January, 2021

• 26 January

  New Zealand to keep its border closed to world

  

  Bloomberg New Zealand is likely to keep its border closed to the world through most of 2021 amid uncertainty over the rollout of Covid-19 vaccines, Prime Minister Jacinda Ardern said. “We can expect our borders to be impacted for much of this year,” Ardern told a news conference on Tuesday in Wellington. “We will continue to pursue travel bubbles with ...

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• 26 January

  India farmers clash with police, swarm Delhi

  

  Bloomberg Thousands of Indian farmers on Tuesday escalated protests to revoke controversial agricultural laws, clashing with police and storming key landmarks in New Delhi to pressure Prime Minister Narendra Modi. The farmers, who have camped at various border points around the capital for two months, had permission to demonstrate after the completion of an annual military parade to mark Republic ...

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• 26 January

  UBS plans $4.5 billion buyback after wealth management surge

  

  Bloomberg UBS Group AG plans to buy back as much as 4 billion francs ($4.5 billion) of shares over the next three years, bolstering shareholder returns after income from managing client assets and investment banking propelled gains at the world’s largest wealth manager. The lender is doubling the size of a previous repurchase program and said it expects to buy ...

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• 26 January

  African bank reports full-year loss after CEO’s surprise exit

  

  Bloomberg African Bank Holdings Ltd. reported a full-year loss a day after announcing the unexpected resignation of Basani Maluleke, the only Black women to lead one of South Africa’s top banks. The unsecured lender swung to a 560 million-rand ($37 million) loss in the 12 months through September, compared with a year-earlier profit of 267 million rand, Johannesburg-based African Bank ...

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• 26 January

  Yi says PBOC seeks to balance stabilising growth, curb risks

  

  Bloomberg The People’s Bank of China (PBOC) will seek to balance supporting economic growth and curbing emerging risks, Governor Yi Gang said, signalling a continuation of the central bank’s existing policy stance. “Going forward, China’s monetary policy will, on one hand, adjust to new economic developments in a timely manner, and on the other hand maintain policy stability to avoid ...

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• 26 January

  Italy’s UniCredit narrows down search for new CEO

  

  Bloomberg The race to succeed UniCredit SpA Chief Executive Officer (CEO) Jean Pierre Mustier is accelerating, with the Italian bank trimming its list of preferred candidates to just three or four after high-profile names such as Tidjane Thiam dropped out of contention. The bank is now seeking to name a successor earlier than its initial target of February 10, according ...

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• 26 January

  RBA on alert for excess borrowing

  Bloomberg Australia’s central bank is worried an extended period of very low interest rates could spur borrowers to take on more debt than they can handle — particularly if lending standards slip and risk appetite increases. Documents under a Freedom of Information request show the Reserve Bank of Australia saw risks in its decisions to cut the key interest rate ...

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• 26 January

  Europe’s central banks ramp up support for greener economy

  

  Bloomberg Europe’s central banks are ramping up their efforts to support green finance as authorities contemplate how to fight climate change while rebuilding their economies after the pandemic. The latest initiative includes a fund launched by the Bank for International Settlements for green-bond investments by central banks. The European Central Bank (ECB) committed to buy into the initiative, and announced ...

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• 26 January

  Tencent shares tumble after approaching $1trn valuation

  

  Bloomberg Tencent Holdings Ltd. slumped after a world-beating surge in the stock pushed its market value to the cusp of $1 trillion for the first time. The Chinese internet behemoth lost 6.3% in Hong Kong on Tuesday, putting its market capitalisation below $890 billion. Traders took profit after Monday’s 11% rally, which was Tencent’s biggest in almost a decade. Adding ...

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• 26 January

  Global stocks trade mixed as dollar, US Treasury yields rise

  

  Bloomberg Global stocks were mixed as M&A deals gave a boost to Europe, while worries about new virus variants and hurdles to the Biden administration’s stimulus proposal fanned a risk-off mood in the US and Asia. S&P 500 equity futures dropped, while Treasury yields climbed as President Joe Biden said he’s open to negotiating his $1.9 trillion Covid-19 relief proposal. ...

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