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North America: Goldman Sachs – chance of a recession is now just 10%
The banks’ economists concluded that the improvement in financial conditions since the beginning of the year is in large part due to the abrupt policy shift by the Fed.
North America: IMF world bank meeting
Slowing global economic growth. Trade tensions. Rising inequality. A planet in peril. These challenges and some notable debuts will be on the agenda at this week's joint gathering of the IMF and World Bank in Washington D.C.
Africa: Fidelity Bank appoints new executive directors in Nigeria
Fidelity Bank Plc has announced the appointment of three new executive directors. The Board, which met in Lagos, approved the appointments of Gbolahan Joshua as Executive Director/Chief Operations and Information Officer; Obaro Odeghe, Executive Director, Corporate Bank; and Hassan Imam, Executive Director, Northern Directorate. Subject to the approval of the Central Bank of Nigeria.
Asia: Morgan Stanley to become top shareholder in China
Morgan Stanley has won an auction to buy an additional 5.5 percent stake in its China mutual funds joint venture, in a deal that will make it the top shareholder of Morgan Stanley Huaxin Fund Management Co.
Asia: Growing Turkish debt may spell trouble for banks
The corporate debt load has climbed to 40% of Turkey's gross domestic product, almost double the proportion in Eastern Europe’s 10 biggest emerging markets and South Africa, which equates to 22%.
South America: Santander names Brazil CEO as head of South America
The CEO of the Brazilian unit of Spanish banking giant Banco Santander, Sérgio Rial, will expand his role and be in charge of all of South America. With immediate effect, Rial became the head of operations of Santander across South America, comprising Brazil, Chile, Argentina, among others.
Europe: JPMorgan Rolls Out SEPA Instant in Europe
JPMorgan announced this week it’s launching SEPA Instant in Europe as part of its efforts to advance its real-time payments offerings. In an announcement, the bank said the launch of SEPA Instant in Europe rounds out its real-time payment capabilities in USD, GBP, and EUR, something the bank said none of its rivals currently offer.
Europe: UBS shareholders told to vote against pay policy
UBS Group AG investors should reject the firm’s compensation report, shareholder adviser Glass Lewis said. UBS had proposed a pay package that included 14.1 million francs in compensation for Chief Executive Officer Sergio Ermotti for last year. While that’s down slightly from the 14.2 million francs he received in 2017, executive pay at UBS appears consistently above peers, Glass Lewis said in an emailed report.
Oceania: ANZ bank reveals its big consumer data push to NSW
NZ bank has revealed plans to supply the NSW government with de-identified aggregated data pulled from consumer transactions made during major events, to become the state’s second transactional institution.