December, 2021

• 20 December

  Omicron fears ignite market selloff as traders clear books

  

    Bloomberg Monday’s Asia trading session took on a decisively risk-off tone: US stock index futures fell, Treasuries gained and risk-sensitive currencies slid as investors fretted over fresh lockdowns to slow the new variant. Senator Joe Manchin’s rejection of the US spending package at the heart of President Joe Biden’s economic agenda heaped fresh fuel to the fire with market …

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• 20 December

  Indian stocks head for correction as omicron variant drives Asia rout

  

    Bloomberg India’s benchmark index was poised to enter a correction as concerns about risks from the rapid spread of the omicron coronavirus variant prompted selling of equities ahead of year-end holidays. Reliance Industries Ltd. was the biggest drag on the S&P BSE Sensex, which retreated 2.8% to 55,423.99 as of 1:24 pm in Mumbai, headed for its biggest two-day …

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• 19 December

  Fossil fuels to drive record Australian resources revenue

  

    Bloomberg Australia has revised up its forecast for resources and energy export revenue on the back of strong coal and liquefied natural gas prices, even as the world tries to wean itself off heavy-polluting fossil fuels. Exports are expected to hit a record A$379 billion ($271 billion) in the year to June 30, 2022, revised up by 9% from …

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• 19 December

  Goldman Sachs says it plans to reduce financed emissions

  

    Bloomberg Goldman Sachs Group Inc. plans to reduce the carbon footprint of its fossil-fuel clients by a fifth, and slash emissions in other key customer groups as it acts on a pledge to make its business climate neutral by mid-century. By 2030, the Wall Street firm intends to have lowered the financed emissions of oil and gas companies by …

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• 19 December

  India’s central bank told board it wants blanket crypto ban

  

    Bloomberg The Reserve Bank of India (RBI) said it favors a complete ban on cryptocurrencies at a meeting of its central board, the Economic Times reported, citing unnamed people familiar with the deliberations. India’s central bank made a detailed presentation to its board highlighting “serious concerns” around the impact of cryptocurrencies on macroeconomic and financial stability, as well as …

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• 19 December

  Monte Paschi plans to raise $2.8bn to meet capital needs

  

    Bloomberg Banca Monte dei Paschi di Siena SpA plans to raise 2.5 billion euros ($2.8 billion) to cover capital needs after the Italian government’s efforts to sell the lender to UniCredit SpA failed. The capital increase is part of a five-year business plan that will be submitted to European authorities for approval, it said in a statement. The fresh …

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• 19 December

  Scotiabank hits pause on return-to-office plan

  

    Bloomberg Bank of Nova Scotia is delaying plans to bring more employees back to its headquarters in January as Covid-19 cases rise rapidly in the province of Ontario. Canada’s third-largest bank had planned to start a phased return-to-office plan for head-office employees who are still working remotely on January 17, but that’s now on hold, spokesperson Clancy Zeifman said …

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• 19 December

  Colombia lifts key interest rate to 3%

    Bloomberg Colombia’s central bank raised borrowing costs for the third straight meeting as inflation accelerates amid forecasts for the biggest economic expansion in at least a century. The bank lifted its benchmark interest rate by half a percentage point to 3% in a split decision, Governor Leonardo Villar told reporters, adding that three of the seven board members voted …

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• 19 December

  Bank of Japan takes slow lane on paring Covid-19 aid

  

    Bloomberg The Bank of Japan (BOJ) ended the second year of the pandemic in a very different place to other major central banks. While the Federal Reserve and the Bank of England this week took aggressive steps to pull back from crisis aid, Governor Haruhiko Kuroda and his board slow walked it, extending assistance to struggling smaller businesses for …

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• 19 December

  China’s love for new mutual funds cools after tough year

  

    Bloomberg A tumultuous year for Chinese markets looks to be finally weighing on demand for new stock funds. While equity funds have raised 2 trillion yuan ($314 billion) this year — matching 2020’s record — fundraising this quarter is poised to be the slowest in two years, according to data from consultancy Z-Ben Advisors Ltd. Launches have slowed through …

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