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LONDON, Oct 5 (Reuters) – Financial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network following an 8-month experiment on different technologies and currencies.

The trial, which involved France and Germany’s national central banks as well as global lenders like HSBC, Standard Chartered and UBS, looked at how CBDCs could be used internationally and even converted into fiat money if needed.

Full coverage: REUTERS

Taiwan Vows To Protect Its Firms’ Interests At U.S. – Led ‘Chip 4’ Group

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TAIPEI, Oct 5 (Reuters) – Taiwan will use the new U.S.-led “Chip 4” group to safeguard the interests of Taiwanese companies and to ensure supply chain resilience, a deputy minister said on Wednesday, though he added that the group had no agenda yet.

A preliminary meeting of the group took place last week with representatives from Taiwan, the United States, South Korea and Japan attending.

A global semiconductor shortage has thrust chip powerhouse Taiwan into the spotlight and made supply chain management a bigger priority for governments around the world.

Full coverage: REUTERS

Banks Financing Musk’s Twitter Deal Face Hefty Losses

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Oct 5 (Reuters) – Elon Musk’s U-turn on buying Twitter Inc (TWTR.N) could not have come at a worse time for the banks funding a large portion of the $44 billion deal and they could be facing significant losses.

As in any large acquisition, banks would look to sell the debt to get it off their books. But investors have lost their appetite for riskier debt such as leveraged loans, spooked by rapid interest rate hikes around the world, fears of recession and market volatility driven by Russia’s invasion of Ukraine.

Full coverage: REUTERS

Asian Stocks Strengthen But Futures Show Bounce Could Be Short Lived

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HONG KONG, Oct 5 (Reuters) – Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressures in some major world economies.

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 2.3%, after U.S. stocks ended the previous session with gains. The index is up 1.4% so far this month.

Full coverage: REUTERS

Morning Bid: Retweet Or Like?

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A look at the day ahead in European and global markets from Ankur Banerjee:

Elon Musk has had another change of heart and wants to proceed with his $44 billion bid to take Twitter Inc (TWTR.N) private, while an OPEC+ plan for a deep cut to global oil supplies has added to gloom in financial markets.

That’s more chaos and confusion for a market already frustrated by the missteps of Britain’s new government and more gossip about embattled Swiss bank Credit Suisse (CSGN.S). Yet stock markets are up, the dollar is down and investors are latching on to some signs that global monetary hawkishness may have peaked.

Full coverage: REUTERS