October, 2021

• 31 October

  Japan’s coalition poised to keep power

  

  Bloomberg Japanese Prime Minister Fumio Kishida’s ruling party may be on track for its worst election result in 12 years, but is expected to stay in power with help from its junior coalition partner, according to exit polling by broadcaster NHK from Sunday’s election. The LDP alone is set to win 212-253 seats in the 465-seat body after the vote, ...

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• 31 October

  Georgian ruling party wins local vote

  

  Bloomberg Georgia’s ruling party all but swept the board in second-round local elections that have been marred by violence and claims by the opposition that the vote was unfair. Only in one municipality did the ruling Georgian Dream party fail to beat the United National Movement, the Central Election Commission said on Sunday. In the battle for mayor of the ...

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• 31 October

  China rushes nearly $156bn into banks in just two weeks

  

  Bloomberg China is pushing almost a trillion yuan ($156 billion) of funds into the banking system in just two weeks, reinforcing a signal that it will use short-term liquidity to sustain growth rather than ease monetary policy. In a pattern seen also in September, the People’s Bank of China (PBOC) has been injecting huge amounts of cash through open-market operations ...

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• 31 October

  Deutsche to boost hiring as war for talent rages

  

  Bloomberg Deutsche Bank AG Chief Financial Officer James von Moltke said the investment bank is pressing ahead with hiring in areas including mergers and acquisitions and rates in the US to grow its business. The firm has also been selectively hiring for government bond trading in Europe as well as in technology and healthcare dealmaking, Von Moltke said on a ...

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• 31 October

  RBI chief Das gets new 3-year term as India charts recovery

  

  Bloomberg India reappointed central bank Governor Shaktikanta Das for another three-year term, keeping the career bureaucrat at the helm to help guide the economy’s recovery from the ravages of Covid-19. The decision, announced in a statement from the cabinet and effective when his current term ends December 10, ensures continuity in monetary policy settings and signals to investors that any ...

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• 31 October

  Santander sees strongest demand for UK mortgages

  Bloomberg Banco Santander SA is seeing the strongest demand for UK mortgages in “many, many years,” helping to underpin growth at the Spanish lending behemoth as it positions for higher interest rates globally, Chief Financial Officer Jose Garcia Cantera said. Lending for mortgages to British individuals climbed 4.4% from a year earlier to 174 billion pounds ($240 billion), Santander said ...

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• 31 October

  BNP plans $1bn buyback as equities, domestic unit beat

  

  Bloomberg BNP Paribas SA will start a 900 million-euro ($1 billion) stock buyback after posting a 79% jump in equities trading and adding twice as much revenue as expected at its domestic markets unit. Strength in the two businesses helped offset a slump in fixed income trading that was twice as steep as the average decline at the biggest Wall ...

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• 31 October

  Ex-Wells Fargo adviser charged with client fraud

  Bloomberg A former Wells Fargo & Co. investment adviser stole nearly $3 million from clients and used the money for personal expenses and to buy gold coins, federal prosecutors said. Kenneth A. Welsh, 41, was arrested at his home in River Edge, New Jersey on charges that he misappropriated funds from the accounts of five investors between 2016 and 2021, ...

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• 31 October

  UBS joins Wall Street rivals with third-quarter profit surge

  

  Bloomberg UBS Group AG posted a surprise jump in profit as wealth management fees soared the most in almost three years and the firm followed Wall Street rivals in seizing on the deal boom. The Zurich-based bank topped expectations on most key metrics, including investment banking pre-tax profit that was almost double what analysts had predicted. At the key wealth ...

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• 31 October

  A year after China’s crackdown, battered tech stocks still struggle

  

  Bloomberg A year after Beijing kicked off a policy clampdown that roiled stock markets from Shanghai to New York, the most beaten-down targets — China’s technology firms — are still facing a rocky outlook. The Hang Seng Tech Index, which tracks the nation’s biggest technology companies, has failed to break out of the tight trading range it has been in ...

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