August, 2021

• 24 August

  Toyota supplier says bottom line hit already factored in

  

  Bloomberg Denso Corp, Toyota Motor Corp’s top supplier, says production at the automaker should recover swiftly, leaving Denso on track to beat its own profit forecast for the current fiscal year. Denso will likely take a profit hit of about 20 billion yen ($182 million) to 30 billion yen in September due to Toyota’s production cuts, Chief Financial Officer Yasushi ...

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• 24 August

  Taliban warns of ‘consequences’ if US delays withdrawing its troops

  

  Bloomberg The US military is speaking with the Taliban several times a day, as the group warn of “consequences” if the US delays withdrawing all troops from Afghanistan past an end of month deadline. “It’s a red line,” Qatar-based Taliban spokesman and negotiator Suhail Shaheen said in an interview with Sky News. If the US or UK were to seek ...

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• 24 August

  Japan’s PM faces fresh blow as ally loses vote

  

  Bloomberg Japanese PM Yoshihide Suga suffered a fresh blow amid criticism of his pandemic management, when his favoured candidate lost an election for mayor in city where he began his political career. Hachiro Okonogi was defeated by Takeharu Yamanaka, a former university professor supported by the main opposition Constitutional Democratic Party of Japan, in the race for mayor of Yokohama, ...

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• 24 August

  Goldman Sachs, BofA see lost decades for emerging markets

  

  Bloomberg Elevated commodity prices and expectations for earnings growth are igniting bullish bets on emerging-market equities after more than a decade of underperformance that left them approaching a 20-year low against developed-nation stocks. Goldman Sachs Group, Bank of America Corp (BofA) and Lazard Asset Management expect a boost for developing equities as investors capitalise on cheap valuations once vaccine rollouts ...

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• 24 August

  China’s digital yuan gives banks an edge in payments: Moody’s

  

  Bloomberg China’s digital yuan will help banks become more competitive in the payments sector after steadily losing out to popular technology platforms over the years, according to Moody’s Investors Service. “We expect adoption of e-CNY to help reinforce banks’ position in the payments system because it will enhance their data collection ability and broaden their user bases,” analysts led by ...

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• 24 August

  UBS’s rich Asia clients poured billions into sustainable assets

  

  Bloomberg UBS Group AG’s wealthy Asian clients are pouring billions of dollars into sustainable assets as the region’s swelling ranks of millionaires jump on a global push into socially responsible investing. Assets under management in fully sustainable discretionary portfolios for Asia-Pacific private banking jumped to $4.5 billion as of the end June, up from $1 billion at the start of ...

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• 24 August

  Morgan Stanley asks staff for proof of ‘vaccinations’

  Bloomberg Morgan Stanley is stepping up efforts to ensure employees comply with its rule that they be vaccinated to enter its buildings. The firm told vaccinated staff to provide documentation of their shots by October 1, after previously letting them attest to their status. The extra step is meant to “provide greater comfort for those working in the office,” it ...

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• 24 August

  Citi shorts Treasuries but adds on bet against yuan

  

  Bloomberg Citigroup Global Markets says Treasury yields are set to rise, and there’s a way to screen out one of the main risk factors that may push them lower by betting against the yuan. The US brokerage recommends its clients position for higher US rates and also use options to wager against any strength in China’s currency. The rationale is ...

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• 23 August

  Lloyds to buy 50,000 UK homes

  Bloomberg Lloyds Banking Group Plc could buy 50,000 UK homes in the next decade as it looks to become a major player in the country’s rental market. An internal job advertisement seen by the Financial Times for the bank’s newly launched Citra Living unit details ambitions for Lloyds to purchase 10,000 houses by the end of 2025 and 50,000 by ...

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• 23 August

  Banker bonuses tied to ESG metrics on rise in Europe

  

  Bloomberg European bankers will soon have to show they’re contributing to a cleaner environment, a better society and good governance — or face a smaller pay package. In the latest sign that ESG is reshaping finance, most of the 20 major European banks surveyed by Bloomberg said they were either working on, or already had, a model that links staff ...

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