Business
Standard Chartered Bank faces US$2.7 billion lawsuit over alleged role in 1MDB fraud
The move is the latest in a wide-ranging effort to recover money belonging to 1Malaysia Development Berhad — Liquidators seeking to recoup…
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Business
Standard Chartered faces US$2.7 billion lawsuit over alleged role in 1MDB fraud; bank ‘emphatically rejects’ claims
Liquidators seeking to recoup misappropriated funds from Malaysia’s sovereign wealth fund 1Malaysia Development Berhad (1MDB) have…
Business
China raises quota for foreign investment, ending 13-month pause
The QDII programme allows local institutional investors who meet certain conditions to buy foreign securities, bonds, and commodities…
Business
Landmark EU tech rules holding back innovation, Google says
Alphabet’s Google will on Tuesday warn EU antitrust regulators and its critics that landmark European Union rules aimed at reining in Big…
Business
Chinese automakers grab record hybrid market share in Europe
Chinese automakers continued to expand their European foothold in May, capturing the highest share ever of hybrid-car sales and the…
Business
Chinese money fires up Hong Kong shares
[SHANGHAI/HONG KONG] Chinese investors are piling into Hong Kong shares lured by lower valuations and the city’s strategic position in…
Business
Max-Hervé George: From French Prodigy to Architect of a €10 Billion Investment Platform
At 36 years old, Metz-born Max-Hervé George already straddles two worlds many financiers never bridge: the gilded circles of luxury…
Business
Asia: Stocks rise on trade deal hopes, Tokyo hit by tariff warning
Asian stocks rose on Tuesday amid optimism countries will strike US trade deals, though Tokyo’s Nikkei sank after Donald Trump threatened…
Business
Three senior Mizuho FX/rates traders exit in Singapore, London
Three senior executives have left Mizuho Financial Group’s foreign-exchange and rates trading teams in Singapore and London, according to…
Business
KKR starts financial advisory platform to widen choices for Singapore consumers
Global asset manager KKR has started a platform for financial advisory (FA) firms that will give customer more choices. Launched on…
Business
PwC Singapore appoints 11 new partners across different practices
PwC Singapore has named 11 new partners across its assurance, tax, deals and consulting practices, as the accounting firm responds to…
Business
Shell-led LNG Canada ships first cargo to meet Asian demand
Shell has started exports from Canada’s first liquefied natural gas (LNG) project, helping to meet rising Asian demand and extending its…
Business
South Korea wealth fund to boost bets on AI startups, eyes China tech
South Korea’s sovereign wealth fund plans to increase allocations to tech startups and venture capital funds (VCs) as part of its broader…
Business
Gold rises on weaker US dollar as markets await Fed rate-cut clues
Gold prices rose on Tuesday (Jul 1), supported by a weaker US dollar, as investors awaited labour market data due later this week to…
Business
Circle applies for US trust bank license after bumper IPO
Stablecoin firm Circle is applying to create a national trust bank in the US, a major move after its blockbuster initial public offering…
Business
Stocks to watch: CDL, UMS Integration, Capital World
The following companies saw new developments that may affect trading of their securities on Tuesday (Jul 1): City Developments Ltd (CDL):…
Business
Nissan seeks to delay supplier payments to free up cash, company emails show
Nissan Motor has asked some suppliers to allow it to delay payments to free up short-term funds, according to several emails and a company…
Business
Struggling semiconductor firm Wolfspeed files for bankruptcy
Wolfspeed, a chipmaker caught in US President Donald Trump’s push to reshape Biden-era tech subsidies, filed bankruptcy to enact a…
Business
Zuckerberg debuts Meta ‘superintelligence’ group, more hires
Meta Platforms chief executive officer Mark Zuckerberg announced a major restructuring of the company’s artificial intelligence (AI)…
Business
Apple weighs using Anthropic or OpenAI to power Siri in major reversal
Apple is considering using artificial intelligence (AI) technology from Anthropic PBC or OpenAI to power a new version of Siri, sidelining…
Business
Robinhood launches tokens allowing EU users to trade in US stocks
Robinhood said on Monday (Jun 30) it has launched tokens that will allow its customers in the European Union to trade more than 200 US…
Business
Oil edges down on easing Middle East risks but gains for a second month
Oil prices edged down on Monday as investors weighed easing Middle East risks and a possible Opec+ output increase in August. Both Brent…
Business
Europe: Shares see monthly declines as markets eye trade developments
EUROPEAN stocks ended lower in broad-based declines on Monday, closing out June with monthly losses as investors monitored for signs of…
Business
US: S&P 500, Nasdaq end at records, adding to big quarterly gains
Wall Street stocks rose again on Monday amid optimism over trade negotiations and US tax cut legislation to conclude the final session of…