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Banks jumped 0.8%, while oil and gas stocks retreated 1%. European stocks opened mixed on Thursday as global markets react to the U.S. Federal Reserve's latest monetary policy decision and a slew of corporate earnings. Federal Reserve Chair Jerome Powell said it was unlikely that the central bank's next move will be a rate hike. Asia-Pacific markets were mostly higher overnight as traders reacted to the Fed's stance, while U.S. stock futures advanced as investors looked ahead to more corporate earnings due Thursday. Dutch bank ING was 5% higher in early deals after announcing a 2.5 billion euro ($2.7 billion) share buyback.

Persons: Banks, Jerome Powell, It's, Vestas, Hugo Boss Organizations: U.S, U.S . Federal, Dow, region's, Novo Nordisk, Shell, ING, AXA, ArcelorMittal Locations: London, U.S ., Asia, Pacific, Europe

☆ Bitcoin will drop 13% to $50,000 after falling below a key support level as macro drivers slow, Standard Chartered says
▼ + stars: | 2024-05-01 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bitcoin's break below $58,000 on Wednesday clears a path for it to fall as low as $50,000, Standard Chartered said in new research. The crypto's decline has been driven by rising ETF outflows and falling US liquidity levels. AdvertisementDeteriorating conditions are denting the Bitcoin rally, with this week's drop below $60,000 putting it en route for an even lower price range. According to commentary from Standard Chartered, the apex token could temporarily reach as low as $50,000, signaling an over 13% drop from current levels. Among these are shrinking investments in spot bitcoin ETFs, funds that first sparked the rally at the year's start.

Persons: —, Geoff Kendrick, Kendrick, Mike Novogratz, he's Organizations: Chartered, outflows, Service, Standard Chartered, FX Locations: Hong Kong

☆ Bitcoin nosedives below $57,000 to two-month low ahead of U.S. Fed decision
▼ + stars: | 2024-05-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The logo of the cryptocurrency Bitcoin (BTC) can be seen on a coin standing in front of a Bitcoin chart. Bitcoin on Wednesday plunged sharply to its lowest level in over two months amid broader risk-off sentiment in markets, as investors kept an eye on the U.S. Federal Reserve's upcoming interest rate decision. Crypto market participants are eyeing the upcoming interest rate decision from the U.S. Federal Reserve. The Federal Open Market Committee is due to meet on Wednesday afternoon to discuss its latest policy on interest rates. Markets have become more shaky lately, as investors fret over the prospect of a longer path toward interest rate cuts.

Persons: Bitcoin, Jerome Powell, Geoff Kendrick, Kendrick, Changpeng Zhao Organizations: U.S, U.S . Federal, U.S . Federal Reserve Locations: U.S ., CoinGecko, solana, U.S, Hong Kong

☆ Bitcoin losses could steepen after the cryptocurrency breaks below $60,000, analysts say
▼ + stars: | 2024-05-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The bitcoin sell-off could get worse before it gets better, according to analysts who look only at price charts. The downtrend intensified on Wednesday when it tumbled under the $60,000 level for the first time since February, as stubborn inflation and uncertainty around Federal Reserve interest rate policy kept markets under pressure. That was a key support level for bitcoin, representing the approximate convergence of the March low and 100-day moving average, according to Ari Wald, an analyst at Oppenheimer. Wolfe Research's Rob Ginsberg said $60,000 bitcoin looks "vulnerable" and that $50,000 could be in play. Bitcoin traded between $60,000 and $74,000 since mid-March, when the cryptocurrency reached new records and has failed multiple times to break out.

Persons: Ari Wald, Oppenheimer, It's, bitcoin, David Keller, Wald, Keller, Geoff Kendrick, Wolfe, Rob Ginsberg, Bitcoin, —, Michael Bloom, Rob Ginsberg's Organizations: CNBC Locations: U.S

☆ Standard Chartered doubles down on its prediction that bitcoin will reach $150,000 by the end of the year
▼ + stars: | 2024-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Bitcoin is set for more price gains later this year, even after a recent retreat in prices, according to Standard Chartered's top crypto analyst. Geoffrey Kendrick, head of foreign exchange research, West, and digital assets research at Standard Chartered, said in a research note this week that he sees bitcoin rising to $150,000 per coin, and ether hitting $8,000 by the end of 2024 — doubling down on a bullish prediction from the bank earlier this year. Bitcoin temporarily sank below $60,000 last week as traders reacted to news of an escalating military conflict between Iran and Israel. Also, large long liquidations over the past couple of weeks mean that market positioning is a lot cleaner," Kendrick said. "As a result, with Middle East tensions easing I think it is time to re-engage in medium-term longs."

