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August 21st - Despite a slight decrease in the UK governments budget deficit in the first four months of the current fiscal year, borrowing in July was still higher than the same period last year due to increased spending exceeding record income tax revenue. The UK Office for National Statistics said on Friday that the governments budget deficit was £1.8 billion (approximately $2.45 billion), an increase of £700 million from July 2025. So far this fiscal year, total government borrowing has reached £56.7 billion, a decrease of £6 billion from the same period last year, but £2.3 billion higher than the forecast published by the Office for Budget Responsibility.Uruguayan Deputy Foreign Minister: If Netanyahu visits Uruguay, we have an obligation to arrest him. We will abide by international commitments, and there is no doubt about that.In a phone call, the foreign ministers of Iraq and Switzerland emphasized the importance of launching international initiatives to help end the conflict and bring Iran and the United States back to the negotiating table.On August 21, Nomura issued a research report stating that Kuaishous (01024.HK) second-quarter results met expectations, but the slowdown in its core businesses (e-commerce and live streaming) was faster than anticipated. Therefore, the bank maintained its "Neutral" rating but lowered its target price from HK$51 to HK$40.European stock index futures were mostly stable, with the Euro Stoxx 50 futures essentially unchanged, the German DAX futures down 0.04%, the French CAC 40 futures up 0.17%, and the UK FTSE 100 futures essentially unchanged.

According to a spokeswoman, RBC cuts ten investment banking jobs in the US

Skylar Williams

Sep 30, 2022 10:55

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According to an email sent by a bank official on Thursday, Royal Bank of Canada (RBC) cut approximately ten positions last week in its U.S. investment banking office.


According to a spokesman for the U.S. capital markets division, the layoffs, which account for 1% of its U.S. investment banking business, were consistent with "normal attrition."


The capital markets division of Canada's largest bank, RBC, reported a 58% decrease in net income to C$479 million ($350 million) in the third quarter, mostly owing to loan underwriting markdowns of C$385 million in the United States.


RBC's U.S. business consists of retail banking, capital markets, wealth management, treasury services, and wealth management.


Bank of Montreal has also laid off personnel from its U.S. capital markets division, a spokeswoman for the bank said earlier this month, without providing any details.


Rising interest rates in the United States. The efforts of the United States The actions taken by the U.S. Federal Reserve to rein in out-of-control inflation have rocked the global financial markets, depressing the appetite of corporations for mergers and making them apprehensive of stock and debt offers.


Goldman Sachs Group Inc (NYSE:GS) warned in July that it may limit employment and slash spending if the economic outlook worsened.

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