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Bloomberg Tycoon German Larrea’s conglomerate Grupo Mexico SAB is in advanced talks on a potential acquisition of Citigroup Inc’s Mexican retail bank Banamex, people with knowledge of the matter said. The mining magnate is trying to finalise terms of a potential deal with Citigroup, the people said, asking not to be identified because the information is private. No final agreements ...

Bloomberg The US dollar has erased more than half of this year’s gains amid growing expectations the Federal Reserve will temper its aggressive rate hikes, and as optimism grows over China’s reopening plans. The Bloomberg Dollar Spot Index has pared its 2022 advance to about 7%, after gaining as much as 16% earlier, as slower-than-expected gains in consumer prices and ...

  Bloomberg Deutsche Bank AG and Rabobank received formal complaints from the European Union’s antitrust watchdog for their alleged roles in a cartel for euro-denominated bonds, setting them up for potential fines from the regulator. The European Commission said it sent the banks a so-called statement of objections laying out concerns that the banks colluded “to distort competition” in trading ...

  Bloomberg Regulators look set to reserve their harshest interventions for firms caught making misleading statements about climate strategies, according to an assessment by JPMorgan Chase & Co analyst Jean-Xavier Hecker. “Climate change is likely to become the ESG theme where the crackdown on greenwashing will be the hardest, given that it represents a theme where scientific knowledge is widely ...

Bloomberg The mood for risk is seeping into every corner of Chinese markets, with policy moves to ease Covid-19 curbs and revitalise the economy fuelling the biggest selloff in years in high-grade local corporate debt. Yields on most AAA rated domestic corporate bonds jumped at least 10 basis points on Tuesday, according to traders. They hit a 13-month high of ...

  Bloomberg Gold falls the most since October as Treasury yields and the dollar rise, with traders assessing fresh US economic data for cues on the Federal Reserve’s rate policy along with China’s relaxation of its Covid-Zero policies. Stronger-than-expected US services data from November boosted chances that the Fed will keep interest rates higher for longer, which hurts bullion since ...

  Bloomberg The world’s worst-performing major currency looks poised for an impressive turnaround in 2023 as its two key drivers — a hawkish Federal Reserve and a dovish Bank of Japan — swap places in the eyes of some investors. The yen — a favoured short against the dollar for a majority of this year — could rally more than ...

Bahrain / Gulf Time Investcorp, a leading global alternative investment firm, on Monday announced it has agreed to acquire Marble Point Credit Management LLC (Marble Point), a leading US-based collateralised loan obligation (CLO) manager. “The proposed acquisition of Marble Point is a significant milestone in Investcorp’s 40-year journey of growth through diversification, geographic expansion and building scale. With $50 billion ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to King Maha Vajiralongkorn of Thailand, on the occasion of his country’s National Day. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, sent similar messages to the Thai King ...

  Abu Dhabi / WAM Mubadala Investment Company PJSC (Mubadala), the Abu Dhabi sovereign investor, on Monday announced the transition of Musabbeh Al Kaabi from his current role as Chief Executive Officer of the UAE Investments platform to Executive Director of a new Low Carbon Solutions & International Growth vertical at Abu Dhabi National Oil Company (Adnoc) as of January ...