November, 2019

• 6 November

  Johnson fights back after Tory blunders

  

  Bloomberg Boris Johnson tried to get his campaign on track after a stumble with one of his best-known ministers in trouble for comments about people killed in a tower-block fire. Johnson launched the Conservative Party election campaign with a rally in the West Midlands on Wednesday. Before that, the prime minister travelled to see Queen Elizabeth II before returning to ...

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• 6 November

  Most Russians want ‘decisive’ change in country: Study

  

  Bloomberg Nearly six in ten Russians want “decisive and full-scale changes” in the country amid growing discontent with the authorities over living standards, according to new research. The proportion wanting change reached 59% this year, up from 42% in 2017, the study by the Carnegie Moscow Center and the Levada Center polling organisation showed. After five years of stagnating incomes ...

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• 6 November

  Germany seeks to break EU bank union deadlock

  

  Bloomberg Germany’s finance ministry sought to break the deadlock in discussions over European banking integration by signaling it may drop its opposition to a key part of the plan. Berlin is ready to consider a form of joint European deposit insurance, something that would stabilise the financial system by reducing the risk of bank runs, according to a finance ministry ...

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• 6 November

  Thailand cuts rate to rein in surging baht

  

  Bloomberg The Bank of Thailand cut its benchmark interest rate for the second time in three months and said it will ease rules on outflows to curb a surging currency. Five of the seven Monetary Policy Committee members voted to cut the key rate by a quarter-percentage point to 1.25%, the central bank said in a statement. That matches a ...

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• 6 November

  Silicon Valley Bank lends to Danish tech firms

  

  Bloomberg A California bank with deep ties to the US venture capital industry is targeting Denmark for growth, as a lack of regulatory constraints on lending make the country a preferred destination in Scandinavia. Silicon Valley Bank, a unit of SVB Financial Group, says it’s budgeted a minimum of about $200 million to lend to Danish technology companies. Erin Platts, ...

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• 6 November

  Postal Savings Bank to raise $4.1 billion in China IPO

  

  Bloomberg Postal Savings Bank of China Co is poised for the country’s biggest initial public offering since 2015. The Beijing-based lender, which is already listed in Hong Kong, plans to raise 28.4 billion yuan ($4.1 billion) in what would be the world’s third-largest listing this year behind Uber Technologies Inc’s $8.1 billion share sale in May. One of China’s largest ...

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• 6 November

  Romania extends rate pause after inflation

  Bloomberg Romania extended a record pause in borrowing costs to almost a year and a half after an unexpectedly sharp slowdown in inflation and as central banks around the world loosen monetary policy. The benchmark rate was left at 2.5% for a 12th straight meeting, as predicted by all economists surveyed by Bloomberg. It’s the first decision by the new ...

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• 6 November

  Deutsche Bank: Negative rates worsen EU lenders’ retreat

  

  Bloomberg Europe’s finance industry has seen its global sway erode dramatically and the main weapon being used to boost the continent’s economies is making things worse, a top Deutsche Bank AG executive warned. The region’s banks and insurers “have lost dramatic amounts of ground,” with only one still ranking in the top 20 globally by market value, compared with six ...

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• 6 November

  India’s Infosys getting large deals amid whistle-blower ‘distraction’

  

  Bloomberg Infosys Ltd, the Indian software maker that’s battling whistle-blower allegations about its finances, sought to assure investors that the accusations have had little impact on the company’s ability to win contracts. Anonymous whistle-blowers last month alleged that Chief Executive Officer Salil Parekh used “unethical practices” to boost revenue and profit in recent quarters. The whistle-blowers also said recent big ...

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• 6 November

  China Feihe raises $856 million in Hong Kong IPO

  Bloomberg China Feihe Ltd, a baby formula producer, raised HK$6.7 billion ($856 million) after pricing its Hong Kong initial public offering at the bottom of its marketed range, people familiar with the matter said. The Beijing-based company sold 893.3 million shares at HK$7.50 each, the people said, asking not to be identified as the information is private. Shares had been ...

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