News
OCBC conservative about FY2025 targets amid trade tensions, uncertainties
Bank’s Q4 net profit is up 4% at S$1.7 billion, while full-year earnings rise 8% to a record S$7.6 billion OCBC rode on the strength of macroeconomic tailwinds to...
China to start bank recapitalisation with at least 400 billion yuan
CHINA plans to start re-capitalising several of its biggest banks in coming months, according to people familiar with the matter, following through on a broad stimulus package unveiled last...
CDL CEO Sherman Kwek disappointed by father’s ‘extreme actions’ against him after suits filed
CITY Developments Ltd (CDL) group chief executive officer Sherman Kwek said that recent changes to the board have “never been about ousting our esteemed chairman”, responding to moves by...
CDL says Sherman Kwek remains group CEO, as board battle erupts
City Developments Ltd (CDL) group chief executive officer Sherman Kwek said recent changes to the board have “never been about ousting our esteemed chairman, responding to moves by his...
HSBC names Asia country, banking heads in CEO’s major revamp
HSBC Holdings gave country heads in some smaller Asian markets additional responsibilities as the lender streamlines and removes management layers. Peter Kim was appointed head of banking on top...
Alibaba makes AI model for video, image generation publicly available
CHINESE e-commerce leader Alibaba said on Wednesday (Feb 26) that its video- and image-generating artificial intelligence (AI) model Wan 2.1 is now publicly available – or open source –...
Circle says stablecoin issuers should be US registered
JEREMY Allaire, the co-founder of stablecoin issuer Circle Internet Financial, is making the case that the issuers of the US dollar-based cryptocurrencies that underpin much of the trading in...
Super Micro jumps after filing delayed financial reports
SUPER Micro Computer gained more than 20 per cent in extended trading after it submitted outstanding financial reports to become compliant with Nasdaq rules, easing concerns risks that the...
OCBC shares fall nearly 3% after Q4 earnings miss
Fourth-quarter net profit of S$1.69 billion falls short of the S$1.78 billion consensus forecastSHARES of OCBC fell in early trading on Wednesday (Feb 26) morning after the lender posted...
Lynas profit slumps 85% as low rare earths prices take toll
The miner’s performance indicates the market is still over-supplied, with rare earth oxide prices down due to strong output from China and its economic slowdownLYNAS Rare Earths’ first-half profit...
Instacart forecasts downbeat first-quarter core profit, shares fall
INSTACART on Tuesday forecast a lower-than-expected first-quarter core profit as the online grocery delivery platform expects sequential declines in advertising revenue.The company’s shares, which also missed fourth-quarter revenue estimates,...
