BlackRock to run US$80 billion for Citi as bank refocuses wealth unit
The move highlights a growing trend among big banks to partner with specialist asset managers Citigroup said on Thursday (Sep 4) it will transfer about US$80 billion in client…
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Hitachi to invest US$1 billion to produce power grid components in US
Hitachi plans to invest US$1 billion to expand its US power grid infrastructure manufacturing, its energy unit said on Thursday (Sep 4), as the country faces record electricity demand from…
Pertamina seeks US$2.5 billion loan as Indonesia dollar deals rise
The nation’s markets are just recovering after the social unrest, which has subsided, sparked a sell-off in stocks and bonds Indonesia’s state-owned oil giant Pertamina is seeking…
Instagram-style Xiaohongshu hits US$31 billion value in GSR books
XIAOHONGSHU’S valuation surged 19 per cent to US$31 billion in just three months during recent transactions via a major fund, underscoring the intense investor demand for a…
Trump’s oldest sons’ American Bitcoin stake worth US$1.5 billion in stock debut
A bitcoin company tied to US President Donald Trump’s two oldest sons more than doubled in value in its stock market debut on Wednesday (Sep 3), valuing the sons’ stake at well over US$1.5…
Taylor Swift’s UK Tour Pushes Live Music Spending to Record High of $8.9 Billion
The UK’s live music industry has bounced back from pandemic lows in a big way, according to a new report released Tuesday by the trade group Live music Industry Venues and Entertainment…
Grab’s $20 billion playbook for becoming a super app
Grab is a rideshare service-turned superapp, not available in the U.S. but rapidly growing in Southeast Asia. It’s even outmaneuvered global players like Uber to reach a valuation north of…
BlackRock loses US$17 billion mandate at Dutch pension fund PFZW
BlackRock has lost a mandate worth US$17 billion with one of the largest pension funds in the Netherlands, amid concerns the world’s biggest money manager isn’t acting in the best…
EV maker Nio posts 0.3% wider Q2 net loss of 5.1 billion yuan despite top-line growth
Chinese electric vehicle (EV) maker Nio recorded a net loss of 5.1 billion yuan (S$928.4 million) for its second quarter ended Jun 30, 2025. This marked a 0.3 per cent deepening of its net…
Anthropic more than doubles its valuation to $183 billion after raising $13 billion
Artificial-intelligence company Anthropic said on Tuesday it is now valued at $183 billion post-money, over twice as much as its earlier valuation, as investor enthusiasm towards AI…
MUFG to launch 100 billion yen Japan real estate fund
Mitsubishi UFJ Financial Group (MUFG) plans to launch a 100 billion yen (S$870 million) fund to invest in Japanese real estate, an executive at the country’s largest banking group told…
Amazon to invest NZ$7.5 billion in New Zealand data centres
Amazon has formally launched cloud services in New Zealand, dusting off a plan first announced in 2021 to invest more than NZ$7.5 billion (S$5.7 billion) in data centres in the South…
Revolut begins secondary share sale at US$75 billion valuation
The deal will cement the company’s status as one of the most valuable fintechs on the planet Revolut has kicked off a process for some employees to sell their shares in the company…
China Summer Box Office Climbs to $1.6 Billion, Maoyan Reports
China’s 2025 summer box office season generated RMB11.97 billion ($1.67 billion), up 2.7% from last year, with admissions reaching 321 million — the second-highest in five years, according…
‘Nikko’ cut from new name of US$260 billion Japanese asset manager
Nikko Asset Management is changing its name to Amova Asset Management, removing “Nikko” for the first time since it was founded in 1959 in a sign the company is willing to leave…
White House to slash $4.9 billion in foreign aid identified as 'wasteful'
President Trump is slashing $4.9 billion in congressionally approved foreign aid funding through a rarely-used budgetary maneuver known as pocket rescissions, an administration official…
Intel has received the $5.7 billion under Trump’s investment deal
Intel received the $5.7 billion in cash on Wednesday night as part of the deal U.S. President Donald Trump negotiated for a 10% stake in the struggling chipmaker, finance chief David…
Mystery surrounds $1.2 billion Army contract to build huge detention tent camp in Texas desert
When President Donald Trump's administration last month awarded a contract worth up to $1.2 billion to build and operate what it says will become the nation's largest immigration detention…
GLP secures up to US$1.5 billion investment from Adia unit
Global logistics builder and investor GLP has secured up to US$1.5 billion of investment from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (Adia) to back its next growth…
Google to invest additional US$9 billion in Virginia data centres
Alphabet’s Google is investing an additional US$9 billion in Virginia till 2026 to enhance cloud and artificial intelligence (AI) infrastructure across the state, marking the latest in a…
TikTok owner ByteDance sets valuation at over US$330 billion as revenue grows: sources
ByteDance, the owner of short-video app TikTok, is set to launch a new employee share buyback that will value the Chinese technology giant at more than US$330 billion, driven by continued…
Trump asks Supreme Court to block $12 billion in foreign assistance
The administration rushed to the Supreme Court on Wednesday seeking a reprieve from lower court proceedings that, if left unchecked, would force President Trump to spend $12 billion in…
CapitaLand Ascott Trust acquires three rental housing properties in Japan for 4 billion yen
CapitaLand Ascott Trust (Clas) has acquired three rental housing properties in Japan for a total of 4 billion yen, said managers of the real estate investment trust (Reit) on Wednesday…
Russians hoard record US$500 billion in banks lured by high rates
Russian households have amassed a record amount of bank deposits as they take advantage of historically high interest rates for savings accounts in the wartime economy. Deposits held by…