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HSBC has identified US$1.7 billion of extra costs that can be stripped out next year, chief executive Noel Quinn said on Thursday (Dec 1), as the bank battles to improve returns amid calls for it to be broken up by its biggest shareholder.

DEUTSCHE Bank does not need warnings from its regulator to dial back the risk it faces in leveraged loans, its top executive said, adding to a chorus of bankers pushing back against what they see as excessive interference.

TECHNOLOGY giant SoftBank Group sold bonds to retail investors in Japan for the second time this year, underlining demand for juicier yields.

THE battle for deposits has gone up another notch with UOB raising the interest rates on its flagship savings account following similar moves by rivals DBS and OCBC Bank.

DIGITAL asset exchange Binance Holdings has appointed accounting giant Mazars to verify its token reserves, as the meltdown of its former rival FTX triggered increased demand for more transparency from cryptocurrency exchanges.

SAM Bankman-Fried, the founder and former CEO of now-bankrupt crypto exchange FTX, attempted to distance himself from suggestion of fraud in his first public appearance since his company’s collapse stunned investors and left creditors facing losses totaling billions of dollars.

ITALY is set to toughen regulation of digital assets and expand taxation on crypto trading from 2023, following similar moves by countries such as Portugal.

THE crypto exchange Kraken is laying off 30 per cent of its workforce, or about 1,100 people, as the fallout from this year’s digit-asset market meltdown worsens.

THE US central bank could scale back the pace of its interest rate hikes “as soon as December,” Federal Reserve Chair Jerome Powell said on Wednesday, while warning that the fight against inflation was far from over and key questions remain unanswered, including how high rates will ultimately need...

THAILAND increased its key interest rate by a quarter point for a third straight meeting and raised its inflation estimate for 2023.