November, 2018

• 12 November

  India is moving fast, breaking wrong things

  

  Reserve Bank of India’s reputation for honesty is a major asset in a country rife with corruption. India’s government and the central bank have had disagreements, but the relationship has never looked so irretrievably broken as it does now. Before the global financial crisis, the finance ministry saw the Reserve Bank of India (RBI) as an incompetent regulator, one that ...

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• 12 November

  Alibaba is hurt by a war at home, not a trade war

  

  A Donald Trump-inspired trade war between the US and China isn’t the reason for Alibaba Group Holding Ltd. trimming its optimism. China’s e-commerce giant now sees full-year revenue of 375 billion yuan ($55 billion) to 383 billion yuan, the company announced. That’s 4 percent to 6 percent lower than it had expected previously. But the weakness comes from a competitive ...

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• 12 November

  Scientists should stop researching same old stuff

  

  In a recent Forbes article, astronomer and writer Ethan Siegel called for a big new particle collider. His reasoning was unusual. Typically, particle colliders are created to test theories — physicists’ math shows that undiscovered particles ought to exist, and experimentalists use colliders to see whether they really do. This was the case with the Large Hadron Collider, which was ...

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• 12 November

  Danske laundromat probe may expand to target Sampo deal

  

  Bloomberg Danish lawmakers want to find out whether the Estonian unit at the center of a massive money laundering scandal was used for illicit trades before it was bought by Danske Bank A/S more than a decade ago. Danske took over the banking assets of Sampo Oyj in 2007. That purchase, which included a tiny Estonian unit, left Denmark’s biggest ...

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• 12 November

  ECB’s Guindos calls for tighter oversight of asset managers

  

  Bloomberg The European Central Bank’s vice president warned asset managers that they’ll face tighter scrutiny as regulators try to steer against future financial crises. The ECB has grown increasingly vocal about the risks stemming from a rapid expansion of entities such as investment funds, which are taking on more bank-like tasks such as providing liquidity but which are regulated more ...

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• 12 November

  China banks grapple with lending rules for private firms

  

  Bloomberg Some Chinese banks are struggling to comply with unprecedented regulatory targets for credit to private companies because they aren’t sure who to lend to, a sign that authorities’ urgency to reverse an economic slowdown is muddying policy. The confusion stems from China Banking and Insurance Regulatory Commission chief Guo Shuqing’s statement that at least a third of new loans ...

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• 12 November

  Nomura’s Ashley laments Brexit danger

  

  Bloomberg Steve Ashley, charged with turning around a slump at Nomura Holdings Inc.’s investment bank, faces one of his biggest challenges thousands of miles away from Japan. Britain’s exit from the European Union threatens to create “two centers” for financial products on the continent, Ashley, head of wholesale and global markets at Nomura, said on Monday in an interview with ...

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• 12 November

  Wells Fargo fires two amid tax-credit probe

  

  Bloomberg Wells Fargo & Co has fired two community-lending and investment employees in connection with a US probe into the bank’s negotiation and procurement of low-income housing tax credits, according to people familiar with the matter. Rick Davis, a senior vice president, and Bob Klixbull, a vice president, were fired after being suspended earlier this year, the people said. The ...

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• 12 November

  Jet Airways’ liabilities surge after third consecutive loss

  

  Bloomberg Jet Airways India Ltd. saw both current- and non-current liabilities surge in the second quarter, after intense competition and low fares led to its third consecutive quarterly loss. Current liabilities rose to 160 billion rupees ($2.2 billion) as of September 30, compared with 142 billion rupees as of March 31, while non-current liabilities jumped 30 percent during the same ...

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• 12 November

  South African mulls share sale for cash

  

  Bloomberg South African Airways could sell shares to public as the state-owned carrier seeks ways to end years of losses and reduce the need for bailouts, according to people familiar with the matter. The move would enable the government to cut its stake in much the same way as it did with former phone monopoly Telkom SA SOC Ltd. almost ...

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