April, 2022

• 29 April

  China faces bleak holidays over ‘Covid zero’

    Bloomberg Chinese holidaymakers face another holiday season ruined by virus outbreaks and controls, with the government’s stringent Covid Zero restrictions and fears of infection expected to keep many people at home during the upcoming Labor Day break. Travel was already down in March, when the biggest Covid-19 outbreak in two years prompted officials to lock down major cities like …

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• 29 April

  UBS becomes third global bank to lose China boss this month

  

    Bloomberg UBS Group AG’s David Chin is stepping down as China country head, the third senior executive at a global lender in the nation to exit this month as bankers are hobbled by a strict Covid Zero strategy and a crackdown on private enterprise. After two years in the role, Chin will be succeeded by Eugene Qian, chairman of …

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• 29 April

  HSBC warns of China headwinds, more real estate loan losses

  

    Bloomberg HSBC Holdings Plc, the largest foreign bank in China, warned of further potential hits from the nation’s battered real estate market as defaults continue to climb amid a worsening Covid-19 outbreak. “It’s a big call to say that we’ve seen the worst,” Ewen Stevenson, HSBC’s chief financial officer, said in an interview with Bloomberg News. “Do I think …

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• 29 April

  Santander delivers earnings beat fired by rates, currencies

  

    Bloomberg Banco Santander SA’s earnings beat estimates, with the retail banking giant’s geographical reach providing a buffer against growing economic risks in Europe from the war in Ukraine. Spain’s biggest lender posted net income of 2.54 billion euros ($2.72 billion) in the first quarter, exceeding the analyst consensus of 2.26 billion euros, as rising lending revenue offset increased costs …

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• 29 April

  Nomura posts $242m net profit in Q1 2022

  

    Bloomberg Nomura Holdings Inc posted a fourth straight quarter of profit as Japan’s largest brokerage booked gains from a stake sale in one of its affiliated companies, offsetting further provisions for a legal case in the US. Net income totalled 31 billion yen ($242 million) in the three months ended March 31, the firm said in a statement. Nomura …

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• 29 April

  JPMorgan’s Southeast Asia ECM head quits

    Bloomberg Novan Amirudin, head of Southeast Asia equity capital markets at JPMorgan Chase & Co., is leaving after serving more than 15 years at the US bank, according to people familiar with the matter. Novan, who is also head of Malaysia investment banking at JPMorgan, tendered his resignation this week, said the people. He has started his gardening leave, …

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• 29 April

  Bets of easing crackdown spur rise in China technology stocks

  

  Bloomberg Technology stocks led a broad rally in Chinese equities on Friday as the nation’s top leaders vowed to boost economic stimulus and as speculation grew about a possible easing of the continued crackdown on internet firms. The Hang Seng Tech Index jumped 10% in Hong Kong, the most since March 16, led by names like Alibaba Group Holding Ltd. …

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• 29 April

  Yen’s historic decline signals rewrite of global currency playbook

  

  Bloomberg The yen’s plunge to a 20-year low threatens to leave it significantly weaker for years to come, shaking up global money flows and undermining Japan’s efforts to get its fragile economy back on track. The speed of the decline — it’s slumped 11% against the dollar in seven weeks — has caught policy makers off guard and exposed divisions …

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• 28 April

  KKR nearing deal for French solar, biomass power producer

  

    Bloomberg KKR & Co agreed to acquire French solar and biomass power producer Albioma SA in a deal valued at about 1.6 billion euros ($1.7 billion), in the latest sign of investor demand for renewable energy assets. The buyout firm offered 50 euros per Albioma share, plus a cash dividend of 84 cents, according to a statement, confirming an …

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• 28 April

  Russia to cut gas to Poland, Bulgaria until demands met

  

  Bloomberg Russia halted gas flows to Poland and Bulgaria in a major escalation, and said it will keep supplies switched off until the two countries agree to Moscow’s demands to pay for the fuel in rubles. European gas prices surged 20% on Russia’s sudden move to turn its vast energy resources into a weapon against Ukraine’s allies. But prices later …

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