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April 14, 2021

Financials (Legacy)

Credit Suisse still unloading Discovery shares after Archegos-related loss – CNBC

Reuters
FILE PHOTO: Switzerland’s national flag flies below a logo of Swiss bank Credit Suisse at its headquarters at the Paradeplatz square in Zurich, July 31, 2019. REUTERS/Arnd Wiegmann/File Photo (Reuters) – Credit Suisse Group AG is still unloading its positions in media company Discovery Inc after losses relating to Archegos......

Sudan’s annual inflation rate rises to 341% in March

Reuters
KHARTOUM (Reuters) – Sudan’s annual inflation rate climbed to 341% in March from 330% in February, the country’s statistics agency said on Monday. Sudan, which has one of the highest rates of inflation in the world, sharply devalued its currency in February in an attempt to overcome a crippling economic......

UK economy to return to pre-COVID-19 level around mid-2022: Reuters poll

Reuters
LONDON (Reuters) – Britain’s economy will be back to its pre-COVID-19 level around the middle of next year, according to economists in a Reuters poll who said unemployment would peak at 6.2% as 2021 draws to a close and the pandemic job support scheme ends. FILE PHOTO: The City of......

Turkey’s Halkbank urges end of U.S. prosecution alleging Iran sanctions violations

Reuters
NEW YORK (Reuters) – A lawyer for Halkbank told a U.S. appeals court on Monday that the state-owned Turkish lender was immune from U.S. prosecution and that an indictment accusing it of helping Iran evade American sanctions should be thrown out. FILE PHOTO: People walk past a branch of Halkbank......

China’s Ant Group to become financial holding company: central bank

Reuters
FILE PHOTO: A thermal imaging camera is seen in front of a logo of Ant Group at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. REUTERS/Aly Song/File Photo BEIJING (Reuters) – Ant Financial, the fintech affiliate of Alibaba Group Holding Ltd,......

Sterling recovers; long positions shrink to nine-week low

Reuters
* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh * Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv LONDON, April 12 (Reuters) – The pound rose on Monday, recovering partly after a weekly loss, while CFTC data showed that speculators’ net long positions fell to a nine-week low as market participants split......

UK investors expand anti-slavery push to construction, materials sectors

Reuters
LONDON (Reuters) – A UK investor coalition that presses companies to unearth modern-day slavery in their supply chains said on Monday it was going to expand its campaign into the construction and materials sectors. FILE PHOTO: Construction workers are seen working at a site in London, following the outbreak of......

Swiss watchdog asked Credit Suisse on Greensill risks: SonntagsZeitung

Reuters
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann//File Photo/File Photo ZURICH (Reuters) – The head of Switzerland’s financial regulator FINMA questioned Credit Suisse over risks in its dealings with now-insolvent finance firm Greensill Capital “months” before......

Qatar National Bank’s Q1 net profit falls 7% as provisions climb

Reuters
DUBAI, April 11 (Reuters) – Qatar National Bank (QNB) , the biggest lender in the Gulf, said on Sunday its first quarter net profit fell by 7% from a year earlier to 3.3 billion riyals ($906 million) as it booked 1.4 billion riyals in “precautionary” loan loss provisions. The bank’s......

Exclusive: China’s antitrust regulator bulking up as crackdown on behemoths widens

Reuters
BEIJING/HONG KONG (Reuters) – China’s competition watchdog is adding staff and other resources as it ramps up efforts to crack down on anti-competitive behaviour, especially among the country’s powerful companies, people with knowledge of the matter told Reuters. FILE PHOTO: The logo of Alibaba Group is seen at its office......

After dire year England’s shops hope for end-of-lockdown shopping spree

Reuters
LONDON (Reuters) – After more than three months of enforced closure due to the COVID-19 pandemic, non-essential stores in England reopen their doors on Monday, hoping that the escape from lockdown will fuel a trading boom. FILE PHOTO: A man walks a dog in front of a closed retail unit......

Big $40 million options trade bets on near-term stock market tumble

Reuters
NEW YORK, April 8 (Reuters) – A massive trade in the U.S. options market on Thursday appears to be betting that the calm enveloping U.S. stocks in recent weeks will give way to a big rise in volatility over the next three months. One or more traders laid out a......

Exclusive: Brazilian payments network Elo picks banks for IPO – sources

Reuters
SAO PAULO (Reuters) – Brazilian payments firm Elo has chosen six banks to manage its initial public offering, four sources close to the matter said, in the first concrete sign it is proceeding with a move first proposed by shareholders in August. FILE PHOTO: A view of the exterior of......

CORRECTED-Brazilians withdraw record $5 bln from bank savings in first quarter

Reuters
(In first paragraph corrects dollar amount to $629 million not billion) BRASILIA, April 7 (Reuters) – Brazilian savings accounts shrank by 3.5 billion reais ($629 million) in March, figures showed on Wednesday, bringing net withdrawals in the first three months of the year to a quarterly record of 27.5 billion......

Climate change protesters break windows at Barclays London HQ

Reuters
LONDON (Reuters) – Protesters against climate change broke windows at the London headquarters of Barclays in the Canary Wharf business district on Wednesday. The activists from the Extinction Rebellion group carried placards with slogans such as “Better Broken Windows than Broken Promises” and pasted the message “In Case of Climate......

EasyJet CEO criticises testing requirements in Britain’s travel restart plan

Reuters
FILE PHOTO: EasyJet CEO Johan Lundgren gestures as he talks to media at Gatwick Airport, Britain, June 15, 2020. REUTERS/Peter Cziborra LONDON (Reuters) – The chief executive of British airline easyJet criticised some of the government’s plans to restart travel, saying COVID-19 tests should not be required for passengers travelling......

China’s blue-chip index ends lower as healthcare, consumer stocks slip

Reuters
SHANGHAI, April 6 (Reuters) – China’s blue-chip index retreated on Tuesday, pressured by healthcare and consumer companies, as upbeat economic data raised worries of policy tightening. ** The blue-chip CSI300 index fell 0.4% to 5,140.34, while the Shanghai Composite Index was flat at 3,482.97. ** As of last close, the......

Europe’s STOXX 600 hits record high on global recovery optimism

Reuters
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) April 6 (Reuters) – Europe’s benchmark equity index hit a record high on Tuesday, recovering all of its pandemic-driven losses as investors bet on a speedy global economic recovery,......

Payments giant Stripe expands to Middle East with Dubai office

Reuters
FILE PHOTO: Stripe app logo is displayed in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration DUBAI (Reuters) – Digital payments giant Stripe on Tuesday announced the opening of an office in United Arab Emirates financial capital Dubai, its first expansion into the Middle East region. Founded in 2010 by......

Japan’s Mizuho says CEO to hold news briefing at 0900 GMT over system failures

Reuters
FILE PHOTO: Mizuho Financial Group’s Chief Executive Officer Tatsufumi Sakai poses for a photo after an interview with Reuters at the company’s headquarters in Tokyo, Japan August 20, 2018. REUTERS/Toru Hanai TOKYO (Reuters) – Mizuho Financial Group Inc said on Monday Chief Executive Tatsufumi Sakai will hold a news briefing......

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