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South Korea has imposed fines on JPMorgan, Nomura, UBS, and Morgan Stanley for violations related to short selling. Morgan Stanley's revenue breakdown reveals that corporate and investment banking accounts for 42.2%, wealth management 48%, and asset management 9.8%, with $1,459 billion in assets under management as of 2023. Geographically, 76.9% of revenues come from the Americas, while Asia and Europe-Middle East-Africa contribute 11.9% and 11.2%, respectively.
The Union Budget 2025 raised the income tax exemption limit to ₹12 lakh, exceeding expectations, but fell short on capital expenditure, which was only increased by 10.1% YoY. Market reactions were mixed, with the Nifty 50 dropping slightly while the Nifty Smallcap 100 rose. Analysts noted a balance between stimulating growth and maintaining fiscal discipline, with optimism for consumption boosts despite concerns over reduced infrastructure spending.
BNP Paribas has announced that no stabilisation was carried out for the EUR 300 million offer of 8.625% fixed notes due 2030 from Engineering Ingegneria Informatica S.p.A. The securities are not registered under the U.S. Securities Act and cannot be offered or sold in the U.S. without registration or an exemption.
JP Morgan and UBS have emerged as the leading financial advisers for mergers and acquisitions in the Asia-Pacific region for 2024, topping the rankings by value and volume, respectively. JP Morgan advised on deals worth $31.5 billion, while UBS led with 40 transactions, including seven billion-dollar deals, securing a total deal value of $21.1 billion. Moelis & Company and Morgan Stanley followed in the rankings, highlighting a competitive landscape in M&A advisory services.
Germane Wee, a former leader at BNP Paribas Wealth Management, has joined Nomura as Team Head for Southeast Asia, bringing her team with her. Based in Singapore, Wee has nearly five years of experience at BNP Paribas and has held senior roles at Credit Suisse, DBS, and UOB. This move follows Nomura's recent appointment of Sudhir Nemali as COO of its international Wealth Management unit.
Wall Street is on edge as the upcoming December US employment report could impact stock market stability amid inflation concerns. Economists forecast non-farm payrolls to rise by 165,000, while Bloomberg Economics anticipates a higher figure of 268,000, and Nomura Securities estimates 180,000 based on various indicators. The unemployment rate is expected to remain steady at 4.2%.
Inventurus Knowledge Solutions has set a price band of Rs 1,265-1,329 per share for its IPO, with anchor investor bidding starting on December 11. The allotment will be finalized by December 15, and the stock is expected to list on exchanges on December 19. This IPO is a pure offer-for-sale, with existing promoters and shareholders selling shares worth up to Rs 2,497 crore, leading to a projected market capitalization of approximately Rs 22,802 crore at the upper price band.
Indian bond yields have decreased by 12 basis points over the past week, reflecting optimism for potential interest rate and cash reserve ratio (CRR) cuts by the Reserve Bank of India (RBI). Nomura anticipates a 25 basis point reduction in the repo rate and a 50 basis point cut in CRR in December, driven by a slowdown in GDP growth to 6.7% in the September quarter, down from 8.1% a year earlier. The 10-year benchmark bond yields have also shown a decline, indicating market expectations for monetary easing.
Indian equity markets rallied significantly on December 6, 2024, with the BSE Sensex climbing over 800 points to close at 81,765 and the NSE Nifty rising more than 240 points above 24,700, fueled by global optimism and strong FII inflows of Rs 8,540 crore.Economist Aurodeep Nandi from Nomura predicts a 25 basis point repo rate cut and a 50 basis point CRR cut, highlighting concerns over cyclical slowdown and the potential impact of lower credit growth on domestic demand, urging for increased government spending to meet targets.
Nomura maintains its prediction that the Reserve Bank of India will cut interest rates by 25 basis points, despite concerns over rupee weakness and rising inflation. While retail inflation has exceeded the RBI's tolerance limit, Nomura highlights that price increases are concentrated in specific items, with overall inflation remaining subdued.
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south korea fines major banks for short selling violations
06:00 13.02.2025
Union Budget 2025 Balances Tax Cuts and Fiscal Discipline Amid Market Concerns
13:11 01.02.2025
engineering ingegneria informatica announces no stabilisation for new securities issue
10:17 31.01.2025
jp morgan and ubs dominate asia pacific m a advisory rankings 2024
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