July, 2021

• 28 July

  Credit Suisse ‘inquiry’ rips scrutiny

  

  Bloomberg Credit Suisse Group AG failed to properly monitor tens of billions of dollars of exposure that piled up while handling trades for Archegos Capital Management that generated relatively little revenue, according to people briefed on the findings of the bank’s internal inquiry. The report into how the bank lost about $5.5 billion tied to the collapse of Bill Hwang’s …

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• 28 July

  Santander Brasil’s CEO Rial to step down from role

  

  Bloomberg Santander Brasil Chief Executive Officer Sergio Rial will step down from the role after almost six years at the helm of the bank. The change, announced in a filing, will happen at the end of the year. Rial, who’ll become chairman and will remain a member of the bank’s board in Spain, will be replaced by Mario Roberto Opice …

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• 28 July

  Barclays gets boost from dealmaking in second quarter

  

  Bloomberg Barclays Plc’s investment bankers brought in a record haul as the booming deals market extended through the second quarter, offsetting more muted results in trading and helping the group to deliver improved profit and fresh shareholder payouts. Income from capital markets and merger advisory at the London-based lender rose by almost a fifth to 873 million pounds ($1.2 billion), …

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• 28 July

  US futures, European stocks rise amid positive earnings

  

  Bloomberg US futures rose with European stocks as positive earnings boosted sentiment, while Asian equities were weaker amid Chinese market turbulence. Treasuries fell ahead of the Federal Reserve’s rate decision. Contracts on the Nasdaq 100 Index and the S&P 500 rose, with Alphabet Inc and Microsoft Corp gaining in premarket after their sales topped estimates. Apple Inc dropped 0.9% on …

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• 28 July

  Bitcoin eyes longest winning streak in 2021

  

  Bloomberg A continuing recovery in Bitcoin has put the largest cryptocurrency on course for its longest winning streak this year. The virtual coin rose as much as 6.1% to top $40,000 and was trading at about $39,700 as of 8:15 am in London on Wednesday. It’s advanced for eight straight days. Other coins including second-ranked Ether climbed, boosting the Bloomberg …

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• 28 July

  China bond bulls unfazed amid growing crackdowns

  Bloomberg While Chinese markets might look bleak at the moment, the biggest government bond selloff of 2021 has some investors salivating at a buying opportunity. Risk aversion swept the country and spread globally this week after China cracked down on private-education firms. Although reassurance from state media on Wednesday helped stem a selloff in stocks, sentiment remains fragile. The same …

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• 28 July

  Oil steadies as resurgent virus casts shadow over demand

  

  Bloomberg Oil steadied as the resurgent pandemic posed a fresh threat to fuel demand even as global crude markets continued to tighten. Futures fluctuated near $72 a barrel in New York. The rebound in key energy consumers such as the US and China has helped to underpin increasing fuel consumption and drained bloated stockpiles built up during the pandemic. The …

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• 28 July

  Pakistan, Saudi agree to strengthen bilateral ties

  

  ISLAMABAD / WAM Pakistan and Saudi Arabia on Tuesday agreed to strengthen their relationship particularly in the economic domain including cooperation in trade, investment and technology. Foreign Minister Shah Mahmood Qureshi and his Saudi counterpart Prince Faisal bin Farhan bin Abdullah in a joint presser held at the Ministry of Foreign Affairs, vowed to continue extending support to each other …

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• 28 July

  Ryanair flexes muscles to build post-pandemic lead over rivals

  

  Bloomberg Ryanair Holdings Plc intends to pump more capacity into European markets in the coming months, keeping ticket prices low so it can overpower weaker rivals as travel rebounds in Europe. The region’s biggest low-cost carrier said that it expects to post a profit this quarter, even as it prioritises filling planes until demand fully rebounds. The summer high season …

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• 27 July

  Mango Airlines to seek bankruptcy protection

  

  Bloomberg South Africa’s Mango Airlines will enter a local form of bankruptcy protection, according to the head of its parent, South African Airways (SAA). There’s agreement between shareholders and the board on the matter, and Mango is consulting with labour groups, SAA interim Chief Executive Officer Thomas Kgokolo told eNCA television. Mango employees were seeking to force the low-cost carrier …

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