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ECB s Kazaks: Support beyond PEPP will be necessary
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10 Central Banks – Where they stand towards normalizing policy
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EUROPEAN MIDDAY BRIEFING: Stocks Skid After Fed Minutes, with Miners Tumbling
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ASIA:
Intel Corp said on Monday its factories will start building Qualcomm Inc chips and laid out a roadmap to expand its new foundry business to catch rivals such as Taiwan Semiconductor Manufacturing Co and Samsung Electronics Co Ltd by 2025. Intel said on Monday it expects to regain its lead by 2025 and described five sets of chipmaking technologies it will roll out over the next four years.
Indian digital payments firm Paytm expects to launch its initial public offering (IPO) at around the end of October, pending regulatory approvals, Reuters reported. Paytm, which has filed for a 166-billion-rupee ($2.2 billion) IPO that will likely be the largest ever in India, also expects to break even in 18 months, the source familiar with the matter said. The startup, which counts China’s Ant Group and Japan’s SoftBank among its backers, narrowed its operating loss to 16.55 billion rupees in the financial year to end-March 2021 from 24.68 billion a year before.
ECB President Christine Lagarde said the current program is expected to last until at least until March 2022
The European Central Bank confirmed its expansive monetary policy this week, in accordance with its recently reviewed inflation target and in a context of growing Covid 19 contagions that threaten recovery.
As expected the ECB kept its main interest rates remain at their lowest level, particularly negative 0,5% for banks deposits in ECB to force private banks to get money circulating. Likewise with the Covid 19 Pandemic Emergency Purchase Program, PEPP launched in March 2020. with 1,85 trillion Euros for the purchase of private and government debt to keep financial conditions fluid.