November, 2022

• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 18 November

  China, South Korea stocks set to outperform in 2023: Goldman

  

  Bloomberg Goldman Sachs Group Inc.’s analysts turned bullish on the equity markets of China and South Korea, predicting they will outperform in 2023 as Beijing relaxes its Covid-Zero policy and the global backdrop improves. Both the MSCI China benchmark and the country’s CSI 300 Index will rise by 16% in the next 12 months, the most in the region, strategists …

  Read More »
• 18 November

  Stocks rise with yields as Fed messages digested

  

    Bloomberg European stocks rise and US index futures pointed to a stronger open on Wall Street after two days of losses triggered by Federal Reserve signals that interest rates would continue to rise for a while yet. Europe’s Stoxx index rises 0.8%, led by energy, banking and utilities, though shares stayed on track to snap a four-week rising streak. …

  Read More »
• 18 November

  Walmart rises most since 2020 on forecast, wealthy shoppers

  

    Bloomberg Walmart Inc stock soared the most in two years as US shoppers flocked to its stores to find discounts amid surging inflation, spurring surprisingly robust third-quarter results and an improved annual profit outlook. The world’s largest retailer also reported progress in reining in bloated inventories and unveiled a new $20 billion program to buy back its stock. On …

  Read More »