BlackRock backs banks, cuts European, EM debt as part of "new playbook"

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Global Investor Sponsored by     Tweet       Share BlackRock backs banks, cuts European, EM debt as part of "new playbook" Asset manager BlackRock has said 2023 will require a new investment playbook, backing banks and energy sectors to do well while slapping 'underweights' on longer-term European government bonds and emerging market local currency debt. U.S. hedge fund Engine Capital urges Univar to consider sale, other options U.S. hedge fund Engine Capital on Wednesday urged Univar Solutions Inc to consider a sale or other strategic options, days after Germany's Brenntag SE said it was in preliminary talks to buy the chemicals company. Top Canada banks post fall in profits as deals drought offsets rate boost Royal Bank of Canada (RBC) and National Bank of Canada , two of the biggest banks in the country, posted a drop in profits as their market-focused businesses took a hit from the central bank's hawkish monetary tightening campaign. National Bank of Canada quarterly profit falls on higher expenses, provisions National Bank of Canada posted a lower fourth-quarter profit on Wednesday, as the Canadian lender set aside higher provisions in the face of an economic downturn. HSBC to close 114 branches in Britain from April 2023 HSBC will close 114 branches in Britain from April 2023, the British lender said on Wednesday, the latest in a string of such announcements by retail banks in the country as they slash their networks to try and cut costs. Sponsored by CME Group: Why Traders Increasingly Seek Insights Via CVOL Indexes Volatility indexes in crude oil, interest rates and many other markets are proving to be valuable tools for traders. "It helps me to identify opportunities to buy or sell volatility." More Insights Britain's financial watchdog fines Julius Baer $21.6 million Britain's Financial Conduct Authority (FCA) said on Wednesday it had fined a UK subsidiary of Swiss private bank Julius Baer 18 million pounds ($21.59 million) for failing to conduct its business with integrity. Close Yellen adviser Lipton to step down David Lipton, one of U.S. Treasury Secretary Janet Yellen's closest advisers who has helped shape international economic policy, will step down on Wednesday, the department said. Credit Suisse shares sink to new record lows, bonds tumble Credit Suisse shares and bonds took another hit on Wednesday in a sign the embattled Swiss bank is struggling to regain investor confidence ahead of a planned $2.4 billion fundraising to help pay for a major overhaul. UBS not seeking to benefit from crisis at Credit Suisse- chair UBS is not actively benefiting from the crisis at rival Credit Suisse , UBS Chairman Colm Kelleher told a Financial Times banking conference on Wednesday. JPMorgan, UBS and others vie for bigger share of China's pension market Chinese ventures of foreign asset managers including JPMorgan , Warburg Pincus (WP.UL) and UBS are gearing up to expand their retirement offerings, as the country officially unveiled a private pension system last week. Related Videos Could lawsuit against Binance send crypto back to its decentralized finance roots? Wall St. ends higher as Powell assuages rate worries Russian invasion 'pretty much locks in' gradual move by Fed -portfolio manager Sponsors are not involved in the creation of these or any other Reuters news articles. Get Reuters News App To manage which newsletters you're subscribed to, click here. Want to stop receiving this email? Unsubscribe here. To contact us with feedback, reply to this email.                      © 2022 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036 Privacy Policy    |   Terms and Conditions