July, 2020

• 22 July

  Tokyo urges stay-home weekend as cases rise

  

  Bloomberg Tokyo Governor Yuriko Koike told residents to avoid unnecessary trips outdoors as much as possible during a forthcoming four-day weekend as the city’s running total topped 10,000 and new cases nationwide were reported to hit a new daily record. Japan’s capital had another 238 cases on Wednesday, as the country heads into a long weekend that was originally scheduled ...

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• 22 July

  US says China hackers stole secrets, sought virus data

  

  Bloomberg The US accused two Chinese hackers of working for Beijing to steal or try to steal terabytes of data, including coronavirus research, from Western companies in 11 nations — the second time in a week a foreign nation has been singled out for vaccine-related hacking. The Justice Department released an indictment against the individuals, whom it identified as Li ...

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• 22 July

  Deutsche Bank signals better results for 2nd straight quarter

  

  Bloomberg Deutsche Bank AG signalled better-than-expected results ahead of earnings for the second straight quarter, adding to signs of progress in Chief Executive Officer Christian Sewing’s historic turnaround plan. The bank’s common equity Tier 1 ratio, a key metric of financial strength, also unexpectedly increased, rising to about 13.3% at the end of June from 12.8% three months earlier, according ...

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• 22 July

  Credit Suisse set to score a smaller role on Ant’s mega IPO

  

  Bloomberg In the initial list of four sponsors for Ant Group’s mega initial public offering in Hong Kong, one bank’s name was conspicuously missing: Alibaba’s go-to bank Credit Suisse. Credit Suisse Group AG has been fighting for a major role in the offering and Ant is leaning towards naming them as a joint global coordinator for its Hong Kong listing, ...

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• 22 July

  Japanese bank installs robots to scan ‘hanko’ documents

  

  Bloomberg Japan’s largest bank is installing giant robot scanners to digitize millions of documents, as it seeks to break from the long tradition of using paper records to verify its customers’ identities. Mitsubishi UFJ Financial Group Inc. will use the machines of Ripcord Inc. to scan 300 million pages of files that record clients’ personal seals known as hanko, the ...

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• 22 July

  Wells Fargo hires Mike Santomassimo as CFO

  

  Bloomberg Wells Fargo & Co. veterans may have to get used to hearing “Well, at JPMorgan.” The San Francisco-based lender hired Mike Santomassimo as its next chief financial officer, marking the latest in a wave of JPMorgan Chase & Co. veterans that Chief Executive Officer Charlie Scharf has enlisted atop Wells Fargo. Scharf, a one-time Jamie Dimon protege who spent ...

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• 22 July

  UBS group signals potential return to share buybacks

  

  Bloomberg UBS Group AG signalled the worst hit of the coronavirus crisis on its balance sheet may be over, prompting the bank to consider reviving shareholder payouts as it seeks to boost the shares. The Swiss bank — while warning of uncertainty ahead — attracted $9 billion of net new money at the private banking business in the second quarter ...

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• 22 July

  Danske Bank to axe over 1,000 jobs

  Bloomberg Danske Bank A/S may need to cut at least 1,000 jobs if it’s to meet its latest cost goals, according to analysts monitoring the lender. Danske’s chief executive, Chris Vogelzang, told Bloomberg that he’s planning “significant” staff cuts in an effort to bring expenditure under control. Given the lender’s stated cost targets, that entails a “low four-digit number,” according ...

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• 22 July

  European stocks, futures fall on rising US-China tensions

  

  Bloomberg Futures on the S&P 500 Index dropped with European stocks after China said the US ordered the closure of its consulate in Houston, further stoking tensions between the two countries. Treasuries edged higher and the dollar erased a loss. The yuan weakened after a Chinese Foreign Ministry spokesman said the move was unilaterally initiated by the US and China ...

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• 22 July

  India stocks volatile as investors consider profits, valuations

  

  Bloomberg Indian stocks swung between gains and losses in early trade as investors weighed valuations and quality of quarterly earnings. The S&P BSE Sensex fell 0.1% to 37,882.06 as of 10:10 am in Mumbai after gaining as much as 0.7%. The NSE Nifty 50 Index also slipped 0.1%, erasing an initial advance. Both measures capped five-straight days of gains, breaching ...

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