September, 2019

• 22 September

  ‘No intention’ to meet Rouhani at UN: Trump 

  

  Bloomberg President Donald Trump said he doesn’t plan to meet Iranian President Hassan Rouhani during the United Nations General Assembly meeting this week, while leaving open the possibility that he might. “Nothing is ever off the table completely, but I have no intention of meeting with Iran,” the US president told reporters at the White House. “That doesn’t mean it ...

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• 22 September

  Professor upsets Tunisian politics with help of angry youth

  

  Bloomberg It took an austere law professor to channel the burning injustices of a generation disillusioned by the failures of the Arab Spring into an insurgent campaign that dealt a stinging rebuke to Tunisia’s political establishment. After a buildup that scarcely registered with the media, at the ballot box 61-year-old Kais Saied saw off nearly two dozen rivals seeking to ...

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• 22 September

  Best-performing currency of Asia may be primed for gains

  

  Bloomberg The Thai baht has been the runaway success among Asian currencies this year — surging more than 6 percent while the US-China trade war has punished peers such as the South Korean won and Chinese yuan. There are two reasons why it may rise even more. The Thai currency has proven to be the preferred Asian hedge against global ...

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• 22 September

  Canadian bank stocks set for a $23b comeback

  

  Bloomberg Canadian bank shares are returning with a vengeance, after lagging Canada’s broader stock market for much of the year. Toronto-Dominion Bank shares are on pace to climb for 13 straight days, the longest winning streak since at least 1983. Canadian Imperial Bank of Commerce has been rising for 12 days, its longest run since May 2018. And shares in ...

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• 22 September

  Stage set for Swiss franc as SNB keeps rate steady

  

  Bloomberg Currency traders may have a green light to push the franc higher after the Swiss National Bank (SNB) refrained from joining global central banks in easing policy. The franc has led gains among major currencies since Swiss policy makers projected lower inflation and growth yet did not follow the European Central Bank (ECB) and Federal Reserve in cutting interest ...

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• 22 September

  HKEX ropes in UBS, other banks to court LSE investors

  

  Bloomberg Hong Kong Exchanges & Clearing Ltd has started working with UBS Group AG as it begins its charm offensive to convince London Stock Exchange Group Plc investors on the merits of its takeover bid, people familiar with the matter said. The Swiss bank has been brought in as an adviser and is helping HKEX arrange meetings with LSE shareholders, ...

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• 22 September

  Yearlong cash woes caused default, says Altico Capital

  

  Bloomberg Beleaguered Altico Capital India Ltd said a prolonged cash squeeze for India’s shadow lenders and property developers after the collapse of IL&FS Group last year led to its default. Substantial strain in the short-term financing markets following a default by IL&FS caused a knock-on impact on other non-banking finance companies and the real-estate sector, Altico Capital said in a ...

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• 22 September

  China needs flexi yuan, fewer capital controls: Think tank

  

  Bloomberg China needs a more flexible and convertible yuan to improve investors’ confidence in the currency, a financial think tank said. The country should simplify management on the yuan exchange rate and loosen capital controls in an orderly way as part of the efforts to improve the currency’s global use, according to a report published by the China Finance 40 ...

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• 22 September

  China to work with Asia to secure trade rules

  Bloomberg China will work with other Asian countries to safeguard international trade rules, as well as the monetary and financial order, according to its former central bank Governor Zhou Xiaochuan. The country is determined to uphold multilateralism, and is accelerating the pace of its opening-up to integrate more completely into the global economy, Zhou said at the Singapore Summit conference. ...

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• 22 September

  Banks change rules of negative rate game for Danes

  

  Bloomberg Denmark is about to become a test case for what happens when banks start charging a lot of customers to store their money. That’s because one of the country’s biggest banking groups just changed the rules of the game, by removing the floodgate that had shielded most retail depositors. Until recently, only people with roughly $1 million in surplus ...

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