Persons: Geoffrey Kendrick, Kendrick, Bitcoin, bitcoin, That's Organizations: Standard Chartered, BTC, ETH, Securities and Exchange Commission, Treasury, HK Locations: Israel, Iran, United States, U.S

☆ Eco-friendly data centers help drive $6.3 billion of green investment in Southeast Asia, but report shows more needed
▼ + stars: | 2024-04-16 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

The analysis, conducted by Bain & Company, GenZero, Standard Chartered and Temasek, found that $6.3 billion of green investments flowed into the region, representing a 21% year-on-year increase. Last year, Malaysia attracted large-scale green financing of over $500 million for at least two data centers, according to the Monday report. watch nowThe move came after the Singaporean government unveiled a sustainability standard for data centers operating in tropical climates. Despite these efforts, Singapore's overall green investments fell in 2023 to $0.9 billion from $1.2 billion a year prior. Green investment towards power in the region fell by 14% year-over-year for the second year in a row.

Persons: Singapore —, Kimberly Tan, GenZero's Tan Organizations: Istock, Getty, Bain & Company, GenZero, Chartered, International Energy Agency, Singapore Locations: Asia, Temasek, Malaysia, Singapore

☆ South Korea's inflation is 'mostly driven by the supply side,' StanChart says
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth Korea's inflation is 'mostly driven by the supply side,' StanChart saysChong Hoon Park, head of Korea economic research at Standard Chartered Bank, discusses the Bank of Korea's decision to hold interest rates.

Persons: StanChart, Chong Organizations: Standard Chartered Bank, Bank of Locations: Korea

☆ See the pitch deck the ex-CEO of Symphony used to raise $13 million for Hive, a cloud startup taking on tech giants like Amazon and Microsoft
▼ + stars: | 2024-04-03 | by ( Bianca Chan | ) www.businessinsider.com time to read: +4 min

Like many other enterprise companies, Symphony was locked into its cloud providers as its tech stack became increasingly entwined with and dependent on the cloud companies' tools and software. Some of that computing power and storage comes from the major cloud providers themselves, by way of consumer devices, but they can also come from a company's own private cloud, Gurle said. On Wall Street, tech execs constantly look for new ways to keep cloud costs in check. This is reaching new heights thanks to the AI craze, with the construction of data centers wreaking havoc on rural communities. Here's the pitch deck Hive used to raise $13 million.

Persons: David Gurle, Gurle Organizations: Service, Symphony, Wall Street, Amazon Web Services, Google, Business, Oracle Labs, University of California, Hive, SC Ventures, Chartered, French Locations: University of California Berkeley, America

☆ Japan is 'very, very close' to intervening in the yen, strategist says
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan is 'very, very close' to intervening in the yen, strategist saysSteven Englander, head of Global G10 FX research and North America macro strategy at Standard Chartered Bank, says "I think the market wants to push them to show their cards, and I think that they will react aggressively to that, and at some point intervene if it looks as if new highs are being hit."

Persons: Steven Englander Organizations: Japan, Global, Standard Chartered Bank Locations: North America

☆ Standard Chartered says Japan 'very, very close' to yen intervention
▼ + stars: | 2024-03-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

Japan is "very, very close" to intervening in the yen, Steven Englander, head of Global G10 FX research and North America macro strategy at Standard Chartered Bank, told CNBC as the currency languishes at multi-decade lows. "I think we're actually very, very close to them [Japanese authorities] jumping in ... they've already discussed the political consequences and nobody's sitting there asking for a weaker yen," Englander told CNBC's "Squawk Box Asia" on Thursday. The Japanese yen traded around 151.47 against the U.S. dollar on Thursday after falling to its weakest level in 34 years at 151.97 in the previous session. Standard Chartered's Englander said potential intervention in the yen would be aimed at buying time for Japanese authorities until the U.S. Federal Reserve starts cutting interest rates or until the Bank of Japan hikes its rates a little more. He further noted that when Japanese authorities last intervened in the yen in 2022, it "worked out pretty well," even though investors were initially skeptical of the effectiveness of such currency intervention.

