HSBC is bullish on 2025 despite hit from Madoff provision
[LONDON] HSBC Holdings raised its profitability outlook for 2025 even as earnings slid following an unexpected US$1.1 billion provision tied to Bernard Madoff’s giant fraud case more than a decade ago. Pretax profit for the third-quarter fell 14 per cent to US$7.3 billion as litigation expenses blunted rising earnings from its key wealth management business,…
Read MoreCitigroup to tie up with Coinbase to boost digital payments for institutional clients
[BENGALURU] Citigroup and cryptocurrency exchange Coinbase plan to collaborate on digital asset payment solutions for the US bank’s institutional clients, to expand the offering to global clients in the future. The partnership will initially focus on enabling users to deposit and withdraw traditional currencies (commonly referred to as “fiat” in crypto) through Coinbase’s services, marking…
Read MoreJapan Readies Major Industry Showcase as 2026 Cannes Market Country of Honor
Japan will take the spotlight at next year’s Cannes market, the business hub of the Cannes Film Festival, after being named the 2026 Country of Honor — a recognition that will see the nation lead the market’s opening festivities and mount a large-scale showcase of its film, animation, and content industries. The plans were outlined…
Read MoreIndonesian bonds are top pick for Schroders on Purbaya, BI bets
[MUMBAI] Schroder Investment Management favours Indonesian bonds and the rupiah as its top picks in Asia, betting that government efforts to boost growth and expectations of further interest-rate cuts will draw foreign inflows. The bullish view comes as new Finance Minister Purbaya Yudhi Sadewa channelled about 200 trillion rupiah (S$15.6 billion) of government cash reserves…
Read MorePBOC governor warns on stablecoin risks as global anxiety builds
[BEIJING] People’s Bank of China (PBOC) governor Pan Gongsheng stiffened warnings on the risks around stablecoins, as the digital tokens usually pegged to fiat currencies stir more angst among officials around the world. Pan said during a forum in Beijing on Monday (Oct 27) that China would further develop its state-backed digital currency. But he…
Read MoreUConn Basketball Star Sarah Strong and Mom, Allison Feaster, Join Madison Reed as Ambassadors
Hair color brand Madison Reed is doubling down on women’s basketball in more ways than one. One year after initially joining forces with the UConn Huskies and tapping star players such as Paige Bueckers — now a WNBA point guard for the Dallas Wings — for its inaugural Team ColorWonder campaign, the brand has tapped…
Read More‘Terrifier’ Star Sues Producers, Alleging Unpaid Royalties and Filming Nude Scene Without Consent
“Terrifier” actress Catherine Corcoran has sued the producers and series director Damien Leone, alleging breach of contract and the distribution of sexually explicit materials without consent. In a suit filed in California federal court on Sunday, Corcoran’s attorneys presented a case, defined by the “all-too-common story of low budget film producers taking advantage of a…
Read MoreFoxconn to invest up to NT$42 billion in AI compute cluster, supercomputing centre
The investment will be made from December 2025 to December 2026 using its own funds [TAIPEI] Taiwan’s Foxconn said that its board of directors has approved an investment plan to procure equipment for an artificial intelligence (AI) compute cluster and a supercomputing centre, that will allow it to spend up to NT$42 billion (S$1.8 billion).…
Read MoreHost An All-Day Horror Movie Marathon, And I’ll Reveal Your Fate In A Frightful Film
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Read More‘Wicked: For Good’ Poised to Cast Another Spell on the Oscars as First Reactions Call It a ‘Heartbreakingly Tender Conclusion’ With ‘Jaw-Dropping Performances’
Is it time for “Wicked” to conquer the Oscars, for good? Universal Pictures’ musical fantasy sequel appears poised to match or exceed its predecessor’s impressive showing at the Academy Awards, based on the first social media reactions that were shared on Monday night. Director Jon M. Chu’s “Wicked: For Good,” written by Winnie Holzman and…
Read MorePhilippine banks to lead profit growth among regional peers
[LONDON] Philippine banks, helped by robust loans, are poised to deliver the highest net interest income growth among South-east Asian lenders this year. Banks in the Philippines are expected to post an average 11 per cent growth in net interest income in 2025, followed by Indonesian banks at 4.3 per cent and Malaysia lenders at…
Read MorePhilippine peso falls to new record low on rate view, outflow
[MANILA] The Philippine peso fell past the key psychological level of 59 per US dollar to an all-time low, putting pressure on the central bank to defend the currency. The peso dropped 0.5 per cent to 59.2 per US dollar on Tuesday (Oct 28), the weakest on record. Traders are closely watching for potential moves…
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