September, 2022

• 20 September

  China’s provinces suffer major fiscal hit from Covid zero

  

  Bloomberg China’s doubling down on its zero-tolerance stance towards Covid-19 is draining local-government coffers, posing a fresh threat to the economy and bond investors. Jilin province, in the northeast of the country, has warned of “increasingly outstanding conflicts” between spending and income. Finances at almost half of its 60 county and district level governments are so tight they are exposed ...

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• 20 September

  Royals, world leaders attend Queen’s funeral

  

  Bloomberg The evocative bugle call of the “Last Post” echoed around a hushed Westminster Abbey as Queen Elizabeth II’s state funeral drew to a close— a poignant mark of remembrance and gratitude for the UK’s longest-serving monarch. After four extraordinary days in which hundreds of thousands of people queued for miles to pay tribute to the Queen at her lying-in-state ...

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• 20 September

  US will defend Taiwan from ‘unprecedented attack’: Biden

  

  Bloomberg President Joe Biden said US military forces would defend Taiwan from “an unprecedented attack,” his latest pledge of support as his administration seeks to deter China from increasing military pressure on the democratically elected government in Taipei. Biden made the remark during an interview with “60 Minutes” that aired Sunday, while distancing himself from the question of whether Taiwan ...

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• 20 September

  Court drops terror case against Imran Khan

    Bloomberg A Pakistan court ordered police to drop investigations into a terrorism complaint against former leader Imran Khan for allegedly threatening a female judge and senior police officials during a public rally last month. A two-judge panel of the Islamabad High Court led by Chief Justice Athar Minallah handed down the order while accepting Khan’s appeal to withdraw the ...

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• 20 September

  ECB to avoid climate laggards’ longer debt in historic shift

  

  Bloomberg The European Central Bank (ECB) will limit purchases of longer-term debt issued by companies that rank poorly under a new scoring system created to screen out polluters and tackle climate change. The maturity limit will cut the “longer-term exposure of the Eurosystem to transition risks,” according to a statement. The ECB will also give “special treatment” to green bonds ...

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• 19 September

  FCA issues warning on crypto’s FTX to users

  

    Bloomberg The UK’s Financial Conduct Authority (FCA) published a warning to consumers about Sam Bankman-Fried’s crypto exchange FTX, saying it isn’t authorised by the regulator to offer financial services or products in the country. The regulator said on its website that Bahamas-based FTX “is targeting people in the UK,” adding that investors are “unlikely to get your money back ...

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• 19 September

  US lenders may face new rules for dealing with crises

    Bloomberg US banking regulators are considering asking large regional banks to add to financial cushions to make it easier to wind them down in a future crisis, Dow Jones reported citing people familiar with the matter. New rules under consideration include requirements for regional banks to raise long-term debt that can help absorb losses in case of insolvency, extending ...

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• 19 September

  Singapore dollar may become winner as MAS tightens

    Bloomberg Singapore’s dollar has established itself as Asia’s most resilient currency against the US dollar this year, and some strategists are betting on more strength if price pressures force the nation’s central bank to tighten its exchange-rate policy again next month. Goldman Sachs Group Inc, Citigroup Inc and MUFG Bank Ltd are among banks that are bullish on the ...

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• 19 September

  Stocks fall in cautious start to key Fed decisions week

  

    Bloomberg Stocks slid with US equity futures in a cautious start on Monday as investors await a slew of interest rate decisions in the days ahead and after global equities notched their worst week since hitting this year’s low in June. Futures on the S&P 500 index dropped 1% along with the Nasdaq 100, indicating extended declines for the ...

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• 19 September

  China struggles to stem yuan slide with fixing, warnings

  

    Bloomberg The yuan fell, an indication that China’s latest attempts to beef up the currency with a record pushback in the reference rate and verbal warnings is barely holding back a selling wave. The People’s Bank of China (PBOC) fixed the yuan at 6.9396 per dollar, 647 pips stronger than the average estimate in a Bloomberg survey of analysts ...

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