April, 2019

• 16 April

  Macron presides over unity as nation grieves Notre Dame

  

  Bloomberg French citizens joined global leaders to rally behind Emmanuel Macron in the aftermath of a fire that ravaged the iconic Notre-Dame Cathedral in Paris, giving the French President an opportunity to quell the political volatility that’s embroiled his government. Macron vowed to rebuild the 850-year-old Gothic monument, an issue that’s united the French population across the political spectrum, with ...

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• 16 April

  Russian support for Stalin hits record

  

  Bloomberg Respect among Russians for Joseph Stalin has surged to the highest level of President Vladimir Putin’s era, with 70 percent saying his rule had been good for the country, according to a poll tracking attitudes towards the Soviet dictator. A record 51 percent viewed Stalin positively in March, up from 40 percent a year earlier, the survey by the ...

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• 16 April

  US killing of IS leader to blunt attacks in Puntland

  

  Bloomberg The US’s killing of the deputy leader of an IS faction in Somalia’s Puntland will blunt the group’s ability to carry out further attacks in the semi-autonomous region that sits near a key shipping lane, Puntland’s security minister said. The US confirmed it carried out an airstrike that killed Abdulhakim Dhuqub in the northeastern Somali region. It described Dhuqub ...

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• 16 April

  US stock gains fade on mixed earnings; bonds retreat

  

  Bloomberg US stocks faltered in their pursuit of all-time highs as investors sifted through a group of high-profile earnings for clues on the strength of the American economy. The 10-year Treasury yield reached its highest level since the March Federal Reserve meeting. The S&P 500 failed to hold its six-month high after UnitedHealth Group Inc erased a gain that topped ...

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• 16 April

  Foreign-exchange volatility explosion may be lurking

  

  Bloomberg There is a complacency haunting foreign-exchange markets. Measures of how much traders expect currencies to gyrate over the coming months have plunged amid apparent assurances from central banks that they aren’t going to create major waves with further policy normalisation anytime soon. But some observers, including strategists at Canadian Imperial Bank of Commerce, Morgan Stanley and Scotiabank are raising ...

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• 16 April

  Deutsche Bank could lose $1.7b in revenue if merger happens

  

  Bloomberg Deutsche Bank AG estimates it could lose the equivalent of almost a fifth of Commerzbank AG’s annual revenue should it go ahead with a takeover of the lender, another potential sticking point for a deal that’s run into hurdles of late. Customers seeking to reduce their exposure to the combined lender could pull business worth 1 billion euros to ...

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• 16 April

  Bank of Japan must couple easing with unwinding vision, says former official

  

  Bloomberg The Bank of Japan (BOJ) needs a vision for eventually unwinding its massive asset purchases if it eases policy further, according to a former BOJ official. “It’s becoming important for the BOJ to not simply say it is strengthening stimulus but to plot the course of events, to tell the story of how these steps will lead to normalisation,” ...

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• 16 April

  S Africa central bank shouldn’t aid state companies: Governor

  Bloomberg Government companies in South Africa that have had billions of rand looted through a process known as state capture shouldn’t be bailed out by the central bank even as they pose a significant fiscal risk, Governor Lesetja Kganyago said. “The challenge of dealing with too-big-to-fail SOEs, of combining cash injections with conditionality measures, needs to be dealt with by ...

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• 16 April

  UniCredit ends legal hangover with $1.3bn payout

  

  Bloomberg UniCredit SpA ended one its most significant legal disputes by settling a US probe over sanctions violations, clearing the path for the lender to focus on growing its business after years of cleaning up legacy issues. The bank agreed to pay $1.3 billion to settle US charges for violating sanctions against Iran that have been hanging over UniCredit since ...

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• 16 April

  UBS tops Asia private banking league for sixth straight year

  

  Bloomberg UBS Group AG topped the list of the 20 largest wealth firms in Asia for the sixth consecutive year even as assets under management declined in the region, Asian Private Banker said. While the Zurich-based bank continued to dominate the regional top spot by a wide margin, with assets totaling $357 billion last year, Credit Suisse Group AG slightly ...

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