Markets

BEIJING: China denied on Friday (Mar 12) it was planning to hit e-commerce giant Alibaba with a fine of almost US$1 billion for allegedly flouting monopoly rules, as authorities put the screws on the firm as part of a crackdown on the technology sector. Officials are considering a hefty penalty...

Deutsche Bank paid Chief Executive Christian Sewing 7.4 million euros (US$8.8 million) in 2020, a 46per cent increase from a year earlier, as the bank eked out a profit after years of losses.

Zurich private bank Rahn+Bodmer will pay US$22 million to settle U.S. criminal charges it helped American taxpayers who were exiting accounts at UBS and other Swiss banks and hiding hundreds of millions of dollars in offshore accounts.

Britain's economy shrank by a less severe than expected 2.9per cent in January from December as the country went back into a coronavirus lockdown, official data showed on Friday.

A third of the world's biggest banks still have no board members with professional technology experience, skills needed to help lenders make better decisions as they increase investments on IT, a new study by consultancy Accenture showed on Friday.

Close scrutiny of UK financial firms' European Union outposts will continue indefinitely, the bloc's securities watchdog said, as regulators begin a round of new checks on how they are operating.

China's Ant Group flagged a set of financial self-discipline rules on Friday amid intense scrutiny on its activities by authorities and the country's overall tightening of financial technology regulations.

JD.com Inc is in talks to buy part or all of a stake in brokerage Sinolink Securities worth at least US$1.5 billion, three people said, as the e-commerce major aims to bolster its financial services operations.

SINGAPORE: More than 10,000 employers from a variety of sectors received help in hiring staff or transforming jobs last year, the Ministry of Manpower (MOM) and Workforce Singapore (WSG) said on Friday (Mar 12). About 90 per cent of them were small- and medium-size enterprises (SMEs), a 45 per ...

Ransom-seeking hackers have begun taking advantage of a recently disclosed flaw in Microsoft's widely used mail server software, a researcher said late Wednesday - a serious escalation that could portend widespread digital disruption.