🔒 US quietly asks banks to keep some ties with Russia, even as Congress balks
Banks like Dimon’s, Sherman argued, were exploiting a sanctions loophole to keep doing business in Russia despite its invasion of Ukraine.
Banks like Dimon’s, Sherman argued, were exploiting a sanctions loophole to keep doing business in Russia despite its invasion of Ukraine.
Credit Suisse is aiming for a 6% return on tangible equity in 2025, a target that analysts at Citigroup Inc. said “appears to lack ambition.”
US equities have been hammered this year as signs of stubbornly high inflation and a hawkish Federal Reserve raise the specter of recession, even as President Joe Biden has said a downturn will be “very slight.”
Naspers spin-off Prosus has announced its intention to reduce its stake in Tencent by 2%, selling over 190 million shares in the process.
Greensill collapsed into insolvency earlier this month after regulators took over its German bank and Credit Suisse froze its investment funds.
South Africa’s volatile currency caught Citigroup in a wrong-way bet within a day in a short-dollar position versus the rand.
Yesterday’s Sunday Times newspaper reported that the government is to deploy police and intelligence officers at Eskom power stations to protect against sabotage.
MTN and four lenders won approval from Nigeria’s central bank to repatriate funds in a ruling last year, indicating Africa’s largest wireless operator is at least now complying with regulations it’s accused of flouting prior to 2015.
Emerging market government bonds have bounced back from their decline in the first half of 2018, but many bond-fund managers aren’t buying the rebound.
Moody’s Investors Service confirmed the long-term issuer and senior unsecured ratings of the Government of South Africa at Baa3, as well as the (P)Baa3 senior unsecured shelf and senior unsecured MTN program ratings. The outlook was changed to stable.