April, 2019

• 17 April

  Why is Zuckerberg relaxed about UK speech rules?

  

  Britain’s plans to regulate online content have triggered an unsurprising furore about censorship. But that’s largely fine with the technology giants – because it distracts attention from a bigger problem that goes to the heart of their business model. The white paper on online harms is an effort to curb the online spread of dangerous content, such as incitement to ...

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• 17 April

  Earnings whipsaw US stocks; Treasuries rise

  

  Bloomberg The latest batch of corporate earnings whipsawed US stocks as investors sought clues on the strength of the economy after a likely slowdown in the first quarter. The 10-year Treasury yield pushed above 2.6 percent. The S&P 500 Index erased early gains, with healthcare shares again under pressure as concerns mount over potential policy changes. Netflix Inc advanced even ...

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• 17 April

  Malaysian ringgit reels after index, fund

  

  Bloomberg It was a one-two punch that’s turned the Malaysian ringgit into Asia’s worst performer this month. FTSE Russell said it may drop Malaysian debt from the FTSE World Government Bond Index because of concern about market liquidity, roiling the nation’s currency and bonds. And less than two weeks ago, Norway said its sovereign wealth fund will cut emerging-market debt ...

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• 17 April

  Powell adopts whites-of-the-eyes inflation stance Yellen shunned

  

  Bloomberg Federal Reserve Chairman Jerome Powell and his colleagues have made an important shift in their strategy for dealing with inflation in a prelude to what could be a more radical change next year. The central bank has backed off the interest-rate hikes it had been delivering to avoid a potentially dangerous rise in inflation that economic theory says could ...

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• 17 April

  Big US banks lean on main street for profit

  

  Bloomberg The biggest US banks have leaned on retail banking businesses to offset a prolonged slump in trading and drive record profits. Now comes the question of whether they can keep it up. The lenders, led by JPMorgan Chase & Co. and Bank of America Corp., are delivering on the promise that the stockpiles of deposits they spent years attracting ...

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• 17 April

  Citi, Goldman assure revamping units that dragged down results

  

  Bloomberg Citigroup Inc. and Goldman Sachs Group Inc. both delivered better-than-expected earnings. Instead of celebrating, executives were assuring investors they’ll make more progress on revamping units that are dragging down results. Growth stalled at Citigroup’s consumer unit, so executives pointed to green shoots in a digital bank effort. Goldman Sachs had the biggest first-quarter trading decline among banks that have ...

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• 17 April

  China’s PBOC trims liquidity supply in a sign of dialing back stimulus

  

  Bloomberg China’s central bank cut some of the long-term funding it supplies banks in a sign it may be dialing back its monetary stimulus as the economy strengthens. The People’s Bank of China (PBOC) rolled over about half of the funds coming due via 1-year medium-term lending, and also offered to lend 160 billion yuan ($24 billion) for 7 days ...

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• 17 April

  Singapore’s OCBC seeks partner for China securities joint venture

  

  Bloomberg Oversea-Chinese Banking Corp. (OCBC) is looking for a Chinese firm to team up with on a securities joint venture on the mainland, the latest foreign bank seeking to capitalsise on the nation’s financial-industry loosening. Obtaining a Chinese securities license would allow OCBC to do asset management, investment banking and fund management business in the nation, Chief Executive Officer Samuel Tsien ...

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• 17 April

  Commerzbank draws takeover interest from ING

  Bloomberg Commerzbank AG has been sounded out by ING Groep NV about a possible combination of the two lenders, according to a person familiar with the matter, as the German firm’s talks with domestic rival Deutsche Bank AG draw increasing criticism. Commerzbank shares extended gains after Manager Magazin first reported the talks, citing people it didn’t identify. ING Chief Executive ...

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• 17 April

  Brexit delay gives a small window for Czech rate hike

  Bloomberg The delay to Brexit has potentially given the Czech central bank a small window to raise borrowing costs this year as it tries to put a lid on price growth before the economy slows, board member Tomas Holub said. After leading Europe with five interest-rate hikes last year, policy makers in Prague will most likely deliver only one in ...

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