Global bond sales to cross $10 trillion in 2022, S&P Global Ratings says
Global sovereign borrowing will reach $10.4 trillion in 2022, nearly a third above the average before the coronavirus pandemic, S&P Global Ratings said in a report.
Age before apps revolt galvanises Europe’s elderly savers
Aggravated by fiddly financial apps, retired urologist Carlos San Juan got more than he bargained for when he began a campaign for a more user-friendly service from Spain’s banks.
UBS books best annual profit since 2006, sets loftier goals
UBS (UBSG.S) on Tuesday reported its best annual profit since the global financial crisis, emboldening it to hike share buybacks and set more ambitious profit goals as it banks that more digital products will result in hefty cost-savings.
Analysis: Baptism by fire awaits today’s rate-hike rookies
Today’s central bankers have the unenviable task of weaning a pandemic-hit global economy off cheap money amid unprecedented sovereign debt levels and with asset prices inflated by years of stimulus and near-zero interest rates.
Goldman profit hit by weaker trading, rising expenses; shares tumble
Shares in Goldman Sachs Group (GS.N) fell as much as 8% Tuesday after Wall Street’s premier investment bank missed quarterly profit expectations, hampered by weaker trading revenues and rising expenses.
EXCLUSIVE BNP hires advisers to explore $15 bln Bank of the West sale – sources
BNP Paribas (BNPP.PA) is working with advisers to assess a sale of its U.S. arm Bank of the West as it seeks to retreat from the American retail banking market after struggling to compete with larger and better capitalised rivals, sources told Reuters.
EXCLUSIVE White House to target bank mergers, financial data with competition order
WASHINGTON, July 9 (Reuters) – President Joe Biden’s planned executive order to promote greater U.S. competition will target bank mergers by pushing the Federal Reserve and the Department of Justice to update merger guidelines and increase scrutiny of deals, according to a source familiar with the matter. It will also ask the Consumer Financial Protection […]
U.S. consumer confidence at 16-month high; house price inflation heating up
U.S. consumer confidence jumped to its highest level in nearly 1-1/2 years in June as growing labor market optimism amid a reopening economy offset concerns about higher inflation.
U.S. corporate junk-bond spread narrows, lowest since 2007
The yield spread between junk-rated corporate bonds and U.S. Treasuries tightened further late on Wednesday, falling to its lowest level in more than a decade as yield-hungry investors snapped up risky debt.
Reshaping European economic integration in the post-Covid world
Most of the discussion on the economic policy response to the pandemic in Europe has centred on its ambition, tools, and institutional characteristics. Less discussion has taken place on the factors shaping EU integration and economic policy priorities after the pandemic. In a new CEPR Policy Insight, the authors argue that four sets of issues will be important in shaping the legacy of the pandemic for European integration: redefining the new boundaries between state and market; revisiting the nature of subsidiarity; reconnecting the EU domestic with the global agenda; and learning to respond to longer term structural shifts.
