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Europe’s self-proclaimed investment banking champions are playing to their strengths, but remain far behind US peers
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
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Insurance firms are crying out for private debt supply to invest in, according to a BlackRock survey of senior executives in the sector published on Monday. -
Days after China made the landmark decision to appoint a US renminbi clearing bank, it has made yet another clear political statement by appointing Industrial and Commercial Bank of China Moscow as Russia’s clearing bank, with a bond market link also in the making.
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Renminbi adoption has surged in the United Arab Emirates while lagging behind in the Eurozone, according to the latest data by the Society for Worldwide Interbank Financial Telecommunication (Swift). The Chinese authorities also seem ready to increase RMB connectivity with the Middle East through a number of new initiatives.
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The Chicago Board Options Exchange has made a push for equity and options trading power in the US and Europe, by agreeing terms this week to buy Kansas-based exchange Bats Global Markets for $3.2bn.
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The appointment of a renminbi clearing bank in New York is a political win for the China-US relationship that adds to the currency’s global prestige, but it is unlikely to boost RMB trade or investment in the short term, according to experts.
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In this round-up, Chinese regulators have further delayed any expansion of the qualified domestic institutional investor, Vanguard has completed its transition to a FTSE index that includes A-shares, and Malaysia’s new payment system adds support for RMB debt securities. Plus, a recap of GlobalRMB’s coverage this week.
