Fitch Ratings upgraded the outlook for six major Chinese banks from Negative to Stable on Tuesday, reflecting continued confidence in government support—even as China’s sovereign rating was downgraded. Fitch Ratings has revised its outlook for six key Chinese banks to Stable, a shift from the previous Negative stance. The move suggests a more optimistic view of the institutions’ financial stability and continued
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In a surprising turn of events, the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, announced on Thursday that they would increase oil output by 411,000 barrels per day (bpd) in May. The announcement led to an immediate reaction in oil prices. Brent futures plummeted by 6.42% to 70.14 per barrel, while West Texas Intermediate (WTI)
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The global bond market experienced a sharp selloff as the benchmark 10-year Japanese government bond (JGB) yield surged past 1.5%, reaching its highest level since June 2009 in Tokyo trading on Thursday. This comes just a day after the 10-year German Bund yield—a key global borrowing cost benchmark—saw its biggest single-day rise since the 1990s, triggered by Berlin’s decision to unlock hundreds
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The United Kingdom’s Competition and Markets Authority (CMA) announced on Friday that it has reached a settlement with four banks over competition law violations in the gilt market. Gilts are a crucial type of UK government bond that help finance public spending. Investors lend money to the UK government in exchange for stable interest payments. Following an investigation, the CMA determined that
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Brazil has officially announced its decision to join OPEC+, the influential alliance of major oil-exporting nations, marking a significant milestone in the country’s energy sector. The move, approved by the National Energy Council on Tuesday, follows an invitation extended in 2023, reflecting Brazil’s growing role as a global oil powerhouse. OPEC+, established in 2016 to regulate oil supply and stabilize prices, consists
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The price of gold soared to a new all-time high on Monday, driven by mounting investor concerns over escalating trade tensions following United States President Donald Trump’s latest tariff announcement. The U.S. leader said during the weekend that he will announce new 25% tariffs on Monday (Feb. 10) on all steel and aluminum imports into the U.S. Additionally, Trump announced plans to
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Swiss banking giant UBS has reported a fourth-quarter net profit of $770 million, significantly exceeding analyst forecasts of $483 million. This strong financial performance was driven by a 7% increase in total revenue, reaching $11.6 billion. Investment Bank underlying revenues were up 37% YoY with strong growth in Global Banking and Global Markets leading to market share gains in areas of strategic
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HSBC, Europe’s largest bank, has announced a major restructuring of its investment banking operations as part of CEO Georges Elhedery’s broader strategy to streamline and refocus the organization. The London-based bank will wind down its mergers and acquisitions (M&A), advisory and equity capital market (ECM) services in the UK, Europe, and the U.S., while retaining more focused capabilities in Asia and the
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China has officially launched the National Artificial Intelligence Industry Investment Fund, contributing a total of 60.06 billion yuan to drive AI industry development, according to a report from the Securities Times on Monday (Jan. 20). The partners of the fund include Third Phase of the National Integrated Circuit Industry Investment Fund (Big Fund Phase III) and Shanghai Guozhitou Equity Investment Management Co.
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Investors and fund managers grow more optimistic toward private equity (PE) from 2025, according to a new report by London-based investment data company Preqin. Half of surveyed investors aim to increase their investment in private equity in 2025, compared with 28% the year before, although exits and asset valuations are still a concern. After two challenging years for private equity in 2022
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