February, 2022

• 3 February

  Deutsche Bank sees deeper selloff in US stocks, boosts China call

  

    Bloomberg Deutsche Bank AG is betting the diverging policy paths between the Federal Reserve and the People’s Bank of China will result in US equities correcting further and China’s getting a boost, joining several other Wall Street banks in making the call. The German lender’s international private banking unit downgraded US equities to neutral from overweight last week, scrapping …

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• 3 February

  Polish central bank to welcome stronger zloty

  

    Bloomberg A stronger zloty would amplify the impact of Polish interest-rate increases, central bank Governor Adam Glapinski said, pledging to do whatever it takes to drive down spiraling inflation. “Today, the appreciation of the exchange rate would support monetary tightening and would be consistent with the direction of the central bank’s actions,” he said in response to questions from …

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• 3 February

  RBA chief Lowe flags rate rise possibility this year

    Bloomberg Australia’s central bank chief Philip Lowe signalled for the first time that interest rates could rise this year if faster wages growth returns inflation sustainably to the 2-3% target. That is “a plausible scenario” depending on how events unfold, but there are plenty of other scenarios as well, Lowe said in comments that increased his room for maneuver …

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• 3 February

  UBS says $1.2 billion charges best estimate of French tax fine

  

    Bloomberg UBS Group AG Chief Financial Officer Kirt Gardner said the 1.1 billion euros ($1.24 billion) set aside to cover the cost of a French tax-evasion case are the bank’s “best estimate” of the final cost. The Swiss lender is counting on a further reduction of the French penalties after they were cut in December to 1.8 billion euros …

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• 3 February

  TD Bank to eliminate its overdraft fees

    Bloomberg Toronto-Dominion Bank’s US retail-banking unit is eliminating charges for overdrafts of $50 or less, joining a parade of lenders revamping their fees amid criticism from politicians, regulators and consumer advocates. TD Bank also is giving customers who overdraw their accounts by more than that amount 24 hours to fix the issue before incurring a fee, the unit of …

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• 3 February

  Santander pledges profitability growth after earnings beat

  

    Bloomberg Banco Santander SA pledged to increase profitability and shareholder payouts as rising interest rates in key markets from the Americas to Europe are set to boost income from lending at the Spanish retail banking behemoth. The bank also signalled it has done strengthening capital buffers after rebounding from steep losses two years ago at the onset of the …

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• 3 February

  Global stocks extend biggest gains since 2020 on earnings

  

    Bloomberg Global stocks headed for the biggest four-day rally since November 2020 as companies from the US to Europe reported better-than-forecast earnings and dip-buying returned to technology shares. Futures on the Nasdaq 100 Index jumped 1.1%, while those on the S&P 500 added 0.4%. Europe’s Stoxx 600 Index traded above its 50-day moving average for the first time since …

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• 3 February

  Bitcoin’s decline from 2-week peak highlights key technical hurdle

  

    Bloomberg Bitcoin slipped back on Wednesday after touching a near two-week high, spotlighting the token’s struggle to vault a key technical hurdle and reclaim the $40,000 level. The world’s largest cryptocurrency retreated about 1.3% to $38,300 as of 3:40 pm in Singapore, after touching $39,267 a day earlier. Ether, the second-largest coin, falls some 1.5%. A Bitcoin price trendline …

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• 2 February

  EU countries make last-ditch bid to stop green label for gas

  

    Bloomberg Four countries asked the European Union to reverse a plan to make some natural gas projects eligible for its coveted green label in a last-minute plea, highlighting divisions about how to manage the energy transition. In a letter sent to the European Commission, the Netherlands, Austria, Sweden and Denmark argued there’s a lack of scientific evidence to include …

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• 2 February

  Indonesia lifts ban on its coal exports

  

    Bloomberg The Indonesian government has lifted a ban on coal exports, ending uncertainty that sent the price of the fuel to this year’s highest level. The ban was lifted on improving supply for local power plants, according to a statement published by Energy and Mineral Resources Ministry on its website on Tuesday. Coal exporters that have met the domestic …

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