JPMorgan Chase & Co’s commercial bank is entering Singapore and Israel this year as its unit catering to midsize and small companies makes a global push, the bank said.
Kotak Life Insurance is betting on sectors such as defence, capital goods, engineering, financials and specialty chemicals as India’s investment cycle picks up, and the government pushes “import substitution” schemes to promote local businesses, said Hemant Kanawala, its head of equity investments.
UBS will start cutting Asia investment banking jobs at Credit Suisse next month, three people with knowledge of the matter said, as the banks move towards integrating businesses.
SoftBank Group CEO Masayoshi Son said on Wednesday that his tech investing conglomerate plans to shift its stance to “offence mode” amid excitement over advances in artificial intelligence.
JPMorgan Chase said the U.S. Virgin Islands gave Jeffrey Epstein more than $300 million in tax incentives and waived sex offender monitoring requirements, shielding the disgraced late financier as he gave cash and gifts to top officials.
JPMorgan Chase & Co has in a new round of downsizing cut around 20 investment banking jobs in Asia, a source with direct knowledge of the matter said, joining global peers in trimming headcount as dealmaking slows.
A German bank that finances property worldwide is bracing for a possible hit from the U.S. office market this year as it looks for “solutions” with clients to keep loans from souring, its chief executive said.
Singapore’s central bank on Wednesday said it had imposed fines collectively worth S$3.8 million ($2.83 million) on lenders Citibank, DBS and OCBC and insurer Swiss Life , for breaching requirements on anti-money laundering and countering terrorism financing.
Financials Acquisition Corporation said on Wednesday it would seek shareholder permission next month for more time to create a billion pound ($1.28 billion) insurance undertaking.
Commonwealth Bank of Australia on Wednesday cut its buffer rate for some borrowers refinancing their existing home loan to 1% from the industry standard of 3%, providing relief to many clients who would otherwise fail to qualify due to high interest rates.
