Archegos fallout shows big banks need to be resilient, Swiss cenbank says
Losses from exposure to U.S.-based investment firm Archegos have demonstrated the need for “too big to fail” capital requirements to ensure adequate resilience at Credit Suisse (CSGN.S) and UBS (UBSG.S), the Swiss National Bank (SNB) said on Thursday.
What you need to know about the coronavirus right now
Here’s what you need to know about the coronavirus right now.
‘Meme’ stock prices may not properly reflect demand -NYSE president
The prices of so-called meme stocks may be distorted because the majority of trades in those names are executed away from public exchanges where share price formation occurs, the head of the New York Stock Exchange said on Wednesday.
BOJ may start debate on stimulus retreat in 2023, former c.banker says
The Bank of Japan may be able to start debating ways to phase out its extraordinary stimulus programme, such as by ditching negative interest rates, in 2023, said former central bank executive Eiji Maeda.
Investors trim long positions on Asian currencies, yuan bets halved
Long bets on most of Asia’s emerging currencies were trimmed, a Reuters poll showed on Thursday, as investors weigh the prospect of tighter monetary settings as the U.S. recovery outperforms, while the COVID-19 situation locally is brought under control.
Philippine Airlines parent posts record loss, readies restructuring plan
MANILA, June 17 (Reuters) – The parent company of Philippine Airlines’ (PHL.UL) booked a record 73 billion pesos ($1.51 billion) loss in 2020, up seven fold from a year earlier, after the COVID-19 pandemic lashed the global aviation sector.
NZ economy surges as housing, retail drive post-COVID recovery
New Zealand’s economic growth swept past forecasts in the first quarter on the back of a housing boom and strong retail spending, avoiding a second recession and bringing forward expectations for tighter monetary policy.
Microsoft names CEO Satya Nadella as chairman
June 16 (Reuters) – Microsoft Corp (MSFT.O) on Wednesday named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson.
Dollar hits two-month highs on Fed’s hawkish surprise; kiwi climbs after GDP
The dollar rose to its highest level in almost two months versus major peers on Thursday after the Federal Reserve brought forward its projections for the first post-pandemic interest rate hikes into 2023, citing an improved health situation and dropping a long-standing reference that the crisis was weighing on the economy. read more
Crude oil prices steady near multi-year highs
Crude oil prices hovered near multi-year highs on Thursday buoyed by dropping U.S. crude inventories and broadly shrugging off a stronger U.S. dollar.
