American Express forecast a better-than-expected profit for 2024 on hopes that its affluent customers will be resilient with their spending amid elevated interest rates, sending the company’s shares up nearly 3% before the bell on Friday.
Malaysia’s largest asset manager, Permodalan Nasional Bhd (PNB), said on Friday its president and group CEO, Ahmad Zulqarnain Onn, would resign to take the helm of the country’s biggest state pension fund, the Employees Provident Fund (EPF).
Former asset management head of Credit Suisse in Asia Pacific, Min Huang, is leaving UBS as the bank embarks on reviewing its China business post global leadership changes, three sources with knowledge of the matter said.
Alberta Investment Management Corporation (AIMCo), a major pension fund in Canada’s main oil and gas-producing province, would be interested in buying a stake in Canada’s Trans Mountain pipeline if it became available, a spokesperson said on Thursday.
A string of acquisitions by Andrea Pignataro’s fintech firm ION in Italy’s financial sector has prompted the central bank to study in detail the group’s complex ownership structure, two sources with knowledge of the matter told Reuters on Thursday.
Italian police said on Thursday they had uncovered a tax fraud carried out by 85 suspects involving 1.7 billion euros ($1.9 billion) in false invoices, with the money laundered through a system of so-called Chinese shadow banks.
Major central banks have likely come to the end of what has been the most aggressive tightening cycle in decades, but some are pushing back against market expectations for rate cuts soon.
India’s SBI Cards and Payment Services reported a smaller-than-expected third-quarter profit on Thursday, as higher finance costs outweighed a rise in consumer spending.
Indian non-banking financial company Shriram Finance reported a smaller-than-expected 2.3% rise in profit on Thursday, hurt by a rise in finance costs and provisions for bad loans.
Britain’s biggest domestic bank Lloyds is cutting around 1,600 roles across its branch network, a spokesperson for the lender said on Thursday, as part of an overhaul to provide more services online.
