September, 2019

• 25 September

  Santander to take $1.7 billion charge on troubled UK unit

  

  Bloomberg Banco Santander SA will take a 1.5 billion-euro ($1.7 billion) charge over its UK business, which has struggled to boost profit amid stricter regulations and a competitive mortgage market. The impairment will be included in third-quarter results, the Spanish lender said. It won’t affect the bank’s cash flow or tier 1 capital ratio, a key measure of financial strength. …

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• 25 September

  Ghana pension funds safe from ‘managers’

  

  Bloomberg Ghana’s pension funds are safe from the crisis engulfing money managers caught in the aftermath of a banking-industry cleanup. “The only way some may have been affected is if they made fixed-term investments with some of the banks that were shut down,” Hayford Attah Krufi, chief executive officer of the National Pensions Regulatory Authority, said. “But, because the government …

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• 25 September

  Philippines set to cut interest rates again

  

  Bloomberg Central banks in the Philippines and Thailand will grapple with mounting global risks when they decide interest rates this week, keen to bolster their economies against slower growth. Thailand was expected to keep interest rates unchanged on Wednesday after a surprise reduction last month, while a day later the Philippines will probably lower its benchmark rate for a third …

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• 25 September

  Nigeria sees most banks raising lending to meet new ratio

  

  Bloomberg Central Bank of Nigeria Governor Godwin Emefiele said most of the country’s banks have obeyed a directive to raise loan-to-deposit ratio to 60 percent and those that fail to do so will face penalties by October 1. “Compliance level has been excellent,” Emefiele said in an interview with Bloomberg TV in London. “Not all the banks have complied, naturally. …

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• 25 September

  Italy proposes Fabio Panetta for ECB board

  Bloomberg Italy has proposed veteran central banker Fabio Panetta as its candidate to replace Benoit Coeure as one of the European Central Bank’s top policy makers, according to a government official familiar with the matter. The Italian finance ministry sent Panetta’s candidacy to Mario Centeno, who leads the group of euro-area finance chiefs that will decide who joins the ECB’s …

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• 25 September

  Sustainable investing must go mainstream: Goldman

  Bloomberg Banks and other financial firms need to get creative to bring sustainable investments into the mainstream, said David Solomon, Goldman Sachs’s CEO. Conversations with clients about climate exposure have “amped up materially” over the last two years, but sustainable investments like green bonds are still “relatively niche,” Solomon said at the Bloomberg Global Business Forum in New York. Such …

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• 25 September

  Indian central bank denies rumours of bank closures

  

  Bloomberg Indian authorities are scrambling to suppress speculation about bank closures a day after the regulator imposed restrictions on a local lender, the latest indication of how jittery savers are amid a slowing economy and scandals in the financial system. “Reports appearing in some sections of social media about RBI closing down certain commercial banks are false,” the Reserve Bank …

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• 25 September

  US equity futures decline, Europe stocks dip; oil falls

  

  Bloomberg US equity-index futures dipped while stocks slumped in Europe and Asia as investors weighed the deepening political gridlock in Washington against prospects for reduced trade tension between America and China. The dollar advanced and oil fell. Contracts for all three main equity gauges signalled more declines at the New York open as traders grappled with the impeachment investigation into …

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• 25 September

  India’s Sensex snaps 3-day winning run

  Bloomberg India’s equities benchmark snapped a three-day winning streak, tracking declines in global stocks, as investors assessed the potential fallout of an impeachment inquiry of US President Donald Trump. The S&P BSE Sensex dropped 1.3 percent to 38,593.52 at the 3:30 pm close in Mumbai, while the NSE Nifty 50 Index also fell by the same magnitude. Both gauges surged …

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• 25 September

  BofAML spots bargain upside bet on US stocks

  Bloomberg For US equity investors wary of a sell-off but loath to miss out on a stocks rally, Bank of America Merrill Lynch is pitching an options strategy known as a calendar risk reversal. Relatively muted swings and a wide price gap between bullish and bearish options bets means it is attractive to sell a medium-term put on the S&P …

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