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After quitting M&A and equity capital markets in Europe and the US last year, HSBC is striving to maintain global relevance — and London and New York still have a role to play
Deal raises questions about whether transaction was done at arm's length
Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
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Credit Suisse’s Asia Pacific unit returned to the black in the fourth quarter of 2016 as its full year income nearly doubled, the bank said on Tuesday. -
The Co-operative Bank put itself up for sale on Monday, but the ailing UK lender is also considering another debt-for-equity swap to build capital and avoid intervention from the Bank of England.
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The growth of renminbi trade has stalled, but it has forced a turning point to how corporates use the Chinese currency.
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China
While all eyes are focused on the Brexit process, the Bank of England (BoE) has quietly begun publishing numbers that support London's claim to be the leading RMB hubs in Europe. Meanwhile, market participants continue debate the relevance of the upcoming China-London Connect scheme.
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UniCredit announced an €11.8bn loss on Thursday as expected, paving the way for its €13bn rights issue and fifth shot at a transformational rescue. The bank said it had signed agreements preparing for 14,000 redundancies, but away from this carnage, the underlying businesses appeared to stay strong.
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Deutsche Bank has closed its US swaps clearing business with immediate effect, as the bank responds to regulatory requirements that would have forced it to post more capital than it was willing to support the business with.
