Culture
Biggest US banks face revenue pressure in new era of rate cuts
BIG bank investors parsing through the industry’s third-quarter results this week will face something they haven’t grappled with in nearly a half-decade: the impact of Federal Reserve rate cuts.
JPMorgan...
Wall Street salaries decline further from pandemic heights
SALARIES in New York City’s securities industry fell for a second consecutive year in 2023 as profits retreated from highs reached during the pandemic.
The average salary was US$471,370 including...
Singapore stocks rise on Wednesday amid return of risk appetite; STI up 0.6%
Analyst says a dip in Treasury yields overnight and a pause in the US dollar rally led market participants to take the chance to load up on risksSINGAPORE stocks...
India central bank governor warns non-bank lenders of ‘growth-at-any-cost’ approach
SOME Indian non-banking finance companies (NBFCs) are aggressively pursuing growth and chasing excessive returns on equity, which could pose financial stability risks, the central bank governor said on Wednesday...
Brokers’ take: Maybank raises Sea’s target price to US$110 on higher earnings estimate
MAYBANK Securities has raised its target price for the Internet company Sea by 15 per cent to US$110, from US$96 previously, while reiterating its “buy” call on the counter. The...
TSMC sales beat estimates in sign of solid AI chip demand
TAIWAN Semiconductor Manufacturing Co (TSMC) posted on Wednesday (Oct 9) a better-than-expected 39 per cent rise in quarterly revenue, assuaging concerns that AI hardware spending is beginning to taper...
Going for broke: Will Hin Leong’s creditors get their money back if OK Lim and his children declare bankruptcy?
EMBATTLED Hin Leong Trading founder Lim Oon Kuin – the former Singapore oil tycoon better known as OK Lim – and his children, Evan Lim and Lim Huey Ching,...
OK Lim has accepted judgment debt of over US$3.5 billion, but creditors will likely claw back much less
The 82-year-old and his children, Evan Lim and Lim Huey Ching, are planning to file for bankruptcyEMBATTLED Hin Leong Trading founder Lim Oon Kuin – the former Singapore oil...
Thailand’s B.Grimm eyes clean power projects in China and Greece
THAI energy producer B.Grimm Power is considering investing in renewable energy in China and Greece as it pushes ahead with efforts to more than double its generation capacity by...
China’s Zijin Mining to buy Newmont’s Ghana gold project for US$1 billion
CHINA’S Zijin Mining Group will buy the Akyem Gold Mine Project in Ghana from US-based Newmont for US$1 billion, the companies said on Wednesday (Oct 9).The sale is a...
