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Bank of America clients pour the most cash into ETFs since 2017

BANK of America (BofA) clients bought US$2.8 billion of US stocks last week, marking a sixth straight week of equity inflows at the bank, as they made heavy purchases of exchange-traded funds (ETFs) and sold tech shares, BofA strategists led by Jill Carey Hall wrote in a note Tuesday...

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Sam Bankman-Fried to fly to US Wednesday, escorted by FBI agents

FEDERAL authorities are set to whisk Sam Bankman-Fried to the US on Wednesday (Dec 21) to face a range of criminal charges related to the collapse of the FTX crypto exchange.

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Deutsche Bank weighs 4% base pay hike, dealmaker bonus cuts

DEUTSCHE Bank is considering giving some of its top earners in Germany and other key markets an elevated salary increase to help offset surging inflation, while cutting bonuses for investment bankers who’ve seen weaker performance.

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US CFPB orders Wells Fargo to pay US$3.7b for mismanagement

WELLS Fargo has agreed to pay US$3.7 billion to settle charges from a US consumer watchdog over widespread mismanagement of automobile loans, mortgages and deposit accounts.

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Yen soars to 4-month high after surprise BOJ policy tweak

THE yen surged to a four-month peak against the dollar on Tuesday (Dec 20) after the Bank of Japan stunned markets by deciding to review its yield curve control policy and widen the trading band for the 10-year government bond yield.

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Cryptocurrencies at crossroads after annus horribilis

TO borrow from Britain’s Queen Elizabeth, 2022 is not a year on which the cryptocurrency world shall look back with undiluted pleasure.

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HSBC offers lower paid UK staff £2,150 pay rise

HSBC has offered around 18,000 of its branch, call centre and back office staff in Britain a £2,150 (S$3,531) pay rise, as companies attempt to curb the impact of rampant inflation on their employees’ finances.

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Bank of Korea stresses highly uncertain inflation path

SOUTH Korea’s central bank said on Tuesday (Dec 20) the country’s consumer inflation would remain around 5 per cent for some time and then gradually ease but cautioned that domestic and global factors are raising uncertainty about how fast prices will slow.

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Bank Indonesia seen reducing rate hikes to modest 25bps on Dec 22: poll

COOLING inflation and a more resilient rupiah currrency is expected to give Bank Indonesia enough comfort to opt for a more modest quarter-point interest rate hike on Thursday (Dec 22), a Reuters poll found.

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Australia considered pausing rate tightening cycle in December

AUSTRALIA’S central bank considered pausing its policy tightening cycle this month but decided against it as incoming economic data didn’t yet warrant a change of stance, according to minutes of the Dec 6 meeting.

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