November, 2021

• 21 November

  US banks told to report hacks within 36 hours

  

  Bloomberg Banks must report major cyberattacks to regulators within 36 hours if the incident is likely to disrupt their business, according to a new rule from US regulators. Any “computer security incident” that threatens a lender’s operations, services to customers or the stability of the financial system has to be disclosed to the bank’s primary government watchdog, according to a ...

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• 21 November

  Credit Suisse brings property CLOs popular in US to Europe

  

  Bloomberg Credit Suisse Group AG completed Europe’s first commercial real estate collateralised loan obligation, according to lawyers involved in the deal, breaking into a market that’s more than doubled in the US. The bank sealed a deal with commercial real estate lender Starz Real Estate, according lawyers at Reed Smith who represent the borrower. The agreement, denominated in euros and ...

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• 21 November

  Iceland delivers its biggest hike since Covid-19 crisis

  Bloomberg Iceland’s central bank delivered its biggest hike since the coronavirus crisis struck in a bid to quell inflation and a rampant housing market. Policy makers in Reykjavik lifted seven-day term deposit rate by 50 basis points to 2%, highest level since March 2020. “The inflation outlook has deteriorated somewhat since August, owing in part to more persistent global price ...

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• 21 November

  Banks can help accelerate net-zero emissions: HSBC

  

  Bloomberg Banks will play a key role in helping drive a reduction in carbon emissions through advising clients on how best to address their environmental footprint, according to a senior executive at HSBC Holdings Plc. “Catalyst is the word I use, but it’s in a very proactive sense,” Colin Bell, who leads HSBC’s European unit, said in a panel discussion ...

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• 21 November

  LGT plans to double Japan staff

  Bloomberg LGT, a private bank owned by the Princely House of Liechtenstein, plans to double staff in Japan as it joins global rivals targeting $17 trillion of household wealth in the Asian country. LGT Wealth Management Trust Inc, which kicked off services in Japan last month, wants to build a workforce of 70 to 80 over the coming three years, ...

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• 21 November

  Biggest risk of crypto is missing out, warns Aussie banker

  

  Bloomberg One of the biggest risks banks face when it comes to cryptocurrencies is being left out of the market altogether. That’s the view from Commonwealth Bank of Australia (CBA) Chief Executive Officer Matt Comyn, who says although the digital assets are “very volatile and speculative”, banks need to be involved in the adoption of technology underpinning crypto and the ...

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• 21 November

  China bargain hunters trigger 388% increase in ETF assets

  

  Bloomberg One exchange-traded fund (ETF) shows how investors are increasing bets on a rebound in Chinese property junk bonds. Surging inflows have lifted total assets of the iShares USD Asia High Yield Bond Index ETF to $1.87 billion from $383 million at the end of August, an increase of 388%. In October alone, the fund attracted a record $773 million. ...

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• 21 November

  Travel-tied stocks slide as Covid-19 jitters spook traders

  

  Bloomberg Investors are running away from companies that stand to benefit from a return to normalcy as Covid-19 cases mount in the US and the virus wreaks havoc in Europe. Cruise ship operators Carnival Corp, Royal Caribbean Cruises Ltd. and Norwegian Cruise Lines Holdings Ltd each closed down more than 2% as investors piled into less risky assets. The S&P ...

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• 21 November

  Return to normal puts S&P 500 at 5,000 in June: Lovell

  Bloomberg A less volatile year is ahead for markets, should a forecast by UBS Global Wealth Management’s Nadia Lovell play out. “Next year, we think financial markets will discover what normal looks like from a growth and an inflation standpoint,” the firm’s senior US equity strategist said in an interview on Bloomberg TV’s Surveillance. “In that environment, the S&P can ...

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• 21 November

  UAE sets integrated system to safeguard children’s rights, care

  

  ABU DHABI / WAM His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court and the Chairman of the Abu Dhabi Early Childhood Authority (ECA) emphasised that the UAE is dealing with children’s issues through an integrated system, at the legislative, educational, cultural and health levels. His Highness Sheikh Theyab indicated that ...

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