August, 2022

• 19 August

  Russia seen using Ukraine nuclear plant as shield for troops

  

    Bloomberg Russia is likely using the Zaporizhzhia nuclear power plant in southern Ukraine to shield its troops and equipment, undermining the safety of the plant’s operations, according to European intelligence officials. There appears to be a deliberate effort by Russia to use the plant’s protected status as a nuclear site to provide cover to its forces, and prevent them ...

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• 19 August

  Xi and Putin to attend G-20 summit in Indonesia, Jokowi says

  

    Bloomberg Chinese President Xi Jinping and Russian leader Vladimir Putin are both planning to attend a Group of 20 summit in the resort island of Bali later this year, Indonesian President Joko Widodo said. “Xi Jinping will come. President Putin has also told me he will come,” Jokowi, as the president is known, said in an interview with Bloomberg ...

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• 19 August

  Kim’s powerful sister slams South Korea’s ‘stupid’ disarmament-for-aid deal offer

  

  Bloomberg The influential sister of North Korean leader Kim Jong Un rejected a disarmament-for-aid deal offered by South Korea’s president, calling it a “stupid” plan and dismissing the idea of engaging with Seoul. Kim Yo Jong told South Korean President Yoon Suk Yeol to “stop dreaming in vain,” the state’s official Korean Central News Agency reported Friday. The comments added ...

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• 19 August

  Myanmar military junta announces cabinet rejig with slight changes

    Bloomberg Myanmar’s military government announced on Friday a cabinet reshuffle with slight changes to ministerial roles, maintaining generals and close allies of military chief Min Aung Hlaing in top positions. Min Aung Hlaing’s premiership and deputy military chief Soe Win’s role as deputy prime minister remained the same, according to an order by the ruling State Administration Council, which ...

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• 19 August

  Bank of America’s overdraft fees slump 90% after charges eased

  

    Bloomberg Bank of America Corp (BofA) said overdraft-service fees plummeted 90% after it took steps to ease off on the charges, which have been under fire from lawmakers. The decline from a year earlier came in June and July, the first two months after the second-largest US bank implemented sweeping changes related to overdraft services for its more than ...

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• 19 August

  Banks offer to facilitate Russian bond trades

  

    Bloomberg Major Wall Street banks including JPMorgan Chase & Co, Barclays Plc and Citigroup Inc. are offering to facilitate trades in Russian corporate debt and government bonds, according to Reuters. The move took place in recent days after guidelines from the US Treasury that allowed US holders to wind down their positions, the news agency said, citing client notes, ...

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• 19 August

  Norway to raise rates to highest in a decade

  

    Bloomberg Norway is poised to raise borrowing costs to the most in over a decade as unexpectedly rapid inflation challenges earlier plans for more gradual increases. The central bank will lift its key policy rate by a half-point to 1.75%, according to most economists surveyed by Bloomberg. That would be the highest since March 2012, with investors watching for ...

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• 19 August

  Barclays warns of credit pain in return to 1970s inflation regime

  

    Bloomberg Rising prices amid a US economic slowdown will menace embattled credit markets, if history repeats. The current inflation and growth environment is most akin to the 1973 to 1975 and 1978 to 1980 time periods, when credit markets did badly, according to Barclays Plc. strategists led by Dominique Toublan. “Credit performance was poor then, and we do not ...

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• 19 August

  Hang Seng Bank explores insurance deal

    Bloomberg Hang Seng Bank Ltd, a Hong Kong-based lender majority owned by HSBC Holdings Plc, is seeking an insurance partner after its existing agreement with Australia’s QBE Insurance group Ltd. expired. Hang Seng Bank is working with a financial adviser as it explores a so-called bancassurance partnership, which could be valued at more than $100 million, the people said, ...

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• 19 August

  Nomura mulls hedges to curb American Century losses

  

  Bloomberg Nomura Holdings Inc may use hedges to limit further hits from its ownership of a stake in a US mutual fund manager after booking losses on the investment for two straight quarters. Japan’s largest brokerage will “consider mitigating measures, including hedges” to reduce the earnings impact of its holding in American Century Investments (ACI), spokesman Yoshitaka Otsu said, declining ...

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