cheap after pound falls

  

    Bloomberg A flurry of mergers and acquisitions in UK companies may be near as a plunge in the pound has made them more attractive to foreign buyers, according to investors participating in different spheres of the market. Private equity giant Blackstone Inc, $5 billion hedge fund Toscafund Asset Management LLP and strategists at Jefferies are united in calling a ...

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• 20 October

  Spirit Airlines shareholders approve $3.8b sale to JetBlue

  

    Bloomberg Spirit Airlines Inc shareholders approved the carrier’s $3.8 billion cash sale to JetBlue Airways Corp, a milestone for a deal that’s poised to eliminate the largest US carrier offering deeply discounted fares. More than half of outstanding shares were voted in favour of the combination, according to preliminary results disclosed by the companies. JetBlue and Spirit still expect ...

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• 20 October

  Walmart enlists social media influencers to help sell everything

  

  Bloomberg Walmart Inc is starting a platform for social media influencers — a bid to get help from online content creators to sell everything from food to apparel. The program, called Walmart Creator and accessible via an internet browser, is designed to make it easier for influencers to recommend company products, the retailer announced in a statement. Influencers will have ...

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• 20 October

  Boeing delays threaten plan to grow in slowdown, says Ryanair

  

    Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said the discount carrier’s ability to gain market share from rivals in a looming economic slowdown is at risk from delays to Boeing Co. jetliner deliveries. O’Leary said he’s concerned the US planemaker may ship only 12 or 13 of the 21 Max aircraft that Ryanair is due to get ...

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