Finance

• HSBC Moves to Wall Street Bonus Model, Cuts Fixed-Pay Deals
  HSBC Holdings Plc will phase out fixed-pay allowances for its senior staff and instead hand out a greater proportion of its compensation in the form of bonuses, becoming the latest UK lender to switch to Wall Street-style remuneration to better align with performance.
• Hong Kong Summit Is Said to Draw Goldman, HSBC, UBS Chiefs
  Global finance chiefs will convene in Hong Kong in early November, roughly two weeks before US and Chinese leaders meet in Shenzhen in hopes of securing a long-term trade truce.
• UAE Banks Lift Deposit Rates as Credit Surge Squeezes Liquidity
  For years, banks in the United Arab Emirates were flush with cash as a domestic economic boom and geopolitical uncertainty elsewhere drew in strong capital inflows. Now, many are competing more aggressively for new deposits as a lending surge collides with a liquidity squeeze.
• 1MDB Has Proposal for Settlement With Deutsche Bank
  Malaysia’s scandal-hit state fund 1Malaysia Development Bhd. has a proposal for settlement with Deutsche Bank AG in a $1.1 billion lawsuit, marking the latest potential resolution in the country’s long-running effort to recover money linked to the multibillion-dollar fraud.
• Bain’s Bridge Data Centres Seeks to Upsize Loan to $6.6 Billion
  Bain Capital-owned Bridge Data Centres is in talks with banks to more than double the size of an existing loan to about $6.6 billion, people familiar with the matter said, in what would be one of the largest deals for the sector in Asia.
• Tycoon Says Taiwan’s Tech Boom Is Filling Up His Luxury Hotels
  A surge in travel fueled by Taiwan’s AI boom is driving record results at Formosa International Hotels Corp., highlighting the technology sector’s growing impact beyond the island’s chip industry.
• Deutsche Bank CEO Criticizes Pace, Consistency of German Reforms
  Deutsche Bank AG Chief Executive Officer Christian Sewing urged the German government to step up reforms and do more to roll back employment protection in an interview with Bild am Sonntag.
• Codelco Suffers New Fatalities as Avalanche Hits Copper Mine
  Two workers died Sunday after a snow avalanche struck Codelco’s giant El Teniente copper mine in Chile, marking the latest fatal accident to hit the state-owned producer.
• A Higher-Rate World Is in Store as Central Banks Approach 2027
  Global central banks are likely to head into 2027 with even tighter monetary-policy settings to keep inflation at bay.
• Beijing Police Launch Probe Into Wealth Manager CreditEase
  Beijing police opened a criminal investigation into companies affiliated with Chinese wealth management firm CreditEase over suspected illegal financial activities.
• Jarden Hires Two Forsyth Barr Directors in NZ Talent Battle
  Investment firm Jarden has hired two directors from rival Forsyth Barr as the jostling for talent continues to shake up New Zealand’s investment banking market.
• Genting Shares Tumble Most on Record on Rights Issue Plan
  Genting Bhd. shares plunged after the leisure group controlled by Malaysian billionaire Lim Kok Thay announced plans to raise about 1.25 billion ringgit ($306 million) through a renounceable rights issue.
• Bond Selloff May Mean Fewer Rate Hikes From Global Central Banks
  Bond markets are starting to do some of the lifting for central banks around the world by pushing up borrowing costs themselves, potentially reducing the number of benchmark interest-rate hikes needed to get inflation under control.
• US Bond Traders Await CPI, Warsh For Insight on Fed’s Rate Path
  Bond traders are looking to the latest consumer-price inflation figures and a planned appearance by Federal Reserve Chairman Kevin Warsh for insight into how quickly the central bank will continue raising interest rates.