ERNEST & Young’s US arm said on Monday it was shedding 5 per cent of its workforce, less than a week after the unit’s objection torpedoed the global accounting giant’s plan to break up its audit and consulting units.
HSBC’s biggest shareholder Ping An is likely to vote in favour of splitting the bank up at its annual investor meeting on May 5, a source familiar with the Chinese insurer’s thinking said on Monday (Apr 17).
THE European Central Bank is set to deliver three quarter-point increases in interest rates in May, June and July before ending the most aggressive bout of monetary tightening in its history, economists polled by Bloomberg say.
ANDY Saperstein’s first stint on Wall Street didn’t last long. He landed at Salomon Brothers at the end of the 1980s with all the right credentials-degrees in finance and economics from the Wharton School of the University of Pennsylvania.
CHINA’S central bank bolstered liquidity support for the economy as it rolled over maturing medium-term policy loans with higher cash offerings for the fifth month on Monday, while keeping the interest rate unchanged as expected.
THE Bank of England is considering an overhaul of its deposit guarantee scheme after the recent global banking crisis, the Financial Times reported, citing people briefed on the central bank’s plans.
PROCEEDS raised from environmental, social and governance (ESG) bonds in South-east Asia fell 35.7 per cent year-on-year to US$4 billion in the first quarter of 2023 as rising interest rates stirred up market volatility.
SOUTH-EAST Asian bankers expect the pace of phasing out coal to heat up as recent changes to a regional sustainable finance framework potentially allow more financing of such projects.
SOCIETE Generale agreed to pay US$105 million to settle US investor litigation accusing the French bank of violating antitrust law by conspiring with rivals to rig Euribor, a key European interest rate benchmark.
THE US Securities and Exchange Commission met on Friday (Apr 24) to open public comment again on its proposal to expand the definition of an “exchange,” clarifying that its existing rules on exchanges also apply to decentralised cryptocurrency platforms.
