Cheap yuan catapults China to second-biggest trade funding currency

Cheap yuan catapults China to second-biggest trade funding currency

SHANGHAI/SINGAPORE, Nov 17 (Reuters) – Global companies are making a beeline for China’s debt markets, issuing record amounts of yuan-denominated bonds and borrowing heavily from mainland banks, capitalising on rock-bottom yuan interest rates as funding costs elsewhere jump. Companies and banks are raising record amounts of cash through yuan bonds issued in mainland China and … Read more

Environmental groups urge funding halt for TotalEnergies’ Mozambique project

Environmental groups urge funding halt for TotalEnergies’ Mozambique project

TotalEnergies signs are seen at a petrol station in Nice, France, October 10, 2022. REUTERS/Eric Gaillard/File Photo Acquire Licensing Rights CAPE TOWN, Nov 17 (Reuters) – Banks and other financiers should withdraw their support of TotalEnergies’ (TTEF.PA) $20 billion liquefied natural gas (LNG) terminal in Mozambique, environmental lobby groups urged in a letter sent to … Read more

Morning Bid: Murky US inflation picture

Morning Bid: Murky US inflation picture

A trader works on the floor of the New York Stock Exchange shortly before the closing bell as the market takes a significant dip in New York, U.S., February 25, 2020. REUTERS/Lucas Jackson/File Photo Acquire Licensing Rights A look at the day ahead in U.S. and global markets from Mike Dolan If investors were wondering … Read more

IPO laggards’ race to the bottom misses the target

IPO laggards’ race to the bottom misses the target

A view shows the Milan stock exchange building, as stocks slid in the first hours of trading after fears that the collapse of Silicon Valley Bank could trigger a broader financial crisis, in Milan, Italy, March 13, 2023. REUTERS/Claudia Greco Acquire Licensing Rights MILAN, Nov 10 (Reuters Breakingviews) – Italy is scrambling to make its … Read more

Goldman Sachs developing dozen generative AI projects -exec

Goldman Sachs developing dozen generative AI projects -exec

[1/4]George Lee, co-head of the office of applied innovation for Goldman Sachs, speaks during the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 9, 2023. REUTERS/Brendan McDermid Acquire Licensing Rights NEW YORK, Nov 9 (Reuters) – Goldman Sachs (GS.N) is working on a dozen projects which will incorporate generative artificial intelligence into … Read more

Santander’s Botin plans push in US corporate banking for renewables, auto lending

Santander’s Botin plans push in US corporate banking for renewables, auto lending

Ana Patricia Botin, chairwoman of the Spanish bank Santander, speaks during the annual results presentation at the company’s headquarters in Boadilla del Monte, outside Madrid, Spain, February 2, 2023. REUTERS/Violeta Santos Moura Acquire Licensing Rights NEW YORK, Nov 9 (Reuters) – Banco Santander Executive Chair Ana Botin plans to deepen the lender’s corporate banking presence … Read more

HSBC to build large personal banking business in India – country CEO

HSBC to build large personal banking business in India – country CEO

HSBC Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights MUMBAI, Nov 9 (Reuters) – HSBC (HSBA.L) aims to further expand personal banking in India to serve the country’s fast-growing pool of high-earning professionals, after the launch there in July of its private bank, its India CEO … Read more

BofA CEO Moynihan says US economy headed for soft landing

BofA CEO Moynihan says US economy headed for soft landing

NEW YORK, Nov 8 (Reuters) – Bank of America (BAC.N) CEO Brian Moynihan said on Wednesday he expects a soft landing in which the U.S. economy avoids a recession even as consumer spending and commercial borrowing slow. “Our research team is the best in the business and they have moved to the soft landing category. … Read more

For global banks, India could soon be worth it

For global banks, India could soon be worth it

A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, January 3 2020. REUTERS/Francis Mascarenhas Acquire Licensing Rights BENGALURU, Nov 7 (Reuters Breakingviews) – Global banks’ CEOs have descended on Hong Kong for a financial leaders summit hosted by the city’s monetary authority but investment bankers based in the hub are … Read more

Don’t confuse customers over stablecoins, Bank of England warns lenders

Don’t confuse customers over stablecoins, Bank of England warns lenders

A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing Rights LONDON, Nov 6 (Reuters) – The Bank of England told lenders on Monday that they must avoid any risk that customers might confuse new forms of e-money like ‘stablecoins’ with standard deposits … Read more