Bloomberg Commerzbank AG is poised to appoint Thomas Schaufler as its new retail head and Joerg Oliveri del Castillo-Schulz operating chief, filling two key roles as the lender seeks to put an end over a long period of management turnover. Oliveri del Castillo-Schulz would replace Joerg Hessenmueller, who is expected to vacate his post after facing criticism in recent months …
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September, 2021
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16 September
Goldman Sachs CFO Scherr exits
Bloomberg Goldman Sachs Group Inc Chief Financial Officer (CFO) Stephen Scherr will depart the bank and end nearly three decades at the firm, paving the way for the latest round of executive reshuffling in the Wall Street giant’s highest rungs. Scherr, 57, who rose to CFO with the leadership change that brought in David Solomon as head of the firm, …
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16 September
RBA’s Lowe pushes back against bets on early rate rises
Bloomberg Australia central bank chief Philip Lowe pushed back against investor bets on early interest-rate increases, arguing it will take time to drive faster wages growth and reiterating he doesn’t expect liftoff before 2024. “I find it difficult to understand why rate rises are being priced in next year or early 2023,†Lowe said in a speech to the Anika …
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16 September
European stocks struggle as China data flag growth risk
Bloomberg Stocks in Europe struggled for traction as weak economic data from China fueled concerns about a slower global recovery from the pandemic. Travel and retail stocks led declines in the Stoxx Europe 600 Index, with H&M falling the most since July after missing sales estimates, while energy shares gained as oil extended an advance. Contracts on the S&P 500 …
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16 September
Chip supplier’s winning streak shows foreigners are returning to Japan
Bloomberg The nonstop surge in global demand for electronics products combined with the recent flood of foreign funds into Japanese stocks has driven a record win streak in one of the world’s largest suppliers of chipmaking equipment. Shares of Tokyo Electron Ltd gained 1.6% to a fresh all-time high on Wednesday, notching a 15th straight daily advance, its longest-ever win …
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15 September
Philippines sells $866m of maiden retail dollar bonds
Bloomberg The Philippines raised $866 million from its debut sale of dollar bonds targeted at individuals as it seeks to expand funding from that lucrative investor pool. In a two-part offering, 10-year retail notes were priced at 2.25% and five-year bonds at 1.375%, according to the Bureau of the Treasury. While the debt sale is small compared with the $3 …
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15 September
Aldar-ADQ consortium offers to buy 90% stake in Egypt’s Sodic
ABU DHABI / WAM A consortium comprising Aldar Properties (Aldar) and ADQ has submitted for approval by the Egyptian Financial Regulatory Authority (the FRA) an all-cash mandatory tender offer (MTO) for up to 90 percent and a minimum of 51 percent of the outstanding share capital of The Sixth of October for Development and Investment SAE (SODIC or the Company) …
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15 September
Stocks fluctuate before US CPI as crude oil advances
Bloomberg Stocks and US futures fluctuated ahead of inflation data that could influence expectations about the Federal Reserve’s likely timing for paring stimulus. Treasury yields and the dollar were steady. Basic-resources shares declined in Europe as iron ore dropped for a fifth day, with production curbs in China weighing on demand and investors awaiting industrial and economic data due this …
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14 September
Chinese EV maker once worth more than Ford wipes out $80bn
Bloomberg Evergrande New Energy Vehicle Group Ltd shares plunged anew on Tuesday, extending a decline that has wiped out more than $80 billion in market value from the would-be electric-car maker this year. The Hong Kong-listed company — which at its peak in April was worth more than Ford Motor Co despite not yet having a car on the market …
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14 September
Singapore plans local stocks boost with Temasek fund
Bloomberg Singapore is planning new measures to boost its domestic stock market, according to people with knowledge of matter. State investment giant Temasek Holdings Pte.’s 65 Equity Partners Holdings Pte, with a fund size of at least $745 million, will invest in Singapore and regional mid-cap firms, including initial public offerings, the people said. Temasek and sovereign wealth fund GIC …
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