November, 2021

• 2 November

  BOE’s hawkish push turns rate decision into credibility test

  

  Bloomberg Bank of England (BOE) policy makers are heading into their meeting this week knowing that failure to deliver a once-unthinkable interest-rate hike would now raise serious questions over their credibility with markets. Investors are almost fully pricing in a 15-basis point increase in the benchmark lending rate on November 4, while economists increasingly share that view, even as they ...

  Read More »
• 2 November

  Westpac plans $2.6 billion share buyback, profit up

  

  Bloomberg Westpac Banking Corp shares dropped more than 5% in Sydney trading after delivering a smaller share buyback than many had expected and amid concern margins remain under pressure. The lender unveiled a record share buyback of up to A$3.5 billion ($2.6 billion), while cash earnings of A$5.35 billion fell short of analyst expectations of A$5.42 billion in the year ...

  Read More »
• 2 November

  European banks boost payouts with $5 billion in new buybacks

  

  Bloomberg European lenders are boosting shareholder payouts a month after pandemic-related restrictions expired, with more than $5 billion in buybacks. Spain’s Banco Bilbao Vizcaya Argentaria SA said it obtained regulatory approval to repurchase 3.5 billion euros ($4.1 billion) of shares. BNP Paribas SA will start repurchasing 900 million euros of stock next month. In total, the biggest banks in the ...

  Read More »
• 2 November

  Nomura shares sink 7% after earnings plunged

  

  Bloomberg Nomura Holdings Inc shares fall after earnings plunged and Japan’s largest brokerage took a $341 million provision for an ongoing legal case. The stock declined 7.1% in Tokyo on Monday. The firm said it’s set aside 39 billion yen for the transaction in the US that dates back to before the global financial crisis, after reporting a 95% slide ...

  Read More »
• 2 November

  UK banks up mortgage costs

  Bloomberg UK high street banks start raising mortgage costs ahead of the Bank of England’s interest-rate decision next week amid signs of resurgent inflation. Barclays Plc is increasing a 2-year fixed rate by 0.35 percentage point, which follows similar moves by lenders including HSBC Holdings Plc, NatWest Plc and Lloyds Banking Group Plc. The increase in borrowing costs threatens a ...

  Read More »
• 2 November

  NatWest shares fall as margin pressures overshadow profit rise

  

  Bloomberg NatWest Group Plc beat profit forecasts in the third quarter, yet shares in the British lender fell as analysts highlighted a squeeze on loan margins and the bumpy transformation of its markets unit. The UK’s biggest corporate lender said operating profit before tax rises to $1.5 billion, almost double analyst estimates compiled by Bloomberg. While demand for home loans ...

  Read More »
• 2 November

  Jes Staley to step down as Barclays CEO

  Bloomberg Barclays Chief Executive Officer Jes Staley is stepping down amid a UK regulatory probe into how he characterised his ties to the financier Jeffrey Epstein. Staley, 64, is leaving, according to a statement. CS Venkatakrishnan, who was promoted last year to run the Barclays markets division and was previously chief risk officer, will replace him as CEO. The bank ...

  Read More »
• 2 November

  Stocks wobble as traders weigh earnings, economy

  

  Bloomberg Stocks fluctuated as traders assessed corporate earnings and economic data, with the Federal Reserve getting ready to wind down stimulus. The S&P 500 was little changed as losses in technology shares offset gains in commodity and retail firms. The Dow Jones Industrial Average earlier touched the 36,000 level for the first time. A gauge of small caps climbed about ...

  Read More »
• 2 November

  Japan’s stocks jump as ruling coalition secures poll victory

  

  Bloomberg Japanese stocks jumped after the ruling coalition secured an election victory that was better than many had expected, paving the way for the administration of Fumio Kishida to begin enacting economic stimulus. The benchmark Topix gained 2.2%, the most since September 24, while the blue-chip Nikkei 225 Stock Average climbed 2.6%, the most since June 22. Utilities were among ...

  Read More »
• 1 November

  Sheikh Mohamed orders golden visas for frontline heroes, families

  

  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, has directed granting Golden Visas to “frontline heroes” and their families. Those eligible include the families of fallen frontline heroes, and distinguished individuals whose extraordinary efforts helped protect the nation and its people throughout ...

  Read More »