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News Highlights: Top Financial Services News of the Day

08/17/2022 | 12:16am EDT
RBNZ Raises Cash Rate, Sees More Tightening 
 

The Reserve Bank of New Zealand raised its benchmark interest rate by 50 basis points for a fourth consecutive time and said more monetary tightening is needed to control high inflation.

 
U.S. Audit Watchdog Fines KPMG Korea for Quality Control Failures 
 

KPMG Samjong Accounting was fined $350,000, and two former executives were also fined and charged with improperly altering work papers.

 
Citi Appoints Aveline San to Head Hong Kong and Macau Operations 
 

Citigroup Inc. has appointed Aveline San to helm its operations in Hong Kong and Macau, as the U.S. bank pushes to grow its wealth-management business in the region.

 
Mexico's Largest Shadow Bank Begins Restructuring as Funding Dries Up 
 

Unifin, the largest nonbank lender in Mexico, had recently told investors it had access to credit. Weeks later, it said it would halt debt payments and restructure.

 
Five Not-Quite-Impossible Things the Market Believes 
 

The last two months' rally in bonds and stocks-even putting the Nasdaq back into bull market territory-rests on a lot of people being wrong.

 
Foreign Investors Turned Net Buyers of Chinese Government Bonds in July 
 

But they continued to sell billions of dollars worth of bonds issued by Chinese policy banks.

 
Flush With Oil Profits, Saudi Arabia Pours $7.5 Billion Into U.S. Stocks From Amazon to Microsoft 
 

The kingdom is enjoying its strongest financial situation in years as a result of windfall revenue from high oil prices.

 
Money Pours Into Funds Targeting Solar, Data Centers 
 

Investment companies such as KKR and Brookfield Asset Management have raised $130 billion this year to invest in businesses that can withstand inflation.

 
Private-Equity Firms With Oil-and-Gas Focus Defend Sector 
 

Fossil fuels will still be necessary even as the world shifts to cleaner energy, these firms argue in marketing to investors.

 
Financial Services Roundup: Market Talk 
 

Find insight on the Fed's warning to banks on crypto, BofA's European Fund Manager survey, Samsung Life Insurance, Bendigo and Adelaide Bank, and more in the latest Market Talks covering Financial Services.


(END) Dow Jones Newswires

08-17-22 0015ET

Stocks mentioned in the article
ChangeLast1st jan.
BENDIGO AND ADELAIDE BANK LIMITED -2.14% 7.79 Delayed Quote.-12.53%
BROOKFIELD ASSET MANAGEMENT INC. 2.48% 57.2 Delayed Quote.-27.02%
CITIGROUP INC. -0.52% 42.26 Delayed Quote.-29.81%
KKR & CO. INC. 0.99% 43.78 Delayed Quote.-41.88%
LONDON BRENT OIL -3.45% 85.71 Delayed Quote.14.15%
MICROSOFT CORPORATION -0.13% 237.47 Delayed Quote.-28.32%
NASDAQ COMPOSITE 0.46% 10783.98 Real-time Quote.-31.37%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -1.83% 0.5638 Delayed Quote.-16.40%
SAMSUNG ELECTRONICS CO., LTD. 0.95% 53100 End-of-day quote.-32.18%
SAMSUNG LIFE INSURANCE CO., LTD. -0.48% 62400 End-of-day quote.-2.65%
TOP FINANCIAL GROUP LIMITED 3.77% 13.75 Delayed Quote.0.00%
WTI -2.13% 80.087 Delayed Quote.8.35%
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