October, 2020

• 27 October

  Bangkok weighs creating committee to end protests

  

  Bloomberg Thai lawmakers are weighing a proposal to set up a committee to explore ways to end the monthslong anti-government protests sweeping the Southeast Asian nation. A working group is looking at a panel proposed by Deputy Premier Jurin Laksanawisit, House Speaker Chuan Leekpai said on Tuesday. Parliament is set to wrap up a special two-day session convened to discuss ...

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• 27 October

  Johnson faces lockdown revolt from UK Tories

  

  Bloomberg More than 50 of Boris Johnson’s own Conservative members of Parliament have demanded a clear route out of lockdown for parts of northern Britain that helped give his party a majority in last year’s election. In a letter to the prime minister, the MPs warned that his pandemic strategy of targeting local areas with restrictions is disproportionately damaging the ...

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• 27 October

  Santander rebounds from big loss with profit, capital lift in Q3

  

  Bloomberg Banco Santander SA rebounded from its worst-ever quarter with a profit that beat estimates and improved capital as it seeks to convince regulators that its balance sheet is strong enough to resume dividend payments. Net income totalled 1.75 billion euros ($2.1 billion) in the third quarter, beating estimates of about 1 billion euros, the bank said on Tuesday. The ...

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• 27 October

  UBS to invest $200m in fintech startups

  

  Bloomberg UBS Group AG plans to invest $200 million of its own money in fintech companies over the medium term in a push to further digitize its services and find new ways to engage with clients. The portfolio, called UBS Next, will be run by a dedicated team and take mostly direct stakes in early-stage fintech and other relevant technology ...

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• 27 October

  HSBC beats estimates as loan loss expectations pared back

  

  Bloomberg HSBC Holdings Plc beat profit estimates for the third quarter, delivering an upside surprise as it pared back expected credit losses and signaled it may resume limited dividend payments already for this year. Adjusted pretax profit slid 21% to $4.3 billion in the period, beating the $2.8 billion estimate, the London-based bank said in a statement on Tuesday. HSBC ...

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• 27 October

  ‘Australia’s deferred loans among riskiest’

  

  Bloomberg Australia’s remaining deferred mortgages tend to have higher loan-to-valuation ratios or are held by people in industries struggling from the pandemic, a Reserve Bank official said. “Non-performing loans to households, which had already risen over past couple of years, are therefore expected to continue to rise over the coming months,” RBA Assistant Governor Michele Bullock, who oversees financial stability, ...

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• 27 October

  BOC plans to boost debt team on offshore deal surge

  

  Bloomberg Bank of China Ltd. (BOC) plans to expand its headcount in offshore bond business by 40% as it fights with global banks for a greater slice of a market that’s seen a surge in Chinese borrowers. The lender is seeking to add 20 more staff to its offshore bond team over the next five years, Hu Kun, its general ...

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• 27 October

  Access Bank to help protest-hit firms with $130mn aid

  Bloomberg Access Bank Plc, Nigeria’s biggest lender, started a 50 billion naira ($130 million) fund to help companies recover from violent protests that shuttered businesses across Africa’s largest crude producer. The fund, the first of its kind following the demonstrations, will provide interest-free loans with a two-year tenure, Deputy Managing Director Roosevelt Ogbonna said by phone from Lagos, the nation’s ...

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• 27 October

  US stocks fluctuate after earnings; dollar declines

  

  Bloomberg US equities were mixed as investors weighed corporate earnings and news of Advanced Micro Devices Inc.’s $35 billion takeover of another chipmaker with concerns about growing virus infections. The dollar slipped. Technology shares were among the best performers after AMD said it would buy Xilinx Inc. Energy shares and financial companies dragged on the major indexes. The S&P 500 ...

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• 27 October

  Ghana misses out on African bond rally on election concerns

  

  Bloomberg Ghana is missing out on a rally of African bonds as investors fret about an expansion in spending and borrowing ahead of elections in December. The elevated borrowing to cover the spending shortfall has seen the country’s three-year and longer-dated local bond yields rise on the secondary market even as those of its peers on the continent are falling. ...

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