April, 2021

• 4 April

  Putin foe Navalny risks death in prison hunger strike, says ally

  

  Bloomberg Russian opposition leader Alexey Navalny risks dying in prison as he continues a hunger strike to press authorities into allowing him proper medical care, an ally said. Navalny, 44, began refusing food on Wednesday to demand treatment for acute pain in his back that’s spreading to his legs, and an end to prison guards waking him each hour. He ...

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• 4 April

  Maoist rebels kill 22 Indian security forces in gun battle

  

  Bloomberg Maoist rebels killed at least 22 Indian security personnel in an ambush in the central state of Chhattisgarh, according to local newswire Press Trust of India (PTI). The incident happened when a joint security team including the Central Reserve Police Force (CRPF) engaged with armed guerrillas in forested areas along Bijapur and Sukma districts on April 3, PTI reported, ...

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• 4 April

  China intends to occupy more disputed areas: Philippines

  

  Bloomberg The presence of China’s “maritime militia” near a South China Sea reef shows Beijing’s intent to occupy more disputed areas, Philippine Defense Secretary Delfin Lorenzana said in a statement on Sunday. China has “done this before” in other contested areas like Scarborough Shoal and is “brazenly violating Philippine sovereignty,” Lorenzana said. He was reacting to a statement from China’s ...

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• 4 April

  Scottish nationalists seen winning ‘supermajority’

  

  Bloomberg Scottish nationalist parties could win a pro-independence “supermajority” in the May election, according to the latest opinion poll, which shows unionist parties suffering the most from the creation of a new separatist party last month. First Minister Nicola Sturgeon’s Scottish National Party is seen winning 65 seats on May 6, giving it an outright majority of one, according to ...

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• 4 April

  China drafts tougher capital rules for too-big-to-fail banks

  

  Bloomberg China’s financial regulators plan to impose additional capital requirements on the nation’s systemically important banks, seeking to curb risks and safeguard stability of the $49 trillion industry. Banks considered too big to fail will be put into five categories and face a surcharge of between 0.25% and 1.5% on top of the mandatory capital adequacy ratios, the People’s Bank ...

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• 4 April

  Commerzbank to record $550mn charge for job cuts

  

  Bloomberg Commerzbank AG will post a restructuring charge of 470 million euros ($550 million) in the first quarter for its job-cuts program, adding to about a billion euros of related costs booked previously. The German lender is taking the charge to account for 1,700 job cuts agreed with the works council, it said in a statement. New Chief Executive Officer ...

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• 4 April

  S&P cuts Credit Suisse outlook to negative as bonds tumble

  

  Bloomberg S&P Global Ratings downgraded its outlook on Credit Suisse Group AG to negative from stable, as the fallout from the Archegos Capital Management crisis impacts the Swiss bank’s debt and shares. Credit Suisse is one of the most exposed banks to the family office of former hedge fund manager Bill Hwang, with potential losses from the unwinding of positions ...

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• 4 April

  Wells Fargo plans for return to office soon

  

  Bloomberg Wells Fargo & Co., the US bank with the largest workforce, is making plans to bring its employees back into offices in September. The company, which has about 200,000 employees working from home, is extending that arrangement through September 6, and aims to return to a “more normal operating model” that month, according to a memo from Chief Executive ...

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• 4 April

  Biggest rupee bear sees Asia’s top FX hitting one-year low

  

  Bloomberg The Indian rupee, Asia’s best-performing currency in March, is going to slide right back to levels last seen in the depths of the pandemic meltdown, according to Parul Mittal Sinha at Standard Chartered Plc. The currency will drop towards 76.5 to a dollar — about 4% weaker than current levels — by the end of the year, said the ...

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• 4 April

  BofA to train 1,800 campus hires online

  Bloomberg Bank of America Corp. (BofA) said the 1,800 new graduates it’s hiring will be trained online, but are likely to work in offices. Virtual training and orientation, including any licensing needed, will begin in July for the bank’s campus hires, with the aim of having new employees at offices in October, Bank of America said. In-office assignments will depend ...

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