Latest market news

• China market round up: Shanghai tech board opens for IPO applications, local government debt reaches new heights, fiscal deficit widens

  

  In this round-up, Shanghai tech board has started accepting IPO applications, new issuance of local government bonds hits record, fiscal revenue growth slowed thanks to tax cuts

  • 22 Mar 2019

• China policy round-up: Xi visits Europe, trade talks continue, local government bonds available to retail

  

  In this round-up, Chinese president Xi Jinping starts a five-day visit to Europe, the eighth and ninth rounds of trade talks are scheduled and local government bonds will soon be available at bank counters.

  • 22 Mar 2019

• Bank debt: finding resolve in the face of a resolution

  

  The courts are starting to show that they have a key role to play in determining how EU bank resolutions play out.

  • 21 Mar 2019

• Obituary: Vishal Savadia, a widely respected expert on bank capital

  It is with much sadness that we have to report the death of Vishal Savadia.

  • 21 Mar 2019

• CLSA chiefs Slone, Beattie bail as parent Citic Securities boss gets heavy-handed

  

  CLSA took a hit this week after its long-serving chief executive officer, Jonathan Slone, and the bank’s chief operating officer both resigned, barely two weeks after chairman Tang Zhenyi also quit. The firm is caught in a struggle with its Chinese state-backed owner, Citic Securities, with the pair’s different approaches to investment banking a major sticking point. Jonathan Breen reports.

  • 21 Mar 2019

• Italy to renew GACS for two years without UTP clause

  

  The Italian government is to implement a two-year programme which will replace the Garanzia sulla Cartolarizzazione delle Sofferenze (GACS) scheme in order to help the banks shift their €200bn stock of non-performing loans (NPLs) off balance sheet. In a surprise, however, the new version of the scheme will not include language to incorporate unlikely-to-pay (UTP) loans.

  • 20 Mar 2019

• China’s commercial banks flock to tier two

  

  Chinese commercial banks’ rush to sell tier two bonds has begun. These banks look set to sell more subordinated debt this week than they did in the whole first quarter of 2018.

  • 20 Mar 2019

• The week in renminbi: Foreign investment law passes to allow greater market access, China and US snipe at each other’s human rights, Chinese onshore bond yields to tumble further

  

  In this round-up China’s new Foreign Investment Law is tipped to spark a wave of capital inflows, the US and China attack each other’s human rights records, Bank of China (BOC) expects onshore bond yields to fall but offshore ones to stabilise

  • 20 Mar 2019

• FIS plans to raise $11bn for Worldpay purchase

  

  US company FIS is buying the formerly RBS-owned Worldpay in a debt-funded $43bn transaction, a deal that will form one of the biggest financial services technology and payment companies in the world.

  • 18 Mar 2019

• Deutsche’s misfiring CIB a crucial factor in Commerz merger plans

  

  Deutsche Bank has signalled its commitment to maintaining a “strong capital markets business” after admitting it has begun formal merger talks with smaller rival Commerzbank.

  • 18 Mar 2019

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