September, 2021

• 7 September

  SoftBank surges 10% after stock swap deal with Deutsche Telekom

  

  Bloomberg SoftBank Group Corp surged the most in nine months after unveiling a deal to acquire 4.5% of Deutsche Telekom AG and sell part of its stake in T-Mobile US Inc to the German telecommunications carrier. The Japanese investment giant announced a complicated deal under which it will swap T-Mobile shares for an initial 225 million shares of Deutsche Telekom. ...

  Read More »
• 6 September

  Shanghai halts key approval on route to offshore listings

  

  Bloomberg Officials in China’s financial capital of Shanghai are closing a route used for decades by companies operating in the technology sector to draw foreign investment. Startups that have recently applied to Shanghai’s National Development and Reform Commission for permission to inject money into affiliated entities incorporated in places like the Cayman Islands are being turned away, according to people ...

  Read More »
• 6 September

  Europe stocks rise as traders weigh Fed taper outlook

  

  Bloomberg European stocks rise with US equity-index futures as investors bet slower hiring in the world’s largest economy may delay a tapering of Federal Reserve stimulus. Aluminum hit a decade high amid political unrest in Guinea. The Stoxx Europe 600 Index inched closer to its record high, led by technology shares. Contracts on the S&P 500 Index rises 0.2% even ...

  Read More »
• 6 September

  Saudi Arabia cuts oil prices to Asia as Opec+ boosts supply

  

  Bloomberg Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount. State producer Saudi Aramco is rolling back pricing on all of its grades to its biggest market in Asia. Three successive months of increases in the company’s official selling prices had left refiners smarting as the coronavirus pandemic plays havoc with ...

  Read More »
• 5 September

  HSBC plans for permanent hybrid work, less jet-setting

  

  Bloomberg HSBC Holdings Plc isn’t about to throw away its pandemic-era ways of working. The bank, which is in the midst of a historic pivot and cost cutting program, predicts it will be operating in a profoundly different way after the virus outbreak ebbs, with as many as 70% of its staff backing a hybrid working model and with its ...

  Read More »
• 5 September

  Goldman hires Citi, HSBC bankers amid deal surge in Mideast

  

  Bloomberg Goldman Sachs Group Inc is hiring bankers from rival firms Citigroup Inc and HSBC Holdings Plc as the US lender seeks to expand its business in the Middle East amid a surge in deals from the region. Jassim AlSane, a senior Citigroup banker, will join Goldman Sachs’ Dubai office in November as managing director and the co-head of investment ...

  Read More »
• 5 September

  Indonesia tells banks to disburse 30% of loans to small companies

  

  Bloomberg Indonesia’s central bank will require lenders to disburse at least 30% of their loans to small companies, part of a broader effort to revive slow credit growth that’s stalled the economic recovery. Banks must allocate at least 20% of their total loans to micro, small and medium enterprises next year, with the proportion gradually increasing to 25% in 2023 ...

  Read More »
• 5 September

  Germany’s savings banks mull sale of Berlin Hyp

  

  Bloomberg Germany’s public-sector savings banks have initiated the sale of their commercial real estate lender Berlin Hyp AG in what would be the biggest banking deal in Europe’s biggest economy this year. The savings banks association DSGV has mandated Pricewaterhouse Coopers to collect bids which may be valued at least $590 million. Binding offers are due in October. Landesbanks including ...

  Read More »
• 5 September

  CIBC to take over Capital One’s Canada card business

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) is taking over Capital One Financial Corp’s Costco Wholesale Corp credit card business in Canada, helping diversify its portfolio away from travel rewards. CIBC will buy Capital One’s existing portfolio of Costco-branded Mastercards, which has more than $2.4 billion in outstanding balances, and become the exclusive issuer. The change is expected to begin ...

  Read More »
• 5 September

  Singapore’s OCBC mounts China hiring spree

  Bloomberg Oversea-Chinese Banking Corp (OCBC) is boosting its wealth management and corporate banking staff for Greater China to capture regional business flow from the world’s second-largest economy. The lender plans to double the number of relationship managers for wealthy Chinese clients to 500 by 2023, Chief Executive Officer Helen Wong said in her first in-person interview. The planned hires will be ...

  Read More »