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...“China represents 40 per cent of the global certification market and we are currently under-represented there, which is something we are seeking to address in part with assistance from the [Goldman-CIC]...
...It has emphasised its technology prowess in building a digital-first bank. While it has a credit card loan book of $137bn, it also has issued a significant volume of auto and commercial loans....
...Consumer staples stocks, as we have written, have moved sideways since May of last year and trail the market by more than 20 per cent....
...Bank of Montreal, Canadian Imperial Bank of Commerce and Toronto-Dominion Bank already have $128bn worth of variable-rate mortgages that are in “negative amortisation”....
...The US Chamber of Commerce has already filed a lawsuit alleging that the FTC overstepped its authority and further legal challenges are expected....
...In a statement, Sandoz called AbbVie’s continued dominance “the epitome of a dysfunctional market”....
...The start of the year is typically a strong period for banks’ trading businesses with clients returning in January and taking new financial bets, but markets have lacked much of the frenzy of the past few...
...Blackstone has struck billions of dollars of similar deals with a handful of banks....
...Meanwhile, advertising revenue at Google also rose, suggesting that AI-powered chatbots are yet to hit usage of the world’s dominant search engine....
...The top US energy supermajor said on Wednesday that it had filed a case in the International Chamber of Commerce in Paris to assert its right of first refusal over Hess’s stake in the so-called Stabroek...
...US government debt is held by nearly every big investor and central bank around the world, and is the benchmark from which many global assets are priced....
...“Direct lenders made significant market share gains on the banks because the banks were undergoing periods of stress,” said Kipp deVeer, head of Ares’ credit business....
...Bank of America has sent “letters of education” to employees who have not been showing up at the office, warning them of disciplinary action, in the latest move from a large company to push staff back to...
...That doughty — somewhat dull — Canadian insurance company known as Manulife does not often attract attention. This week, however, it caused a frisson in the real estate world....
...BofA and Wells upped the amount of money they provisioned for soured loans, blaming rising risks in the commercial property market....
...All three defendants were charged with one count of conspiracy to use interstate commerce facilities in a murder-for-hire commission....
...The burden is increased by the slowdown in the commercial loan market — the bread and butter of regional banks....
...Since the banks’ utter inability to understand their own risk-taking nearly crashed the world economy in 2008, society’s basic response has been to pile lots and lots of highly specific rules on to the industry...
...The Korean and American chambers of commerce in Vietnam did not respond to a request for comment....
...The requirements, which would force banks to bolster their financial reserves, have been opposed by many in the industry....
...The four-decade bond bull market is widely believed to be over, so investors want more coupon in place of the expectation of capital appreciation....
...Those losses would balloon further if the remaining debt, including $3bn of junior loans, was sold by the banks into the market....
...The regulator estimated this would capture about 17 companies accounting for 88 per cent of market share....
...two weeks, according to analysts at Bank of America....
...banking (FT) Bank of America profits beat forecasts despite drag from low-yielding bonds (FT) Activist fund targets Japan rail company with $12bn stake in Tokyo Disneyland owner (FT) News Corp break-up...
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