April, 2019

• 7 April

  China FX reserves continue moderate gains on valuation

  Bloomberg China’s foreign-currency holdings rose for a fifth month as lower government bond yields in developed markets lifted valuations. Reserves increased by $8.58 billion to $3.0988 trillion in March, the People’s Bank of China said on Sunday. The reading compares with $3.09 trillion from the previous month and the median estimate of $3.09 trillion in a Bloomberg survey of economists. ...

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• 7 April

  Go-Jek joins ‘decacorn’ with $10b valuation

  

  Bloomberg Indonesian ride-hailing service Go-Jek’s value was estimated at $10 billion by a US market intelligence company, putting it in the ranks of startups called decacorns. New York-based CB Insights has listed Go-Jek among 19 decacorns around the world, along with the likes of Uber Technologies Inc, according to the Jakarta Post newspaper. That would make Go-Jek Indonesia’s first startup ...

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• 7 April

  BHP all set to cut jobs under streamlining plan

  Bloomberg BHP Group Ltd will cut jobs in a continuing effort to reduce bureaucracy under a previously foreshadowed streamlining strategy, a person familiar with the matter said. It is unclear how many jobs will be lost or when the reductions will begin, the person said, requesting anonymity because the move isn’t public. The changes come less than six weeks after ...

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• 7 April

  It’s all work, all play in Singapore if urban plan gets go ahead

  

  Bloomberg Living where you work and play may not seem like the ideal balance in terms of escaping the grind, but it’s a key plank of Singapore’s vision for its central business district. Like many cities’ financial centres, Singapore’s is bustling by day and close to deserted during a weekend. The government hopes to change that and laid out details ...

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• 7 April

  Only thing going right for tech firms is stock market

  

  Bloomberg Technology stocks have reclaimed record highs, making them one of the first groups to put last year’s carnage behind them. But everywhere else you look in the industry, bad news is overwhelming the good. Profits are shrinking at an alarming pace, valuations are reflating and politicians want to break the companies up. Semiconductor orders have slumped, and spending on ...

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• 7 April

  Outlook for Japan’s yen worsens as traders turn bearish

  

  Bloomberg The omens are looking bad for the yen. Traders have boosted short positions on Japan’s currency for six straight weeks as signs that economic growth is slowing make it more likely the central bank will maintain its record monetary stimulus. At the same time, global risk sentiment is improving as the US and China near a deal to resolve ...

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• 7 April

  Global banks strengthen money laundering controls as fines sting

  

  Bloomberg Stung by a $1.9 billion fine in 2012 for failure to prevent money laundering, HSBC has been trying to get its house in order. It quintupled the number of employees assigned to spot suspicious activity to 5,000, upgraded its technology and, in 2016, hired Jennifer Calvery, the US Treasury Department’s top anti-money-laundering official, to oversee its efforts — the ...

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• 7 April

  RBI likely to slash rates again by June

  

  Bloomberg India’s central bank is on course for its most aggressive monetary policy easing in more than three years, as it seeks to support the world’s fastest-growing major economy in the face of risks both at home and abroad. The Reserve Bank of India (RBI) delivered its second successive interest rate cut and said it stands ready to use all ...

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• 7 April

  BB&T, SunTrust cultures put $10b at risk

  

  Bloomberg Cultural risks are the greatest challenge to a successful merger of BB&T Corp. and SunTrust Banks Inc., according to Wells Fargo & Co. analyst Mike Mayo. “The ability to manage this and other risks can make an estimated $10 billion difference in the new firm’s market value,” Mayo said in a note to investors. The combined company must work ...

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• 7 April

  Switzerland proposes to tighten bank capital laws

  

  Bloomberg Switzerland is proposing bigger capital cushions for the country’s top banks that could force UBS Group AG and Credit Suisse Group AG to set aside an additional 24 billion Swiss francs ($24 billion) in reserves. The Finance Ministry is weighing an amendment to capital adequacy rules to try to ensure that the parent companies of systemically important banks are ...

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