Persons: Steven Englander, they've, nobody's, Englander, CNBC's, Shunichi Suzuki, Masato Kanda, Yoshimasa Hayashi Organizations: Global, Standard Chartered Bank, CNBC, U.S, Reuters, U.S . Federal Reserve, Bank of Japan Locations: Japan, North America, .

☆ StanChart CEO Winters meets China FX regulator, launches investment banking unit
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: +2 min

Standard Chartered CEO Bill Winters met with the head of China's foreign exchange regulator on Monday, a month after the bank suspended new investments by its clients in the country into offshore products via a quota-based channel. "We have confidence in China's continued financial sector opening and economic transition," Winters said. "The inauguration of SCSCL will enhance Standard Chartered's ability to serve clients domestically and internationally, deepening and diversifying our capabilities in China". StanChart started hiring staff in China since 2023 as it geared up to launch the investment banking unit targeting niche bond deals, chairman of the unit said last year. Blackstone's Schwarzman held a meeting on Monday with the chief secretary of Communist Party of China, Cai Qi, a statement from China's Ministry of Foreign Affairs shows.

Persons: Bill Winters, Winters, Zhu Hexin, StanChart, Zhu, China's, StanChart's Winters, Noel Quinn, Blackstone's Schwarzman, Cai Qi, Cai Organizations: China's, Administration of Foreign Exchange, SAFE, Standard Chartered Securities China, China Development, Communist Party of China, China's Ministry of Foreign Affairs Locations: London, China, U.S, Los Angeles

☆ Strategist discusses outlook for interest rate cuts, inflation figures
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets enthusiastic about rate cuts despite modest disappointment in inflation data: StrategistSteve Englander, global head of research and chief strategist at Standard Chartered, discusses why the Federal Reserve will want to cut interest rates this year despite continued inflationary pressures.

Persons: Steve Englander Organizations: Standard Chartered, Federal Reserve

☆ Bitcoin could soar 266% to $250,000 next year if ETF inflows stay strong, Standard Chartered says
▼ + stars: | 2024-03-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Bitcoin could reach $250,000 in 2025, Standard Chartered's Geoff Kendrick predicted. That's as long as spot ETF inflows remain strong, and reserve managers begin buying crypto. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBitcoin could surge to as high as $250,000 in 2025, propelled by the success of spot ETFs and growing interest from reserve managers, Standard Chartered's Geoff Kendrick forecast in a note on Monday. Such a stellar rise is likely if fund inflows remain as strong as they are, the firm said.

Persons: Geoff Kendrick, That's, —, Bitcoin Organizations: Service, FX, Business

☆ Bitcoin to rally to $150,000 this year and could touch $250,000 in 2025, Standard Chartered says
▼ + stars: | 2024-03-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The excitement around the arrival of bitcoin ETFs and the subsequent surge to new highs for the cryptocurrency is making even bitcoin bulls raise their expectations. "We raise our long-held price estimate to the USD 150,000 level from USD 100,000 given the more rapid pass-through from ETF inflows to the BTC price to date," the note said. The new bitcoin ETFs have pulled in billions of dollars from investors since their January launch, even with the Grayscale Bitcoin Trust seeing heavy outflows. The iShares Bitcoin Trust (IBIT) has raked in more than $12 billion on its own, according to FactSet. The quick growth of the bitcoin ETFs has boosted confidence that there are more investors interested in crypto who have been reluctant to buy it through crypto exchanges.

Persons: Geoff Kendrick, Kendrick Organizations: BTC, Metrics, bitcoin Locations: Bitcoin

“If you have minerals or oil under the ground, how do you come up with a price for a long-term contract? The shift to renewable energy and electric vehicles has caused a spike in the demand for critical minerals, driving these kind of loans. Adesina, whose Abidjan, Ivory Coast-based institution helps finance development in African countries, said these arrangements come with a litany of problems. Photos You Should See View All 60 Images“These are the reasons I say Africa should put an end to natural resource-backed loans," Adesina said. After Chad, Angola and the Republic of Congo approached the IMF for support, the multilateral lender insisted on the renegotiation of their natural resource-backed loans.

