UBS will seek to reassure shareholders on Wednesday (Apr 5) that its unexpected takeover of rival Credit Suisse in the biggest bank rescue since the great financial crash can work.
NEW Zealand’s central bank unexpectedly raised its cash rate by 50 basis points to a more than 14-year high of 5.25 per cent on Wednesday (Apr 5), saying inflation was still too high and persistent and kept the door open to further tightening.
DEUTSCHE Bank hired Credit Suisse Group’s head of mergers and acquisitions (M&A) for South-east Asia, according to people with knowledge of the matter, as rival banks pounce on top talent from the embattled Swiss lender.
A GOLDMAN Sachs Group-led group of banks successfully completed on Tuesday (Apr 4) the biggest issuance of a junk bond since last month’s banking crisis began, indicating that investor appetite for this risky debt is starting to recover.
BNP Paribas raised 1 billion euros (S$1.5 billion) from selling a senior unsecured bond on Tuesday (Apr 4), a lead manager memo seen by Reuters showed, in the first sale of such debt since the forced Credit Suisse-UBS merger roiled the market for bank bonds.
INSURANCE broker Marsh will offer preferential terms and conditions in director and officer (D&O) insurance policies in Asia based on the strength of their companies’ environmental, social and governance (ESG) risk frameworks, the firm announced on Tuesday (Apr 4).
THE Fallout from almost US$2 billion of investment losses at Sweden’s biggest pension fund gathered pace on Tuesday (Apr 4) as Alecta put its equities chief on leave and announced it would scale back large stakes in companies far away from its home market.
CHINA’S largest banks will see near-term revenue and margin pressures on a persisting property sector downturn, higher costs and a worsening global macro outlook, analysts said, clouding growth prospects for the world’s second-largest economy.
INVESTMENT banking fees in the Asia-Pacific region, excluding Japan, fell 26 per cent on the year to US$5.9 billion in the first quarter of 2023 – the lowest start to a year since 2020, according to Refinitiv data released on Tuesday (Apr 4).
KKR on Tuesday (Apr 4) said it had closed its sixth and largest European private equity fund at US$8 billion, a significant boost for the investment firm at a time of market volatility and sinking interest in major acquisitions.
