U.S. banks have boosted their provisions for credit losses as deteriorating commercial real estate (CRE) loans and high interest rates fuel fears of defaults, the regional lenders’ second-quarter results show. Some, such as M&T Bank (MTB.N), opens new tab, are also […]
SINGAPORE shares opened lower on Thursday (Jul 18), after indices in the US and Europe closed mixed overnight. The Straits Times Index (STI) fell 0.6 per cent or 20.25 points to 3,469.32 as at 9.01 am. Across the broader market, […]
Ping An Insurance (Group), China’s largest insurer by market capitalisation, is turning to the convertible bond market to raise US$3.5 billion, joining a raft of Chinese companies tapping cheaper funding sources amid high interest rates. The bonds, due in 2029, […]
Hong Kong’s government unveiled plans for a multi-tranche sale of green bonds in dollar, euro and offshore yuan currencies and hired banks to organise investor meetings beginning on Tuesday. The bonds, which are expected to be rated AA+ by S&P […]
Discover Financial Services (DFS.N), opens new tab on Wednesday reported a 70% rise in second-quarter profit, as a high-rate environment helped the U.S. credit issuer earn more in interest income. The company’s shares rose 4.7% to $148 in after-hours trading. Credit card-focused […]
London’s Canary Wharf financial district plans to cut chunks out of one of its tallest office towers once banking giant HSBC (HSBA.L), opens new tab moves out, in one of the highest profile redevelopment projects yet to repurpose office buildings since the […]
The pound hit its highest in a year on Wednesday, driven by investors who are scrambling for juicier returns as global interest rates start to fall, but strategists say it will take more than higher rates for sterling to retain […]
The Investec Group CEO Fani Titi’s salary decreased by 30.2% for the 2024 financial year, receiving a single-figure remuneration package of £5.24 million (R120 million). Last month, the group released its financial results for the year ended 31 March 2024. […]
The South African Revenue Service (SARS) is targeting wealthy South Africans, with billionaire Christo Wiese being dealt a massive blow in court. Wiese and three other defendants have lost a legal fight at the Supreme Court of Appeal, and the taxman […]
Honda Motor (7267.T), opens new tab has priced shares in a secondary share sale at 1,664.5 yen each, or a 3% discount to Wednesday’s closing price, valuing the deal at 497 billion yen ($3.16 billion), the automaker said. The amount includes an […]
