April, 2019

• 10 April

  EU set to force UK into long Brexit delay in danger for May

  

  Bloomberg Britain’s exit from the European Union looks set to be delayed by as long as a year in a blow for Theresa May that risks a destabilising backlash at home. European Council President Donald Tusk rejected May’s request for a brief postponement to the UK’s membership, saying it would create a “rolling series of short extensions and emergency summits, ...

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• 10 April

  IMF cuts financial life to Maduro

  

  Bloomberg As Nicolas Maduro steps up his search for cash overseas, another door is slamming shut. The International Monetary Fund suspended the Venezuelan leader’s access to almost $400 million of special drawing rights (SDR), citing political chaos since National Assembly President Juan Guaido claimed in January that he was the nation’s rightful leader, said two people familiar with the matter. ...

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• 10 April

  Russia to release jailed US investor before trial

  Bloomberg Russia’s Investigative Committee has requested that Baring Vostok Capital Partners founder Michael Calvey be moved to house arrest after two months in a Moscow jail in a closely watched case that’s shocked investors. Calvey’s next hearing is scheduled for Thursday in Moscow, when the Investigative Committee’s petition will be presented, court spokeswoman Yunona Tsareva said. Three other defendants linked ...

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• 10 April

  Stocks edge higher before Fed minutes; bonds rise

  

  Bloomberg US stocks edged higher, while Treasuries advanced as investors weighed key developments that continue to raise doubts about the strength of the global economy. The S&P 500 clung to a slight gain as an unexpectedly soft inflation reading potentially boosted the Federal Reserve’s new wait-and-see approach to rate hikes. Minutes from the central bank’s last policy meeting when it ...

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• 10 April

  Hurdle high for India markets even if Modi wins polls

  

  Bloomberg The bar is high for Asia’s most-popular destination of 2019 for overseas money even if Prime Minister Narendra Modi wins a second term in elections starting from Thursday. A survey of 21 global funds and strategists show most expect him to return, an outcome that may be baked into asset prices. With valuations already high, the disappointment if he ...

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• 10 April

  Senate banking chairman aligns with Trump on Fed rate cuts

  

  Bloomberg Senate Banking Chairman Mike Crapo said that he thinks the Federal Reserve should cut interest rates to boost growth, aligning him with President Donald Trump and his latest choices for the Fed board, Stephen Moore and Herman Cain. “I personally think that we’re at a point where they could be reduced a little bit now,” the Idaho Republican said. ...

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• 10 April

  UBS investors urged to refuse lender’s compensation report

  

  Bloomberg UBS Group AG investors should reject the firm’s compensation report, shareholder adviser Glass Lewis said, citing high fines in a legal dispute and the generally lackluster performance of the bank’s shares. UBS had proposed a pay package that included 14.1 million francs ($14 million) in compensation for Chief Executive Officer Sergio Ermotti for last year. While that’s down slightly ...

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• 10 April

  Deutsche Bank comes last in JPMorgan’s ranking of investment banks in EU, US

  

  Bloomberg Deutsche Bank AG came last in a ranking of European and US investment banks compiled by JPMorgan Chase & Co. because of ongoing concerns about trading revenue. Analysts led by Kian Abouhossein cut their forecasts for Deutsche Bank “mainly on lower trading revenue” as European lenders are set to report a weaker first quarter than their US counterparts, the ...

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• 10 April

  Scotiabank CEO scorns US funds shorting Canada banks

  

  Bloomberg Shorting Canadian banks has long made for a poor bet by US hedge funds, and this time will be no different, according to Bank of Nova Scotia Chief Executive Officer Brian Porter. “US hedge funds, from time to time, have appeared in this country over the last 10 years with the same hypothesis of shorting Canadian banks, and it ...

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• 10 April

  Singapore bans ex-HSBC, UOB bankers on fraud

  Bloomberg Singapore meted out lengthy bans to convicted former HSBC Holdings Plc and United Overseas Bank Ltd. bankers for fraud and dishonest conduct. Emeline Tang, a former HSBC employee, was banned from providing any capital markets and financial advisory services for 20 years, the Monetary Authority of Singapore said in a statement on Wednesday. Former UOB employee Nguyen Duy Minh ...

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