November, 2018

• 10 November

  Over 40% top banks fail to satisfy Fed in risk management

  

  Bloomberg More than 40 percent of major US lenders are failing to satisfy the Federal Reserve’s expectations in key areas of risk management, the central bank said in a report that reveals the regulator’s overall assessment of the industry. The Fed’s inaugural Supervision and Regulation Report highlights a number of positives — including high capital and liquidity reserves — but ...

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• 10 November

  JPMorgan to lead $283 billion Brexit shift to Frankfurt

  

  Bloomberg The major US investment banks are planning to shift assets to Frankfurt because of Brexit, a move that would see their balance sheets in Germany grow to about 250 billion euros ($283 billion), several people briefed on the matter said. Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Citigroup Inc. have presented plans to increase the ...

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• 10 November

  UBS confronts lawsuits, potential fines

  

  Bloomberg UBS Group AG’s two biggest legal cases in years are entering the final stretch in a test of Chief Executive Officer Sergio Ermotti’s strategy of taking on French and US authorities. The Swiss bank was hit with a long-expected US fraud lawsuit that accused it of fuelling the 2008 financial crisis by deceiving investors who bought billions of dollars ...

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• 10 November

  PBOC ready to tackle economic changes

  

  Bloomberg China’s central bank (PBOC) said the global outlook is worsening and that it’ll tweak its policy in a sign that trade tensions with the US are hurting the world’s second-largest economy. “External conditions are undergoing profound changes, downward pressures are increasing, some companies are seeing more difficulties in their operations, risks accumulated over the long term are being exposed,” ...

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• 10 November

  Russian oil may gain a lot by giving a little on Opec U-turn

  

  Bloomberg Russia’s oil industry is feeling the pressure of a possible return of production caps. In fact, by sacrificing a fraction of output, the companies could see their stocks rise. Fresh output curbs may push crude prices up, benefiting Russian producers just as they did during the cuts that began last year. The Moscow Oil & Gas Index has gained ...

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• 10 November

  Wartsila set to build Kenyan solar plants

  

  Bloomberg Wartsila Oyj’s East African unit won two engineering, procurement and construction contracts to develop grid-connected solar firms in Kenya, each with a capacity of 40 megawatts. Construction is expected to begin next year, according to George Oywer, a business development ma-nager at Wartsila Eas- tern Africa Ltd. The East African nation, which has an electricity supply deficit, is boosting ...

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• 10 November

  BlackRock, CleanCapital buy US solar portfolio

  Bloomberg BlackRock Inc and CleanCapital LLC bought a 46.9-megawatt portfolio of US solar power from a unit of ATN International Inc. The 60 projects are in California, Massachusetts and New Jersey, CleanCapital said in a statement. ATN’s Chief Financial Officer Justin Benincasa said in an email that the purchase price was $64.3 million. Including assumed debt of $55.5 million and ...

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• 10 November

  Alibaba goes global to hit Singles’ Day record

  

  Bloomberg Alibaba Group Holding Ltd. is looking beyond borders to turn its annual Singles’ Day shopping celebration into a global phenomenon. This Sunday, the Chinese internet giant is including sales from Lazada, the online shopping mall it controls. Southeast Asia’ biggest web retailer is becoming a key part of Alibaba’s plan to fuel growth, on top of the company’s efforts ...

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• 10 November

  ‘Bharti Airtel’s ratings may be downgraded to junk’

  

  Bloomberg Bharti Airtel Ltd.’s rating has been placed on review for downgrade by Moody’s Investors Service on concern the cash flow generation at India’s second-biggest mobile phone carrier will remain weak. The Baa3 issuer and senior unsecured rating of the company has been placed on review for a cut, Moody’s said in a statement. The review also reflects Bharti Airtel’s ...

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• 10 November

  Streamcast weighs London IPO

  Bloomberg Streamcast Group, a firm whose technology enables streaming services and boosts networks in emerging markets, is considering an initial public offering as soon as next year, people familiar with the matter said. The company is aiming to list in London, though it’s also considered other venues, the people said, asking not to be identified because the deliberations are private. ...

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