November, 2021

• 25 November

  Atom Bank moves to four-day work week without cutting pay

  

  Bloomberg Atom Bank has moved to a four-day working week, one of the most dramatic flexible working policies introduced by a finance firm since the pandemic upended office norms. The UK fintech, which has 430 employees, moved to a four-day week, the digital lender said in a statement. Contractual working hours will be reduced by 3.5 hours to 34 hours ...

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• 25 November

  Australia will closely monitor risk premiums to detect asset bubbles

  

  Bloomberg Australia’s central bank will closely monitor risk premiums to judge whether asset prices appear “sensibly valued,” especially at a time of record low interest rates, said Marion Kohler, head of the domestic markets department. “Asset prices increase when risk-free rates are low, and this is part of the monetary transmission mechanism,” Kohler said in the text of a speech. ...

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• 25 November

  DBS faces second day of digital banking outages

  Bloomberg DBS Group Holdings Ltd is facing a second day of outages in its online banking services, marking one of the worst digital disruptions for Southeast Asia’s biggest lender in a decade. The disruptions in DBS’s digital services — an area where the Singapore-based bank has invested in heavily — started early Tuesday and resurfaced on Wednesday. The problems stemmed ...

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• 25 November

  New Zealand’s central bank raises rates again

  

  Bloomberg New Zealand’s central bank raised interest rates for the second time in two months and signalled it will need to tighten policy more quickly than previously expected to contain the inflation. The Reserve Bank’s Monetary Policy Committee lifted the official cash rate by a quarter percentage point to 0.75% on Wednesday, as expected by most economists. New forecasts published ...

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• 25 November

  Dollar rises to four-year high against yen

  Bloomberg The dollar surged past a key level against the yen for the first time since 2017, as the renomination of Jerome Powell as Federal Reserve chair fuelled bets that the US might tighten policy more quickly. The dollar-yen climbed as much as 0.2% to 115.14 — a Japanese market holiday — surpassing the psychologically important 115 level. Treasury yields ...

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• 25 November

  Citi to recruit 100 people in push into digital assets

  

  Bloomberg Citigroup Inc is looking to hire 100 people as part of a new push into digital assets inside its institutional business, according to a person familiar with the matter. As part of the effort, the firm tapped Puneet Singhvi to be its new head of digital assets inside the institutional-clients group, according to a memo to staff seen by ...

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• 25 November

  Treasury yields decline; oil advances despite reserves

  

  Bloomberg US Treasuries rise as traders tempered their expectations for monetary-policy tightening after New Zealand’s measured approach to rate hikes. Oil prices climbed as producers and major consuming nations headed for a confrontation. Signals from the stock market were mixed, with the European benchmark opening higher while US index futures fell modestly. Energy stocks were among the best performers in ...

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• 24 November

  Bitcoin morphs back into risk asset as stock correlation climbs

  

  Bloomberg Speculative stocks had a rough day, as did Bitcoin and other cryptocurrencies. To some market-watchers, that’s no coincidence. The 100-day correlation coefficient of Bitcoin and the S&P 500 stands at 0.33, among the highest readings of the year. That means that when stocks move up, Bitcoin is likely to do the same, and vice versa. (A coefficient of 1 ...

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• 24 November

  Sheikh Mohamed to discuss bilateral ties with ErdoÄŸan

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, will be on an official visit to Turkey on Wednesday, at the invitation of President Recep Tayyip ErdoÄŸan. His Highness will discuss with the Turkish President the prospects of consolidating bilateral ties across various ...

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• 24 November

  Oil advances with global SPR release smaller than expected

  

  Bloomberg Oil climbed, erasing an earlier loss, as a landmark plan from consumers to tap their strategic oil reserves was less severe than markets expected. Futures in New York wiped out losses to trade above $77 a barrel after Tuesday’s statement from the White House. While the headline size of the US release is large, a significant chunk of the ...

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