September, 2022

• 10 September

  North Korea allows ‘automatic’ nuclear strikes

  

  Bloomberg Kim Jong Un expanded the circumstances under which North Korea would launch a nuclear strike — including attacking automatically if his leadership is threatened — further raising the stakes for any military confrontation with the US and its allies. North Korea laid out its new nuclear doctrine in a law approved by the Supreme People’s Congress in Pyongyang, according ...

  Read More »
• 10 September

  Trump’s lawsuit against Hillary Clinton dismissed

    Bloomberg A federal judge in Florida dismissed a lawsuit filed by former president Donald Trump that blamed Hillary Clinton and others for conspiring to malign his character. Trump’s suit accused more than two dozen defendants of orchestrating “a malicious conspiracy to disseminate patently false and injurious information about Donald J. Trump and his campaign, all in the hopes of ...

  Read More »
• 10 September

  Ukraine army’s breakthrough in north threatens Russian grip

  

  Bloomberg A Ukrainian counteroffensive appears to be progressing in the north, but less so in the southern Kherson region that has attracted greater attention and Russian reinforcements. Ukrainian officials and Russian military bloggers alike on Thursday described a counteroffensive in the north that has surprised in its speed, the first time since the war began that Ukrainian forces have been ...

  Read More »
• 10 September

  BOJ bolsters bond buying as yields advance to policy limit

  

    Bloomberg The Bank of Japan (BOJ) said it would boost scheduled bond purchases as the intensifying Treasuries selloff puts upward pressure on global yields and weakens the yen. The BOJ said it would buy 550 billion yen ($3.8 billion) of five-10 year bonds at its regular operations, up from 500 billion yen scheduled. The move comes as Japan’s benchmark ...

  Read More »
• 10 September

  UK banks may write off $47bn in loans due to recession

  

    Bloomberg Britain’s lenders will have to write off £31 billion to £41 billion ($35.6 billion to $47.1 billion) of loans over the next three years as the country is hit by a recession, analysts at Credit Suisse Group AG predicted. The estimates are based on an economic contraction of between 1.5% and 4%, Omar Keenan and Alexander Demetriou said ...

  Read More »
• 10 September

  Bank of Canada puts down goal posts for future path of rates

  

    Bloomberg The Bank of Canada laid out key markers it will be watching as it considers how high borrowing costs will need to rise, flagging inflation expectations and underlying momentum of price pressures. In a speech in Calgary, Senior Deputy Governor Carolyn Rogers said policy makers will be closely monitoring how consumption, global supply disruptions and inflation measures evolve ...

  Read More »
• 10 September

  Serbia surprises with bigger rate increases

  

    Bloomberg Serbia lifted its benchmark interest rate more than expected to the highest level since early 2018 as the Balkan nation steps up efforts to tame accelerating inflation. The central bank raised its one-week repurchase rate by half a percentage point to 3.5%. Most analysts expected a hike of 25 basis points, with five of 17 correctly predicting the ...

  Read More »
• 10 September

  Bank of England delays its next interest rate decision

    Bloomberg The Bank of England delayed its next interest-rate decision a week to September 22 to allow a period of mourning after the death of Queen Elizabeth II. The move gives the Monetary Policy Committee more time to consider key inflation and jobs data due to be published next week. It also brings the rate decision closer to the ...

  Read More »
• 10 September

  Vietnam sets dong fixing at record low

    Bloomberg Vietnam set its reference rate for the dong at a record low, setting the stage for more weakness in the country’s currency The State Bank of Vietnam set the currency fixing at 23,281 dong per dollar, the weakest since at least 2005, according to data compiled by Bloomberg. That’s after the dong fell to the lowest in more ...

  Read More »
• 10 September

  UBS abandons $1.4bn deal for robo-adviser Wealthfront

  

  Bloomberg UBS Group AG has abandoned its plan to acquire US robo-adviser Wealthfront, unwinding what would have been the Swiss bank’s first major acquisition under Chief Executive Officer Ralph Hamers. The companies together decided to terminate their January merger agreement, valued at $1.4 billion, according to statements from both of them that didn’t specify a reason. UBS will purchase a ...

  Read More »