September, 2019

• 24 September

  Ghana security forces foil plot targeting presidency

  Bloomberg Ghana’s security forces arrested three people and seized arms in connection with activities surveyed over the last 15 months, which were targeted at the presidency. “The joint operation was to neutralise an elaborate plot targeted at the presidency, and with the ultimate aim of destabilising the country,” the Ministry of Information said in an emailed statement. Between June and ...

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• 24 September

  Trump stuck between Khan, Modi on Kashmir crackdown

  

  Bloomberg If Prime Minister Narendra Modi was worried about a frosty reception in the US after his crackdown on India’s Muslim-majority region of Kashmir, President Donald Trump was quick to put those fears to rest. “Border security is vital to India,” Trump said alongside Modi, as the two spoke at a huge gathering of around 50,000 Indian-Americans. “We understand that.” ...

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• 24 September

  UK court: Parliament suspension ‘unlawful’

  

  Bloomberg The UK’s top judges inflicted an unprecedented legal defeat on Prime Minister Boris Johnson, branding his controversial decision to suspend parliament unlawful and calling on lawmakers to return to parliament as soon as possible. The unanimous landmark decision by the 11 judges on Tuesday is a boost for MPs seeking to prevent Johnson pulling the country out of the ...

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• 24 September

  Pompeo sowing discord with Xinjiang’s remarks

  

  Bloomberg China said US Secretary of State Michael Pompeo was attempting to “sow discord” with recent comments about its policy toward Muslim Uighurs in its far west region of Xinjiang, treatment that has been widely criticised by foreign governments and rights groups. Pompeo said Beijing’s campaign against the Uighurs was an “attempt to erase its own citizens” and urged countries ...

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• 24 September

  China must avoid massive stimulus, control debt: Yi

  

  Bloomberg China isn’t in a rush to add massive monetary stimulus, in contrast with other central banks around the world, and must maintain a prudent policy stance, central bank Governor Yi Gang said. Overall financial risks are contained and those in the shadow banking sector and some key institutions have been resolved, said Yi, speaking at a joint briefing in ...

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• 24 September

  Bank job cuts approach 60,000 across Europe

  

  Bloomberg Job cuts announced by banks this year are approaching 60,000, almost all of them in Europe, where negative interest rates and a slowing economy prompt lenders including Germany’s Commerzbank AG to step up cost reductions. Commerzbank said it plans to eliminate 4,300 positions, deepening a restructuring that started three years ago. That brings the total disclosed this year to ...

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• 24 September

  Goldman Sachs reshuffle continues with ‘new roles’

  

  Bloomberg Goldman Sachs Group Inc’s most senior female banker is getting a promotion as Chief Executive Officer David Solomon continues reshaping leadership teams across the firm ahead of his first anniversary in the top job. Alison Mass, who has been responsible for cultivating the bank’s relationships with top buyout shops and multinational firms, was named chairman of the investment-banking division, ...

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• 24 September

  EU court scraps $37mn HSBC fine

  

  Bloomberg HSBC Holdings Plc won its court fight against a 33.6 million-euro ($37 million) European Union antitrust fine for conspiring with other banks to rig the Euribor benchmark, raising questions about whether the fines slapped on other institutions will hold on appeal. While the judges at the EU’s General Court agreed that HSBC infringed competition, they annulled the fine for ...

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• 24 September

  Repo turmoil raises question on reserves: Fed

  Bloomberg Last week’s turmoil in money markets raises questions about the appropriate level of bank reserves in the financial system, Federal Reserve Bank of New York President John Williams said. It is “important that we examine these recent market dynamics and their implications for the liquidity needs in relation to the overall amount of reserves held at the Federal Reserve,” ...

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• 24 September

  Australia central bank chief sees economy picking up

  

  Bloomberg Australia’s central bank chief Philip Lowe reiterated that his economy is at a “gentle turning point” and gave little indication that an interest-rate cut was in the immediate offing, potentially disappointing economists expecting one within days. “At our board meeting next week, we will again take stock of the evidence,” the Reserve Bank governor said in the text of ...

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