Persons: Akinwumi Adesina, paydowns, Adesina, ” Adesina, Glencore, Trafigura, ”, Mao Ning Organizations: African Development Bank, Associated Press, International Monetary Fund, IMF, Chartered, China’s Ministry of Foreign Affairs, China Railway Group, Gecamines, Alliance for Green Infrastructure Locations: Lagos, NIGERIA, China, Congo, Nigeria, Abidjan, Ivory Coast, Africa, Chad, Angola, Republic of Congo, Guinea, Ghana, Beijing, Nigerian, AP.org

☆ StanChart strategist discusses China's CPI target, inflation outlook
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Quite unlikely' that China will hit its CPI inflation target of 3% this year: StanChart strategistBecky Liu, head of China macro strategy at Standard Chartered, says "our forecast for CPI inflation is only averaging 0.5% in 2024."

Persons: Becky Liu Organizations: Standard Chartered Locations: China

☆ The majority of altcoins launched since 2020 are dead, but bitcoin's latest rally could spark a revival
▼ + stars: | 2024-03-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

72% of crypto projects have died since 2020, a report from Alphaquest and Storible said. On Friday, crypto market capitalization hit a record high of $2.58 trillion. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Since 2020, 72% of crypto projects have died, according to a report published by Alphaquest and Storible. On Friday, the crypto market hit a new record, with capitalization reaching $2.58 trillion, Kuptsikevich wrote in a market update.

Persons: Storible, —, Alphaquest, FTX's, bitcoin, Geoff Kendrick, Alexander Kuptsikevich, Liquid Investments Seth Ginns, Kuptsikevich, Kendrick Organizations: Service, Standard, BTC, Business, CoinFund, Liquid Investments Locations: Alphaquest, altcoins

☆ Two crypto experts debate the bull and bear cases for bitcoin
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo crypto experts debate the bull and bear cases for bitcoinGeoffrey Kendrick, Head of Crypto Research at Standard Chartered Bank, and David Tice, Chief Investment Officer at Ranger Equity Bear ETF, debate the outlook for bitcoin amid its year-to-date rally.

Persons: Geoffrey Kendrick, Head, David Tice Organizations: Crypto, Standard Chartered Bank, Equity Bear

☆ Bank CEO shrugs off U.S. war on 'woke' capital, says ESG investing is good for business
▼ + stars: | 2024-02-27 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Bill Winters, Chief Executive Officer at the Standard Chartered Bank, attends a panel session of the World Governments Summit in Dubai on February 12, 2024. Ryan Lim | Afp | Getty ImagesStandard Chartered chief executive Bill Winters says environmentally conscious investing can be good for business, dismissing the impact of a U.S. crusade against mission-driven investments. In the United States, for example, Republican lawmakers have decried ESG as a form "woke capitalism" that seeks to prioritize liberal goals over investment returns. But one of the stats that I love is the biggest renewable power center in the United States is the state of Texas, right? Signage atop the Standard Chartered Plc headquarters building, center, in Hong Kong, China, on Monday, Feb. 19, 2024.

Persons: Bill Winters, Ryan Lim, ESG, Winters, CNBC's, — Organizations: Standard Chartered Bank, World Governments, Afp, Getty, Standard, Democratic, Chartered Plc, Bloomberg Locations: Dubai, U.S, United States, Texas, Hong Kong, China

☆ Standard Chartered suspends key outbound investment channel for Chinese clients
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Standard Chartered has suspended new subscriptions by its clients in China into offshore products via a quota-based channel since last week, the Asia-focused bank said in a statement to Reuters. The London-headquartered bank cited "commercial reasons" as its explanation for the suspension of new investments under the qualified domestic institutional investor (QDII) program. It did not elaborate. StanChart's move comes amid Beijing's efforts to stem capital outflows as weaker yuan and a slowing economy have driven savers to move assets offshore. Launched in 2006, QDII is one of the few outbound investment channels qualified domestic and foreign institutions use to help Chinese wealth and corporate clients invest in offshore funds, bonds and other structured products.

