By Yoruk Bahceli (Reuters) -The European Central Bank said on Thursday it would start reducing its 5 trillion euros’ ($5.3 trillion) worth of bond holdings from March, in its next step towards tighter policy as it battles decades-high inflation. It also raised its main interest rates by another 50 basis points each. The central bank …
By Valentina Za MILAN (Reuters) – The European Central Bank has slightly increased the amount of capital UniCredit must hold as it takes a fresh look at banks’ assets given risks from the economic downturn and war in Ukraine. The ECB raised UniCredit’s minimum threshold for best quality capital to 9.20% of risk-weighted assets for …
ECB nudges up UniCredit’s capital requirement to shore up defences Read More »
LONDON (Reuters) – Britain’s biggest domestic bank Lloyds has hired ING’s technology chief to run its operations, Lloyds said on Thursday. Ron van Kemenade will join Lloyds as group chief operating officer in June next year, the British bank said. Van Kemenade will be charged with helping Lloyds CEO Charlie Nunn deliver his strategy to …
By Selena Li HONG KONG (Reuters) – The Hong Kong government has named Julia Leung as new head of the Securities and Futures Commission (SFC), becoming the first female chief of the territory’s securities regulator. Leung, currently deputy chief and head of the intermediaries division at the 33-year-old SFC, will succeed Ashley Alder when his …
Julia Leung to become first female head of Hong Kong securities watchdog Read More »
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla shares extended declines to hit their lowest level in more than two years on Wednesday, as investors including a “fanboy” of CEO Elon Musk lashed out at Musk’s distraction from the electric car company following his buy of Twitter. Shares of Tesla, the world’s most valuable carmaker, …
Tesla shares fall as investors bash Musk’s Twitter focus Read More »
SHANGHAI (Reuters) – The asset management arms of some Chinese banks are turning to an accounting method that smoothes out the performance of wealth management products as they try to stem a rise in redemptions, two sources familiar with the matter told Reuters. Under so-called “amortized cost” accounting, total returns from fixed income products are …
Chinese bank wealth units seek to smooth performance amid redemptions Read More »
(Reuters) – Global commodities trader Trafigura Group on Wednesday said it is piloting a sustainable supply chain finance program with eFactor Network for mining companies in Mexico. “Trafigura’s suppliers of metal concentrates will receive accelerated payments for products using eFactor’s digital factoring platform,” the trader said in a statement. (Reporting by Deep Vakil in Bengaluru; …
Trafigura to pilot sustainable supply chain finance program for Mexican miners Read More »
By Nell Mackenzie LONDON (Reuters) – Hedge fund Muddy Waters is shorting the bonds of Luxembourg-based real estate investment company Vivion Investments, it said in a report published on its website on Wednesday. Vivion Investments raises money from outside creditors to fund property transactions. Muddy Waters said in the report that it suspected these real …
Muddy Waters says it is shorting bonds of real estate firm Vivion Read More »
By David Randall NEW YORK (Reuters) – Energy stocks and other value stocks will likely be “casualties” of falling inflation, said Cathie Wood, the star stock picker whose ARK Innovation Fund has come back down to earth, in a webinar on Tuesday. Instead, lower interest rates should be a “boon” to growth stocks, she said, …
Ark’s Wood sees U.S. now in recession, expects energy stocks to tumble Read More »
MILAN (Reuters) – Italian boutique investment bank Equita has hired former Lazard banker Edoardo Schiavina as managing director to strengthen its industrial advisory team, it said on Tuesday. Schiavina joins Milan-based Equita after a 14-year stint at Lazard where he worked on more than 30 deals for a total value of 25 billion euros ($26 …
