September, 2022

• 21 September

  Serbia won’t let Kosovo join UN despite strong Western pressure

  

  Bloomberg There is no chance that Serbia will let Kosovo join the United Nations despite intense pressure from the US and European nations, Serbian President Aleksandar Vucic said. Serbia still regards its former province, which declared independence in 2008 almost a decade after the two sides fought a war on mostly ethnic lines, as its territory. Belgrade relies on veto-wielding ...

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• 21 September

  World’s youngest leader electrifies UN assembly

    Bloomberg The world’s youngest leader, Chile’s President Gabriel Boric, sounded the alarm on the risk of social unrest, reminding his more experienced colleagues gathered at the United Nations that discontent that exploded locally can be repeated around the world. Boric said at the UN General Assembly that outrage over inequality and poor basic services can lead to uprisings in ...

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• 21 September

  Japan, South Korea seek resolution on wartime labor

    Bloomberg Top diplomats from Japan and South Korea agreed in New York to continue to seek a resolution on the issue of Korean labor conscripted to work in Japanese factories and mines during World War II. Japanese Foreign Minister Yoshimasa Hayashi and South Korean counterpart Park Jin also agreed to cooperate on the security threat posed by North Korea ...

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• 21 September

  China banks keep lending rates unchanged after PBOC pauses

  

  Bloomberg Chinese banks kept their main lending rates unchanged after the central bank paused its monetary easing and defended a weakening yuan, though a cut is still expected by economists in the coming months to counter headwinds to growth. The one-year loan prime rate (LPR) was left at 3.65%, according to a statement by the People’s Bank of China (PBOC). ...

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• 21 September

  British pound, euro are in a ‘doom loop’: TD experts

  

  Bloomberg The Bank of England (BOE) has limited power to stop the downward spiral in the UK pound, said strategists at TD Securities, who are predicting more losses in the coming months. The pound and euro are trapped in a “doom loop” caused by soaring energy prices that feed into weaker economic growth and lower currency values, wrote strategists including ...

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• 21 September

  Goldman cuts 25 Asia bankers over China deals

  

  Bloomberg Goldman Sachs Group Inc has started axing at least 25 investment bankers in Asia as a drought in dealmaking prompts cuts across sectors, people familiar with the matter said. The cuts span its equity capital markets, healthcare and telecommunication, media and technology teams in Asia, the people said, asking not to be identified because the matter is confidential. The ...

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• 21 September

  Bitcoin drops to 3-month low

    Bloomberg A slide in cryptocurrencies sent Bitcoin to a three-month low as sentiment took a knock from a wave of monetary tightening that’s set to stretch from Europe to the US this week. The largest digital token sank as much as 7.4% and was trading at $18,644 in New York. That’s the lowest since digital-asset prices tumbled after the ...

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• 21 September

  Gold struggles as Fed fears swirl before rate decision

    Bloomberg Gold kicked off a pivotal week seeing fresh declines as the dollar strengthened, with investors bracing for a Federal Reserve rates decision that risks putting more pressure on the precious metal. The metal slid as much as 0.9%, extending a slump over the past month in the face of the dollar’s relentless gains.

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• 21 September

  Stocks decline as traders eye supersized Fed hike

  

  Bloomberg Stocks fell with US equity futures, giving up early gains, as traders braced for another supersized US rate hike amid rising anxiety the Federal Reserve could overtighten and raise the odds of a hard landing. The Stoxx 600 Index dropped 0.8%, paced by losses on real estate and miners. US equity futures also declined after briefly trading higher, with ...

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• 21 September

  Nasdaq makes first big crypto push to lure institutional clients

  

    Bloomberg Nasdaq Inc is making its first major push into crypto, as the second-largest stock exchange prepares to capitalise on increasing appetite for digital currencies among big-money investors. A new group dedicated to digital assets will initially offer custody services for Bitcoin and Ether to institutional investors, according to Tal Cohen, the company’s executive vice president and head of ...

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