October, 2021

• 10 October

  Barclays mulls shaking its macro trading desks

  

  Bloomberg Barclays Plc is considering shaking up parts of its global markets unit that are underperforming as the lender prepares for volatility drying up after the pandemic. Global markets head CS Venkatakrishnan, known to colleagues as Venkat, told employees recently that while equities and credit trading had held up well lately, parts of its macro trading unit including European interest ...

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• 10 October

  RBA says risks remain for excessive borrowing

  

  Bloomberg The Reserve Bank of Australia (RBA) said it is important that lending standards are maintained as the risk remains from excessive borrowing in the country’s housing market. “In Australia, and some other countries, there have been large increases in housing prices and an acceleration in borrowing,” the central bank said in its semi-annual Financial Stability Review. “Vulnerabilities can increase ...

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• 10 October

  Inflation to fall below 2% by end-2022: ECB’s Villeroy

  Bloomberg Bank of France Governor Francois Villeroy de Galhau said he expects inflation in the euro area to peak in coming months and for price increases to fall below 2% by the end of 2022. Villeory, who is also a member of the European Central Bank’s governing council, said the jump in inflation was a temporary bump linked to the ...

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• 10 October

  BOE interest rate hike would hit a fifth of existing UK mortgages

  

  Bloomberg A Bank of England (BOE) interest-rate increase would hurt a fifth of existing mortgage holders, heaping misery on households already struggling with higher food and fuel costs. More than 21% of outstanding residential mortgages in the UK have variable interest rates, meaning the cost of repayments changes when the benchmark lending rate changes, according to data through June from ...

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• 10 October

  JPMorgan sees rising risk of bonds

  Bloomberg Persistent inflation could trigger more spells when bonds and equities move in tandem, according to JPMorgan Chase & Co analysts, posing a headache for investors who use fixed-income securities to shelter some of their portfolios from stock-market drops. The bond-market selloff in September coincided with the S&P 500 shedding 4.8%, a lockstep move that battered multi-asset investors. A basket ...

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• 10 October

  Peru raises key rate to curb fastest inflation in 12 years

  

  Bloomberg Peru tightened monetary policy for a third straight month after inflation surged to its highest rate in 12 years and political volatility roiled the currency. The central bank lifted its benchmark rate half a percentage point, to 1.5%, matching the median forecast of economists surveyed by Bloomberg. It was the third consecutive rate hike by the bank led by ...

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• 10 October

  Facebook, Instagram back to normal after another outage

  

  Bloomberg Thousands of users of Facebook Inc’s main social network and Instagram photo-sharing app reported having trouble accessing the services for a short stretch midday, the second time in a week they were out of reach for a wide swath of people. More than an hour after apologising for the outages, Instagram said on Twitter that the situation was resolved. ...

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• 10 October

  Volvo recalls 460,000 cars after air-bag rupture fatality

  

  Bloomberg Volvo Car AB is recalling more than 460,000 vehicles worldwide over risk an air-bag component that’s bedeviled automakers for years could rupture into metal fragments and strike drivers. The Swedish carmaker told the US National Highway Traffic Safety Administration (NHTSA) it has identified potential for tablets of propellant in its vehicles’ air-bag inflators to decay if they’re subject to ...

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• 10 October

  Nissan unveils green factory for next-generation EVs

  

  Bloomberg Nissan Motor Co is planning to spend more than 130 billion yen ($1.2 billion) implementing new technologies that will make its global factories more efficient, less polluting and ready to produce next-generation cars such as electric vehicles. As part of its “Intelligent Factory Initiative,” Nissan has spent about 33 billion yen over the past two years installing advanced equipment ...

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• 10 October

  UK automakers see weakest sales in Sept

  Bloomberg Automakers logged their weakest September sales in the UK since 1998 as the global shortage of semiconductors constrains production. Registrations plunged more than a third from a year ago to 215,312 cars, according to the Society of Motor Manufacturers and Traders. It’s a significant blow to the industry because September is typically the market’s second-busiest month of the year. ...

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