ECB to Test Banks’ Ability to Recover From Cyberattack
The European Central Bank (ECB) will conduct a stress test of 109 financial institutions under its direct supervision on the ability to restore the functioning process after cyber attacks.
Finance & Economics - page 34
HSBC Reportedly Joins Ranks of Suitors for Tesco Banking Arm
HSBC has joined the list of financial institutions that are participating in a kind of race for the right to acquire Tesco Bank.
National Bank of Cambodia Partners IFC to Boost Green Finance
Cambodia’s transition towards a green economy requires a financing boost, with the National Bank of Cambodia and IFC joining efforts to support climate-friendly projects.
US National Debt Hits $34 Trillion
The debt of the Government of the United States has exceeded the $34 trillion mark for the first time in history.
UK Executives Urge Bank of England to Cut Rates
In the United Kingdom, the executives of local companies appealed to the Bank of England to lower interest rates shortly, arguing that this decision by the financial regulator would be able to support the country’s weakening economic system after the so-called depressed confidence turned out to be at a four-month low.
HSBC Completes Sale of Its French Retail Banking Business
HSBC subsidiary HSBC Continental Europe (HBCE) has completed the sale of its retail banking business in France.
China’s Factory Activity Picks Up
A private gauge of factory activity in China showed an increase in December.
China Injects $50 Billion Into Some Banks
Last month, the People’s Bank of China injected almost $50 billion into policy-oriented lenders.
US Overtakes China as South Korea’s Top Export Market
In December, shipments of goods produced by South Korean companies to the United States exceeded exports to China.
China’s Richest Provinces to Take Lead in Driving Economic Growth
In China, local officials have released information on their priorities for next year, which includes, among other things, promises from some of the country’s most financially secure provinces to become a driving force in stimulating the growth of the state’s economy.
Goldman Rethinks Emerging Markets Strategy Due to China Lesson
Kamakshya Trivedi, head of global currencies, interest rates, and Emerging Markets Strategy at Goldman Sachs Group, said that he had learned two lessons from one of the largest and most common unsuccessful forecasts of this year, which envisaged a rapid recovery of China’s economic system after the end of the country’s policy of severe restrictions […]
Morgan Stanley Expects Record Japan Revenue
Morgan Stanley expects that shortly its income generated as a result of operating in Japan will be fixed at the level that is the highest in the history of its presence in this country.
French Prosecutor’s Office Investigates BNP Paribas
In France, the prosecutor’s office is currently investigating alleged aggravated money laundering related to financial transfers made by a Cypriot brokerage company that interacted with the custodial unit BNP Paribas.
Swiss Finance Minister Says About Need for New Rules After Credit Suisse Crisis
Swiss Finance Minister Karin Keller-Sutter said that the purchase of Credit Suisse by the UBS Group was a less risky step, noting the need for the government of this country to take measures capable of providing a high level of protection to taxpayers in the event of a crisis in the banking sector.
US Home Prices Hit Another Record High
In October, housing costs continued to rise in the United States.
Singapore November Core Inflation Demonstrates Subdued Demand
In Singapore, core inflation showed a dynamic of the decline in November.
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