Featured Archives • Page 871 of 1362 • Financial News

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China removes PICC, Bank of China chairmen from party roles

CHINA abruptly removed the Communist Party chiefs from two of its biggest state-owned financial firms, sparking concerns of a renewed clampdown on the sector.

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Credit Suisse shares hit record low on outflow claims probe

CREDIT Suisse Group slumped to a record low on a report that the chairman is facing a probe over comments he made that the firm had put a stop to huge client outflows after a run of share declines.

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Coinbase posts quarterly loss; revenue falls less than forecast

COINBASE Global, the biggest US cryptocurrency exchange, reported a fourth-quarter revenue decline that was less than forecast by analysts.

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McKinsey plans to eliminate about 2,000 jobs in one of its biggest rounds of cuts

MCKINSEY & Co plans to eliminate about 2,000 jobs, one of the consulting giant’s biggest rounds of cuts ever.

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Euro eases, but robust services data stems losses

THE dollar held near six-week highs on Tuesday (Feb 21), as the euro came under pressure after data showed eurozone manufacturing activity deteriorated this month, although a rebound in the more inflation-sensitive services sector kept losses in check.

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China central bank asks banks to slow lending in February

CHINA’S central bank has told some banks to slow the pace of lending, to contain risks after new bank loans jumped to a record in January, three bankers with knowledge of the matter said.

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Credit Suisse chairman’s comments draw scrutiny from financial watchdog: sources

SWISS financial regulator Finma is reviewing remarks made by Credit Suisse chairman Axel Lehmann about outflows from the lender having stabilised in early December, two sources said.

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Warburg Pincus raising 3 billion yuan in maiden yuan fund for China deals

WARBURG Pincus is raising 3 billion yuan (S$584 million) in its maiden yuan-denominated fund, two people with knowledge of the matter said, joining a growing list of private equity investors eyeing local currency investment opportunities in China.

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Warburg Pincus raising 3 billion yuan in maiden yuan fund for China deals: sources

WARBURG Pincus is raising 3 billion yuan (S$584 million) in its maiden yuan-denominated fund, two people with knowledge of the matter said, joining a growing list of private equity investors eyeing local currency investment opportunities in China.

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Japan’s key yield rises above BOJ cap on policy tweak bets

JAPAN’S benchmark yield briefly rose above the central bank’s ceiling for the first time since its January meeting, as traders continued to bet on further policy tweaks.

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