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Analysis-Fearing war in Xi’s next term, Taiwan bolsters defences
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ECB’s Villeroy lays out plan for shrinking balance sheet
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Caixabank proposes sector-wide freeze in variable mortgage costs, source says
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Germany’s SLM recommends shareholders accept Nikon takeover offer
Factbox-Ticking bomb: The risks the IMF sees to financial stability
Date: October 12, 2022
(Reuters) – The International Monetary Fund warned on Tuesday of a disorderly repricing in markets, saying global financial stability risks have increased, raising the potential of contagion and spillovers of stress between markets. The IMF’s Global Financial Stability Report, which warned of the risks to markets, came as the Fund also cut its growth outlook...
British pensions step up multi-billion-pound asset fire sale as need for cash soars
Date: October 11, 2022
By Tommy Wilkes and Carolyn Cohn LONDON (Reuters) – UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the Bank of England calls time on support aimed at keeping them afloat. The Bank of England plans to stop buying bonds on Oct. 14, leaving pension schemes...
Fire-fighting Bank of England forced to buy inflation-linked bonds
Date: October 11, 2022
By Andy Bruce LONDON (Reuters) -The Bank of England sought again to stem a sharp sell-off in Britain’s 2.1 trillion pound ($2.3 trillion) government bond markets on Tuesday, expanding its emergency buying to inflation-linked debt. Citing a “material risk” to financial stability after pension firms were hit by the turmoil, the BoE split its programme...
Swiss National Bank’s Jordan says central bank independence vital to fight inflation
Date: October 11, 2022
ZURICH (Reuters) – Central banks need to resist political pressure to slow monetary policy tightening as they hike interest rates to fight resurgent inflation, Swiss National Bank Chairman Thomas Jordan said on Tuesday. Risks to central bank independence are “real and present around the globe, also in Switzerland”, Jordan said in remarks prepared for a...
Uber, Lyft slump as U.S. proposal on workers a potential blow to gig economy
Date: October 11, 2022
(Reuters) – Shares of Uber Inc, Lyft Inc and Doordash Inc fell about 10% on Tuesday on fears that a U.S. proposal to deter companies from treating workers as independent contractors would raise costs for the barely profitable firms. The U.S. Labor Department’s proposal will require workers to be considered a company’s employees – who...
Oil falls on fears of global recession, China COVID flare-up
Date: October 11, 2022
By Laura Sanicola (Reuters) – Oil prices fell about 2% on Tuesday, extending the previous session’s almost 2% decline, as recession fears and a flare-up in COVID-19 cases in China raised concerns over global demand. World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk...