June, 2021

• 22 June

  Spain to pardon Catalans jailed over illegal referendum

  

  Bloomberg Spanish Prime Minister Pedro Sanchez said he plans pardons for nine Catalan separatists who were jailed for their role in the illegal independence referendum of 2017. Speaking to an audience of civic leaders in the Catalan capital, Barcelona, Sanchez, 49, said he’ll recommend that his cabinet approves pardons when it meets on Tuesday. Sanchez is currently governing in a ...

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• 22 June

  ECB to give banks $83 billion capital relief with extension

  

  Bloomberg The European Central Bank (ECB) said it will grant lenders about 70 billion euros ($83 billion) of capital relief by extending a measure designed to help them keep supplying credit to the pandemic-struck economy. The ECB will allow lenders to continue to exclude deposits held at central banks when calculating their leverage ratio for nine months until the end ...

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• 22 June

  HSBC aims to be leading Asia wealth manager in 5 years

  

  Bloomberg HSBC Holdings is targeting to become the number one wealth manager in Asia in “roughly five years” as Europe’s largest bank shifts capital to tap clients in the increasingly affluent region, according to HSBC Pinnacle Venture Chief Executive Officer Trista Sun. “Household wealth in China has grown so rapidly, become the second largest globally,” Sun said in a Bloomberg ...

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• 22 June

  Citi slumps after warning of costs rising, revenue slipping

  

  Bloomberg Citigroup Inc shares fell the most in five months after the bank warned expenses would increase sharply as it invests to satisfy a pair of consent orders from regulators. Expenses in second quarter will likely jump to “somewhere in the middle” of a range of $11.2 billion to $11.6 billion, Chief Financial Officer Mark Mason told investors at a ...

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• 22 June

  China unveils new method to calculate bank deposit rates

  

  Bloomberg China adjusted how banks can set deposit rates in a move that could lower longer term funding costs and boost economic growth. Under a new way of calculating the ceiling on deposits rates, banks will be allowed to add basis points on top of the existing benchmark rate instead of as before using a multiple. Under the new regime, ...

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• 22 June

  Bank TSB to ban crypto purchases

  

  Bloomberg TSB Banking Group is set to ban more than 5 million customers from buying cryptocurrencies amid fears over “excessively high” fraud rates on trading platforms, according to a report by Telegraph newspaper. The company is the latest British bank to crack down on financial cyber-crime following temporary moves by Barclays Plc, Monzo Bank and Starling Bank to block transfers ...

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• 22 June

  Canada hires TD, HSBC for its debut green bond sale

  

  Bloomberg Canada hired HSBC Holdings Plc and Toronto-Dominion Bank (TD) for its inaugural sale of green bonds, joining other nations including the UK and Germany in pursuing environmentally-friendly debt issuance. The banks will advise on the design of Canada’s green bond framework, assist in the development of an ongoing program and support the debut issuance, according to statements. The country ...

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• 22 June

  US futures advance with stocks as Fed jitters ease

  

  Bloomberg US equity futures climbed with European stocks on Monday as markets regained a measure of calm following volatility spurred by the Federal Reserve’s surprise hawkishness. Contracts on the S&P 500 advanced after spending most of the Asia session in the red. The Stoxx 600 Index also rebounded from an earlier loss, with UK grocer Wm Morrison Supermarkets Plc surging ...

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• 22 June

  Japanese stocks fall as hawkish Fed damps cyclical appeal

  

  Bloomberg Japanese stocks declined by the most in almost four months, extending losses from late last week as hawkish comments from the US Federal Reserve crushed the reflation trade that had driven the market earlier this year. The selloff briefly sent the Nikkei 225 Stock Average down as much as 4%, the most since April 2020, amid a global selloff ...

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• 21 June

  Sharjah is committed to support refugees, says Sultan Al Qasimi

  

  Sharjah / WAM “Sharjah is committed to supporting refugees around the world by extending a strong and reliable helping hand reflected in several sustainable humanitarian programmes that mirror the ethos of our cultural project”, said HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, during a virtual event held to honour the winner of ...

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