September, 2017

• 27 September

  Stocks, dollar rise on Fed, US tax plans; bonds fall

  

  Bloomberg US stocks advanced as President Donald Trump prepares to lay out his tax-cut plan, while the dollar extended gains and bonds fell after Federal Reserve Chair Janet Yellen boosted expectations for an interest-rate rise in December. The S&P 500 Index was near record levels in early trading. The Bloomberg dollar index headed for a six-week peak and Treasury yields ...

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• 27 September

  Car rental firms surge on Saudi bourse on women driving news

  

  Reuters Shares of car insurance and rental companies rallied on the Saudi Arabian stock market on Wednesday after news that women would be allowed to drive, although the broader market was flat. Qatar’s stock market fell sharply, ending a six-day winning streak. Saudi King Salman issued a royal decree lifting the driving ban; it will be implemented by June 24, ...

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• 27 September

  JPMorgan loses ‘probate case’ ordered to pay $4bn in damage

  

  Bloomberg JPMorgan Chase & Co. was ordered by a Dallas jury to pay more than $4 billion in damages for mishandling the estate of a former American Airlines executive, but the verdict will probably be knocked down on appeal. Jo Hopper and two stepchildren won the probate court verdict over claims that JPMorgan mismanaged the administration of the estate of ...

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• 27 September

  ECB’s €133 billion bond buying sweeps up US, UK, Swiss companies

  Bloomberg The European Central Bank’s (ECB) 113 billion euro corporate bond portfolio, accumulated as it propped up the euro zone economy with monthly asset purchases, has swept up debt from companies based outside the currency area. Bonds issued by non euro area firms account for 71 — or 7 percent — of the 1,009 securities bought by the ECB since ...

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• 27 September

  Bank of Thailand keeps interest rate at record low

  Bloomberg Thailand’s central bank held its benchmark interest rate near a record low, spurning the government’s call for policy easing as it painted a brighter outlook for the economy. Thailand’s Finance Ministry has been stepping up pressure on the central bank to cut interest rates as the currency surges and as inflation remains subdued. Economic growth is lagging peers in ...

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• 27 September

  Barclays investment bank boss vows to restore ‘commercial zeal’

  

  Bloomberg Barclays Plc’s investment-banking boss, Tim Throsby, says he plans to reignite “commercial zeal” within the firm’s worst-performing unit, ending five years of risk-averse retrenchment that’s left traders trailing U.S. rivals. When he arrived at Barclays from JPMorgan Chase & Co. in January, Throsby found it was “very clear” staff had lost “a suitable focus on opportunities to deploy risk,” ...

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• 27 September

  SBM eyes Kenyan banks, plans Nigerian expansion

  Bloomberg SBM Holdings Ltd., Mauritius’s second-largest lender, plans more acquisitions in Kenya as it seeks to become one of the country’s top 10 banks within the next three years before expanding into West Africa. The bank, which obtained a license to begin operating SBM Kenya Ltd. in May, expects to have its systems and staff in place by December, Advisor ...

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• 27 September

  Banca Generali, Saxo Bank to offer online trading

  Emirates Business Banca Generali and Saxo Bank announce they have reached an agreement to establish an exclusive partnership to offer online trading and digital services. The objective is to offer clients, on an exclusive basis for the Italian market, access to an innovative platform for advanced trading, based on Saxo Bank’s technology and managed by a newly established SIM owned ...

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• 27 September

  As synthetic CDOs roar back, this Citi trader makes her name

  

  Bloomberg Jia Chen was in London again this summer—just one of the many trips she’s recently made across the Atlantic—to peddle a product left for dead in the ruins of the financial crisis. The 35-year-old Citigroup Inc. director has spent the past two years meeting clients, speaking at industry panels and becoming the face of a resurgent market for synthetic ...

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• 27 September

  Bombardier jets hit with 220 percent US duty

  

  Bloomberg ­­­­­­­­­­­­­­­ Bombardier Inc.’s all-new jetliner, which cost at least $6 billion to develop, just got harder to sell in the world’s largest aviation market. The US Commerce Department slapped import duties of 220 percent on the C Series plane, citing improper subsidies after a complaint by Boeing Co. The preliminary determination threatens to upend Bombardier’s planned deliveries next year ...

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