May, 2021

• 19 May

  Tokyo stock exchange mulls longer trading hours, says Nikkei

  

  Bloomberg The Tokyo Stock Exchange is considering expanding trading hours for cash equities in a move designed to attract retail investors and foreign traders, the Nikkei newspaper reported, without citing anyone. The bourse, which ends trading at 3 pm Tokyo time, is considering expanding hours into the afternoon or evening in a change that could be in time for a …

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• 18 May

  Oil dips below $65 as investors assessing near-term demand

  

  Bloomberg Oil drifted lower as a demand recovery in key regions raised optimism about rising fuel consumption, despite a Covid-19 flare-up in parts of Asia. Futures in New York slipped near $65 a barrel while Brent fell towards $68 in London as the dollar nudged higher. Chinese refiners have churned through record volumes of crude so far this year, but …

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• 17 May

  Ryanair posts record loss, but expects to break even

  

  Bloomberg Ryanair Holdings Plc posted a record annual loss, while saying it’s likely to break even this year as vaccination programs allow a gradual easing of coronavirus travel curbs. Bookings have increased significantly in recent weeks, pointing to a strong recovery in the second half, although forward visibility remains “close to zero,” the Irish company said in a statement on …

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• 17 May

  HK, Singapore delay air travel bubble again

  

  Bloomberg An air travel bubble between Singapore and Hong Kong has been delayed as Singapore battles with a rising number of unlinked cases tied to the more aggressive and transmissible coronavirus strain known as B.1.617. A further announcement should be made on or before June 13, the Hong Kong government said in a statement on Monday. Singapore Minister for Transport …

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• 17 May

  China offers banks nearly $16b to maintain liquidity

  

  Bloomberg China’s central bank injected medium-term cash into the financial system, in an effort to keep borrowing costs stable as China’s economy continues its recovery from the coronavirus pandemic. The People’s Bank of China added 100 billion yuan ($15.5 billion) of one-year funds with its medium-term lending facility on Monday, matching the amount coming due in a move that was …

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• 17 May

  Sydney HQ opens for National Australia Bank on hybrid work plan

  

  Bloomberg National Australia Bank (NAB) is opening a new headquarters in Sydney, even as it aims to consolidate its workspace longer term to match more flexible work arrangements for its 31,000 staff around the country. The move by Australia’s third-biggest bank comes amid a push from Wall Street firms to get more of their workers back into the office, and …

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• 17 May

  SocGen to expand corporate banking after trading losses

  

  Bloomberg Societe Generale plans to rely less on trading as Chief Executive Officer Frederic Oudea attempts to turn the firm’s investment bank around following steep trading losses on complex derivatives last year. The Paris-based lender said the business will focus more on corporate banking, allocating more capital to financing, advisory and transaction banking. The firm expects revenue growth from those …

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• 17 May

  Polish lenders still in limbo over franc loans

  

  Bloomberg Polish lenders with foreign-currency mortgages have to wait at least a month longer for a Supreme Court ruling that’s set to determine their exit strategy from the decade-long Swiss franc loan saga. The tribunal’s Civil Chamber adjourned its hearing, asking for opinions from a number of state institutions, including the central bank and the financial regulator. It was supposed …

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• 17 May

  Goldman Sachs on an unprecedented hiring spree in China

  

  Bloomberg Goldman Sachs Group Inc has been on an unprecedented hiring spree in mainland China and Hong Kong in the first four months of the year as the Wall Street titan pushes further into the world’s second-largest economy. The bank is in the process of hiring 320 staff, including 70 to focus on investment banking coverage, said a person familiar …

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• 17 May

  Nomura raises its profit target

  Bloomberg Nomura Holdings Inc raised its pretax income target for the financial year ending March 2023 by 14%, with the bulk of growth expected to come from its wholesale division as it moves on from the implosion of Archegos Capital Management. Japan’s biggest brokerage expects pretax income at its retail, investment management and wholesale divisions to rise to 320 billion …

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