HALISTER1: MORE: Singapore Court Extends Ex-BSI Banker Yeo’s Detention

MORE: Singapore Court Extends Ex-BSI Banker Yeo’s Detention

(Bloomberg) -- Philip Fong, lawyer for ex-BSI SA private banker Yeo Jiawei, objects to further remand, says client should be allowed to start preparing his defense.
  • Lawyer says investigators should have extracted all relevant information from Yeo by now
  • NOTE: Yeo faces seven charges, including money laundering and cheating his former employer, arising from a 1MDB- related probe FIFW NSN O726QM6KLVRT
Story Link: NSN O7EZSI6JIJV1
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BBTG11 BZ (BTG Pactual Group)
0206021D MK (1Malaysia Development Bhd)

People
Yeo Jiawei (BSI Bank Ltd)

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HALISTER: China Internet Titans Look to Hip-Hop, Wingsuits in VR Spending

China Internet Titans Look to Hip-Hop, Wingsuits in VR Spending

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
FB US (Facebook Inc)

People
Andrew Ng (Baidu Inc)
Jack Ma (Alibaba Group Holding Ltd)
Jules Verne
Ma Huateng (Tencent Holdings Ltd)
Mark Zuckerberg (Facebook Inc)

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UUID: 7947283

HALISTER: China Internet Titans Look to Hip-Hop, Wingsuits in VR Spending

China Internet Titans Look to Hip-Hop, Wingsuits in VR Spending

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
FB US (Facebook Inc)

People
Andrew Ng (Baidu Inc)
Jack Ma (Alibaba Group Holding Ltd)
Jules Verne
Ma Huateng (Tencent Holdings Ltd)
Mark Zuckerberg (Facebook Inc)

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UUID: 7947283

HALISTER: Bayer Eyes $42 Billion Monsanto for Seeds Dominance (CORRECT)

Bayer Eyes $42 Billion Monsanto for Seeds Dominance (CORRECT)

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BAYN GR (Bayer AG)
MON US (Monsanto Co)

People
Bankhaus Lampe Zam (Bankhaus Lampe KG)
Marijn Dekkers (Bayer AG)
Volker Braun (Bankhaus Lampe KG)
Werner Baumann (Bayer AG)

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UUID: 7947283

HALISTER: Trading Floors ‘Quiet’ as Revenue to Drop Again, JPMorgan Says

Trading Floors ‘Quiet’ as Revenue to Drop Again, JPMorgan Says

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BARC LN (Barclays PLC)
CSGN VX (Credit Suisse Group AG)
UBSG VX (UBS Group AG)
DBK GR (Deutsche Bank AG)

People
Kian Abouhossein (JP Morgan Securities PLC)
Tidjane Thiam (Credit Suisse Group AG)

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UUID: 7947283

HALISTER1: Yuan Seen Weakening If Pace Doesn’t Destabilize Markets: CS

Yuan Seen Weakening If Pace Doesn’t Destabilize Markets: CS

(Bloomberg) -- Chinese govt will be happy to engineer some depreciation of CNY REER, even if USD/CNY rises, providing it does not destabilize markets, Credit Suisse analysts, led by Ray Farris, write in note today.
  • CS now sees USD/CNY at 6.59 in 3-months vs 6.43 previously; at 6.75 in 12-months vs 6.65 prior
  • PBOC seen continuing to test market’s tolerance for yuan weakness vs dollar
    • Yet, “everyone we met in Beijing last week argued that another devaluation was unlikely,” says Farris
    • Recent policy statement by an “authoritative figure” in the Peoples’ Daily on May 9 clearly argued exchange rate was not a tool for reflation of economy
  • China’s government seems highly focused on maintaining stability in the economy and financial markets
  • If higher USD/CNY daily parity settings were to produce an onshore run on yuan, govt is expected to respond by pausing or reversing the move
  • USD/CNY up 0.07% to 6.5442
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Ray Farris (Credit Suisse Group AG)

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UUID: 7947283