September, 2021

• 19 September

  China adds $14 billion cash as Evergrande’s pain roils markets

  

  Bloomberg China injected more cash into its banking system in a sign authorities are seeking to avert a funding squeeze amid a seasonal rise in financing demand and the intensifying debt crisis at China Evergrande. The People’s Bank of China (PBOC) added 90 billion yuan ($14 billion) of funds on a net basis through seven-day and 14-day reverse repurchase agreements, ...

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• 19 September

  Mitsubishi mulls sale of US banking unit

  

  Bloomberg Mitsubishi UFJ Financial Group Inc is considering selling its US banking arm, as consolidation heats up in the American financial industry. The Japanese lender is working with an adviser to explore options for MUFG Union Bank NA, said the people, who asked to not be identified because the matter isn’t public. Mitsubishi UFJ has held some informal discussions with ...

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• 19 September

  Goldman Sachs agrees to buy GreenSky for 2.24bn

  Bloomberg Goldman Sachs Group Inc. agreed to buy GreenSky Inc for about $2.24 billion, adding to its Marcus consumer-banking platform a company that offers payment plans to customers with home-improvement projects or health-care needs. The New York-based bank will pay 0.03 share of its common stock for each share of Atlanta-based GreenSky, which works out to about $12.11 a share, ...

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• 19 September

  Banker says India credit market worst she’s seen in two decades

  

  Bloomberg A veteran banker at Kotak Mahindra Bank Ltd said that strains in India’s bond market are at the highest she’s seen in her two-decade career. The flood of cash that the Reserve Bank of India (RBI) has pumped into the market amid the pandemic has headed into shorter notes with top ratings, while there’s little demand for weaker credit ...

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• 19 September

  Royal Bank of Canada shakes up senior ranks

  

  Bloomberg Royal Bank of Canada (RBC) is shaking up its senior ranks, promoting Nadine Ahn to chief financial officer (CFO) and expanding the portfolio of personal and commercial banking head Neil McLaughlin. Ahn currently head of investor relations and finance chief for the capital markets division, will take over as CFO on November 1, the Toronto-based company said in a ...

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• 19 September

  ECB officials see faster inflation risk days after new forecast

  

  Bloomberg European Central Bank (ECB) policy makers signalled they see euro-area inflation potentially exceeding forecasts as economy recovers and supply bottlenecks drive up input prices. The comments by three Governing Council members point to a more heated debate about the central bank’s current ultra-loose policy, with the pandemic-era bond-buying program set to expire by March next year. Their remarks will ...

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• 19 September

  Nigeria holds interest rates

  Bloomberg Nigeria’s central bank left its key interest rate unchanged to support an economy that expanded at a slower pace than expected in second quarter. All 10 members of the monetary policy committee who attended its two-day meeting voted to keep the rate at 11.5% for the sixth straight meeting, Governor Godwin Emefiele said in a virtual briefing from the ...

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• 19 September

  Apple IPhone 13 launches new round of carrier freebies

  

  Bloomberg Let the iPhone 13 price wars begin. With the debut of Apple Inc’s newest phones, AT&T Inc embarked on a second year of giveaways, offering the new iPhone 13 Pro free to new and existing customers who have qualifying trade-ins and unlimited data plans, a deal worth as much as $1,000. T-Mobile US Inc is matching the iPhone 13 ...

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• 18 September

  TikTok unveils tools in app to tackle mental-health issues

  

  Bloomberg TikTok, the video-sharing app owned by China’s ByteDance Ltd, said it’s stepping up tools to support users facing mental health issues, including redirecting potentially distressed users to suicide-prevention or eating-disorder resources. When users search the app for terms like “suicide,” TikTok will point them to local support organisations such as the Crisis Text Line to find treatment, the company ...

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• 18 September

  Japan steps up self-driving to revive rural areas, help elderly

  

  Bloomberg Japan is bolstering its autonomous driving ambitions with a new project to be formally introduced on Wednesday to expand the use of self-driving vehicles in more than 40 locations around the country by 2025. The “Road to the L4” project aims to popularise advanced mobility services including Level 4 autonomous driving, wherein vehicles can operate without a human at ...

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