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...That allowed it to reduce the interest rate on its $2.7bn loan by 0.5 percentage points....
...Rating agency S&P Global has forecast that, by June 2024, corporate default rates in the US will rise to 4.5 per cent, up from 1.7 per cent at the start of 2023....
...Following news of the scrapped acquisition, UBS promised to raise its dividend by a tenth to $0.55 a share and increase its proposed share buyback for 2022....
...Smart reads Survival mode Russia’s VTB was meant to rival Europe’s biggest lenders....
...While per capita incomes in advanced economies rose by 5 per cent last year, in low-income countries they rose just 0.5 per cent, he said....
...RPC said on Wednesday that the planned deal had the backing of Eminence Capital, which owns a 0.7 per cent stake and holds an economic interest over 7.6 per cent of the stock, and Canyon Capital, which has...
...The benchmark S&P/ASX 200 index was down 0.9 per cent....
...National Australia Bank was down 0.7 percent, while Westpac Banking Corporation had fallen 0.5 per cent....
...Shares in Commonwealth Bank of Australia were down as much as 1.5 per cent as Australia’s largest lender announced it was revamping its board of directors in the wake of a money laundering scandal....
...They revealed that a further 0.01 per cent HNA stake in early 2017 was acquired through HNA Capital (U.S.) Holding LLC....
...The S&P 500 slid 0.5 per cent to 2,137.73 — led by a 1 per cent drop in the S&P 500 financial sector....
...NAB shares were 0.4 per cent lower in early trade, versus the S&P/ASX 200 which was flat....
...Australia’s S&P/ASX 200 is expected to open 0.6 per cent lower, after the Reserve Bank of Australia yesterday cut interest rates to a record low 1.5 per cent....
...The major “four pillar” domestic banks are down between 0.9 per cent and 1.5 per cent today. Henderson Group, a fund manager with UK exposure, is down 5.2 per cent....
...The benchmark S&P/ASX 200 is up 0.5 per cent in morning trade....
...The dollar index, a measure of the US currency against a basket of global currencies, was 0.5 per cent weaker at 96.094. The euro was up 0.3 per cent at $1.1055....
...CYBG is up 37.5 per cent, while NAB has gained 0.1 per cent over the same period....
...CYBG – the UK lender formerly known as Clydesdale Bank – is down 10.1 per cent within the first hour of trade on the ASX, having been off as much as 12.5 per cent....
...A Bloomberg scale shows an average rating of 4.4 where 5 represents unanimous buy calls from analysts. The wall-to-wall optimism robs Chinese lenders of their antenna....
...Shares in National Australia Bank were higher in morning trade after the lender reported a 6.5 per cent year-on-year increase in cash earnings in the six months to March 31....
...The People’s Bank of China cut the reserve requirement ratio, which stipulates how much cash banks must keep in reserve, by 0.5 percentage points to 17 per cent for large, commercial lenders....
...And the central bank took action after the market closed on Monday, cutting the reserve requirement ratio by 0.5 percentage point to 17 per cent for major commercial lenders....
...In China, the Shanghai Composite was down 1.3 per cent, while the tech-focused Shenzhen Composite was 0.5 per cent lower....
...Prices: Asian markets Nikkei 225 down -202.69 (-1.03%) at 19,535 Topix down -15.59 (-0.99%) at 1,567 Hang Seng up +853.04 (+3.63%) at 24,370 ASX 200 up +0.77 (+0.01%) at 5,470 US markets S&P 500 (-1.67%...
...The Shanghai Composite index, which at one point was down 5 per cent to a three-month low, finally ended 5.6 per cent higher....
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