March, 2021

• 14 March

  Deutsche Bank investment unit bonuses up 46% after boom year

  

  Bloomberg Deutsche Bank AG jacked up its investment banking bonus pool by almost half after a blowout year in the markets, a far cry from the lean years when traders called the annual pay announcement the “day of long faces.” A 46% jump in variable compensation for investment bankers, and a 29% increase across all units at Germany’s largest lender, ...

  Read More »
• 14 March

  Citigroup creditors seek to end freeze on mistaken transfers

  

  Bloomberg A group of asset managers for Revlon Inc. lenders urged a judge not to extend a freeze on more than $500 million that they accidentally received from Citigroup Inc. while the bank appeals a ruling that they don’t have to return it. Citibank sought the freeze because it’s upset that the lenders received a “lottery-like windfall,” the group said ...

  Read More »
• 14 March

  Credit Agricole urged to raise Creval bid by top investor Alta

  

  Bloomberg Alta Global, one of Credito Valtellinese SpA’s biggest shareholders, is urging Credit Agricole SA to increase its all cash-offer for the Italian lender, boosting the camp of shareholders pushing back against the current bid. “At the current offer price, Alta Global will not adhere to the bid,” Viatcheslav Pivovarov, the founder and CEO of the investment firm previously called ...

  Read More »
• 14 March

  British banks lost 10,000 women in diversity blow

  

  Bloomberg More women than men have left British banks during the pandemic, undermining the sector’s pledges to become more diverse. The number of women at the UK’s five biggest lenders shrink by 3% during 2020, according to data compiled by Bloomberg News, while men saw a decline of about 2.1% as banks pushed ahead with long-planned cost cuts and adapted ...

  Read More »
• 14 March

  TDB gives staff eight hours off for vaccines

  Bloomberg Toronto-Dominion Bank (TDB) plans to give workers up to eight hours of paid time off for coronavirus vaccinations. Workers will receive as many as four hours of paid time off for the vaccine and as many as four additional hours if a second dose is required, according to a memo from Kenn Lalonde, executive vice president of human resources. ...

  Read More »
• 14 March

  Credit Suisse to wind down frozen Greensill-linked funds

  

  Bloomberg Credit Suisse Group AG plans to wind down a $10 billion group of supply chain finance funds linked to financier Lex Greensill that it suspended this week because of valuation concerns. The Swiss bank said it will make the first payments to investors — amounting to approximately 80% of the available cash and cash equivalents — for the Luxembourg-domiciled ...

  Read More »
• 14 March

  Masters of equities universe are unfazed by spike in bond yields

  

  Bloomberg The recent rise in interest rates triggered a bout of volatility, but it’s not making the pros in the stock market run for the hills just yet. Some of the world’s biggest fund managers say equities can persevere and continue rallying through the rise in government bond yields. They are focusing instead on prospects for a powerful economic and ...

  Read More »
• 14 March

  China’s plan to trim debt makes stock-market reforms more urgent

  

  Bloomberg China’s policy makers, spurred to act by ballooning debt, are trying to get the country’s $10.7 trillion stock market to play a larger role in funding the economy. Top officials meeting in Beijing said they would push ahead with more equity-market reforms in 2021, accelerating a campaign aimed at encouraging more share sales from local firms. Initiatives like new ...

  Read More »
• 14 March

  Oil drops for first week in two months with rally losing steam

  

  Bloomberg Oil in London falls for the first week in two months as signals of a patchy demand rebound across the globe and a stronger dollar held back crude’s rally. Global benchmark Brent futures fall 0.6%. West Texas Intermediate also edged lower, posting its first weekly decline in three weeks. A fresh bout of bond volatility spurred a risk-off mood ...

  Read More »
• 14 March

  UAE ministry explores boosting defense sector

  

  Abu Dhabi / WAM The UAE’s Ministry of Industry and Advanced Technology (MoIAT) hosted the fifth session of its ‘Future of Industry Dialogue’ series. Convening relevant local entities operating in the defense sector, the virtual meeting falls within the framework of the Ministry’s continued efforts to boost the UAE’s industrial sector and enhance the competitiveness of local products. The meeting ...

  Read More »