November, 2022

• 12 November

  Skymark Airlines to buy Boeing Max jets

    Bloomberg Skymark Airlines Inc plans to modernise its fleet by adding as many as 12 Boeing Co. 737 Max jets, while the once-bankrupt discount carrier will also list on the Tokyo Stock Exchange next month. The airline intends to order four Max aircraft and lease six more, it said in a joint statement with Boeing. It will also have …

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• 11 November

  Stocks in India climb to record on robust earnings, global rally

  

  Bloomberg Indian stocks jumped to an all-time high as strong corporate earnings and a return of foreign investors bolsters one of the world’s top-performing major markets of the year. Joining a global rally sparked by a softer-than-expected US inflation reading, the S&P BSE Sensex Index jumped 2% to close at 61,795.04 on Friday, eclipsing a previous record reached on October …

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• 11 November

  Chinese stocks in US rise on watershed moment for Covid Zero policy

  

  Bloomberg Chinese stocks listed in the US soared after Beijing made significant changes to the stringent Covid Zero policy that has bogged down the economy and dented appetite for the country’s equities. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, jumped 5.1% in premarket trading. Stocks that are most sensitive to an economic …

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• 11 November

  Serbia to hike interest rate despite slowdown

  

  Serbia will probably hike borrowing costs as the fastest inflation in more than a decade overshadows the risks of a sharp downturn in economic growth. The National Bank of Serbia will lift its benchmark interest rate by 50 basis points to 4.5%, according to nine of 16 economists in a Bloomberg survey. Five expect a quarter-point increase and two see …

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• 11 November

  Credit Agricole regional owners to increase stake to $1 billion 

  

  Credit Agricole SA said its regional-bank shareholders would buy up to €1 billion ($1 billion) of the lender’s shares by the first half next year, in a move that takes advantage of depressed prices amid worries over the economic outlook. The Paris-based bank said the regional lenders, through the holding entity SAS Rue La Boetie, would increase their stake to …

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• 11 November

  Credit Suisse revamps Asia-Pacific wealth team

  

  Credit Suisse Group AG promoted executives in its Asia-Pacific wealth management unit and removed a layer of hierarchy in a revamp after recent senior departures in the group. “We have flattened the organisational structure,” Benjamin Cavalli, the bank’s regional wealth head, said in a memo, while elevating market group heads who will report to him. Cavalli said he made the …

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• 10 November

  US futures rise as CPI bets keep bonds on the edge

  

  US stock-index futures rise, while Treasuries slipped, as investors remained on the edge before a report projected to show inflation in the world’s largest economy moderated for a fourth successive month. December contracts on the S&P 500 and Nasdaq 100 added at least 0.3% each, a day after the underlying indexes tumbled to one-week lows amid a blurry midterms verdict …

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• 10 November

  Sebi panel tells Indian exchanges to bolster oversight, compliance

  

  A panel set up by India’s capital market regulator wants exchanges, clearing houses and depositories to revamp their compliance and risk management structures to minimise governance lapses. A committee headed by G. Mahalingam, a former central banker and a ex- whole time member at the Securities and Exchange Board of India (Sebi), recommended market infrastructure institutions (MII) should separate functions …

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• 10 November

  Wells Fargo faces US demand for record fine exceeding $1bn

  

  Wells Fargo & Co. is under pressure from the Consumer Financial Protection Bureau to pay more than $1 billion to settle a series of investigations into mistreatment of customers, a deal that would shatter the agency’s previous record — also with Wells Fargo. The regulator’s demand in confidential talks, described by people with direct knowledge of the matter, reflects its …

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• 10 November

  Barclays to refund 1,000 customers for PPI breach

  

  Barclays Plc will refund more than a 1,000 customers an average of £750 ($858) after it failed to send them reminder of its payment protection insurance (PPI) policies. The total payout of up to £1 million is made up of refunds and goodwill payments, according to a Competition & Markets Authority (CMA) statement on Wednesday. The CMA requires providers to …

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