BlackRock cuts hundreds of jobs, trimming about 1% of staff
BlackRock is cutting hundreds of jobs across the company, becoming the latest Wall Street firm to rein in headcount in recent weeks. The cuts total about 1 per cent of BlackRock’s global…
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Fashion
Major US banks gear up for bond sales as Trump turns up pressure
Wall Street is about to embark on its regular borrowing binge, as it gears up to sell debt soon after posting results. This year there’s a wildcard: US President Donald Trump, who is…
US Fed’s Williams says monetary policy well positioned amid a favourable outlook
He said that it’s critical for the Fed to get inflation back to its 2 per cent target Federal Reserve Bank of New York President John Williams said on Monday he expects a healthy economy…
Meta unveils ‘Meta Compute’ initiative to build AI infrastructure
Big Tech companies are looking to secure long-term electricity supplies as AI and data centres increase US power demand Meta has announced its “Meta Compute” initiative to build artificial…
Citi to cut about 1,000 jobs this week
CITIGROUP is set to cut about 1,000 jobs this week as part of chief executive Jane Fraser’s march to keep a lid on costs and improve returns at the Wall Street bank. The company, which had…
QXO secures US$1.8 billion financing led by Temasek, Apollo amid building products consolidation
[GREENWICH, Connecticut] Billionaire Brad Jacobs’ QXO said it has secured an additional US$1.8 billion in financing, led by Singapore’s Temasek Holdings and Apollo Global Management, as…
Goldman, JPMorgan and UBS lead Golden Goose’s buyout debt
Temasek Holdings will take a minority stake in the Italian high-end sneaker producer Goldman Sachs, Group JPMorgan Chase and UBS Group are leading a debt financing deal backing a Chinese…
StanChart is preparing crypto expansion with prime brokerage
It will house the new business within its wholly owned venture capital unit, SC Ventures Standard Chartered plans to set up a prime brokerage for cryptocurrency trading, sources said, as…
Volkswagen drops to third in China sales as fast-growing Geely Auto pips it
Legacy foreign carmakers such as Volkswagen have ceded share to Chinese rivals due to a slower shift to EVs Volkswagen was overtaken by Geely Auto in sales in China last year, dropping to…
Petronas seeks court clarity on Sarawak operations in gas licensing dispute
Malaysia’s state energy company Petroliam Nasional Berhad (Petronas) said on Monday (Jan 12) it has filed a motion at the country’s top court seeking clarity on the legal and regulatory…
Singapore Exchange proposes bond futures for India, South-east Asia
THE Singapore Exchange (SGX) held multiple calls with treasury officials from global banks about introducing futures tied to some Asian government bond markets, according to people…
British Land CEO Carter set to leave to lead GIC-backed P3 Logistics
British Land CEO Simon Carter plans to step down this year to join European logistics developer P3 Logistics Parks, the real estate group said in a statement on Monday (Jan 12). During…
Thomson Medical appoints Tong Kooi Ong as board chairman
The Malaysian businessman succeeds Ng Ser Miang, who steps down on Jan 31 after a decade Mainboard-listed Thomson Medical Group has appointed Malaysian businessman Tong Kooi Ong as its…
Beijing looms large over Singapore-based Manus’ deal with Meta
The swift scrutiny shows fears Manus’ sale could spur more tech stars to follow the same path It took just 10 days for Meta’s acquisition of Manus to run into Beijing’s cross hairs, months…
UBS rejects proposed Swiss bank rules, moots less costly alternatives
The lender warns the proposal would add huge costs and threaten the continuation of its successful business model UBS on Monday (Jan 12) rejected government proposals to strengthen…
South Korea makes checks on increasing US dollar deposits as won falls
South Korean authorities summoned seven local banks last week to question them about increasing US dollar deposits, officials and bank sources said on Monday (Jan 12), amid growing…
HSBC launches UAE asset management business to tap into wealth influx
The bank has focused its growth efforts on regions such as Asia and the Middle East HSBC is opening an asset management business in the UAE and launching 10 onshore funds, it said on…
Oil edges up as Iran supply risk counters Venezuela export resumption
Oil prices edged higher on Monday (Jan 12) as escalating protests in Iran sparked concerns about supplies from the Opec producer, while efforts to resume oil exports from Venezuela and…
US to host meeting on rare earths as China-Japan spat simmers
The discussions are expected to also include officials from Australia, South Korea, India, Mexico and the European Union THE US will host a gathering of Group of Seven ministers to discuss…
FCC approves SpaceX plan to deploy an additional 7,500 Starlink satellites
The agency is also allowing the company to upgrade the satellites and operate across five frequencies The Federal Communications Commission (FCC) said on Friday (Jan 9) that it has…
Stellantis scraps US plug-in hybrid sales, citing weak demand
The automaker’s pullback comes as Detroit carmakers reassess electric-vehicle spending amid policy changes under US President Donald Trump CHRYSLER parent Stellantis said on Friday (Jan 9)…
OpenAI, SoftBank invest US$1 billion in SB Energy as Stargate buildout expands
The data centre construction boom has also prompted major players, including Meta Platforms OpenAI and SoftBank Group will invest US$500 million each in SB Energy to expand data centre and…
Apple shares on pace to match longest losing streak since 1991
The company and other computer and device makers have been under pressure from rising prices for components such as memory chips Apple shares are on pace to tie their longest losing streak…
ExxonMobil calls Venezuela ‘uninvestable’ as Trump pushes oil plan
Low prices are viewed warily within the oil industry, which the US president is counting on to keep pumping crude Major US oil executives expressed caution about US President Donald…