Persons: QDII Organizations: Chartered, Reuters Locations: China, Asia, London

☆ StanChart announces $1 billion share buyback, dividend hike as 2023 profit rises 18%
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +1 min

Standard Chartered on Friday reported 2023 pre-tax profit rose 18%, in line with forecasts, and rewarded shareholders with a $1 billion share buyback and a jump in dividend. StanChart , which earns most of its revenue in Asia, said statutory pretax profit for 2023 reached $5.09 billion, in line with $5.1 billion from 15 analyst estimates compiled by the bank. A fresh $150 million writedown of its stake in Bohai Bank, following a $700 million hit earlier this year, reduced its value to $700 million from $1.5 billion at the start of the year. StanChart said banking industry challenges and the uncertainty swirling around the property market were to blame for the decline in the stake's current value. The London-headquartered lender also announced a final dividend of $560 million or 21 cents per share, resulting in a 50% increase of full year dividend payout to 27 cents, greater than a consensus view of 23.7 cents.

Persons: StanChart Organizations: Bohai Bank Locations: Asia, Bohai, China, Bohai Bank, London

☆ StanChart lowers income target as China weighs, launches $1 billion buyback
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +2 min

Standard Chartered on Friday rewarded shareholders with dividends and a fresh $1 billion buyback as profit rose 18%, but set out modest growth forecasts that will concern investors amid worries about global banks' exposure to China. The bank reported 2023 statutory pre-tax profit rose to $5.09 billion, in line with forecasts, and announced a jump in dividends alongside the buyback. The lender booked 13% income growth in 2023 in constant currency terms. A fresh $150 million writedown of its stake in Bohai Bank, following a $700 million hit earlier this year, reduced its value to $700 million from $1.5 billion at the start of the year. That brought total provisions for its China real estate exposure to $1.2 billion in the last 3 years.

Persons: StanChart Organizations: Bohai Bank, HSBC, Wednesday, British Locations: China, Asia, Bohai, Bohai Bank

☆ European markets set to open mixed after Stoxx 600 closes at all-time high
▼ + stars: | 2024-02-23 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

European stocks looked set to open mixed Friday, shaking some positive momentum after the pan-European benchmark closed at a record high in the previous session. The Stoxx 600 index ended the session 0.82% higher at 495.1 Thursday, surpassing its previous record close of 494.35 on Jan. 5, 2022, LSEG data showed. Investors will digest earnings from Allianz, BASF and Standard Chartered on Friday, while fourth-quarter gross domestic product data is due from Germany. In Asia-Pacific, markets were mostly higher Friday, with China stocks rising for the ninth straight session as investors digested property prices data. The CSI 300 index was flat by midday trading after rising about 0.4% at the open, while Hong Kong's Hang Seng index dipped 0.2%.

Persons: Hong Organizations: Allianz, BASF, Standard Chartered, Nasdaq Locations: Germany, GfK, Asia, Pacific, China

☆ Standard Chartered CEO reports 'very good growth' in China despite slowing growth
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStandard Chartered CEO reports 'very good growth' in China despite slowing growthBill Winters, CEO of Standard Chartered, discusses the bank's earnings, its share buyback plans, the outlook for China and the possibility of a Donald Trump second term.

Persons: Bill Winters, Donald Trump Organizations: Standard Chartered Locations: China

☆ HSBC 2023 results: $3 billion China writedown hits annual profit
▼ + stars: | 2024-02-21 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Of the total, $3 billion was related to BoCom, one of China’s biggest banks, while $2 billion was from selling its retail banking business in France. Separately, HSBC made $3.4 billion in provisions to cover expected credit losses and other charges related to its exposure to the commercial real estate sector in mainland China. The property market has since entered a prolonged slump, marked by an ongoing decline in real estate investment and sales of property. The charges reported by HSBC cast a shadow over its record annual profit, which came in at $30.3 billion, up 78% from 2022. In October, rival Standard Chartered reported a $186 million credit impairment charge related to commercial real estate in the country.

Persons: “, Matt Britzman, Hargreaves Lansdown, Mark Tucker, — Hanna Ziady Organizations: Hong Kong CNN — HSBC, China’s Bank of Communications, HSBC, HSBC isn’t, Chartered Locations: China, Hong Kong, Asia, France, BoCom, Mainland China

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