Finance

Generative artificial intelligence (AI) is adding uncertainty to an already uncertain world, but Hong Kong can cope with the challenges by leveraging its hub status and acting as a gateway to China, according to veteran HSBC banker Peter Wong Tung-shun. […]

MADRID, May 24 (Reuters) – Spanish bank BBVA (BBVA.MC), opens new tab on Friday asked stock market supervisor CNMV to authorise its 12.23-billion-euro ($13.29 billion) hostile takeover offer for smaller rival Sabadell (SABE.MC), opens new tab, a potential tie-up of lenders that Madrid […]

STRESA, Italy, May 25 (Reuters) – U.S. Treasury Secretary Janet Yellen told Reuters that European banks face growing risks operating in Russia and the U.S. is looking at strengthening its secondary sanctions on banks found to be aiding transactions for […]

NEW YORK, May 23 (Reuters) – Morgan Stanley’s (MS.N), opens new tab executive chairman James Gorman told the bank’s annual shareholder meeting on Thursday that he would step down on Dec. 31. The former CEO cited the “successful transition” of his successor Ted […]

STRESA, Italy, May 24 (Reuters) – Finance chiefs from the Group of Seven industrial democracies began a two-day meeting in Italy on Friday seeking to present a common front on the need to provide a loan to Ukraine and oppose […]

Total assets invested in China’s mutual funds have topped 30 trillion yuan (US$4.1 trillion) for the first time, reflecting increased demand for risk assets among investors looking to put an abundant pool of cash to work at a time when […]

BERLIN, May 24 (Reuters) – The German economy grew by 0.2% in the first three months of 2024, the statistics office reported on Friday, confirming preliminary data. “After GDP declined at the end of 2023, the German economy started 2024 […]

Adnoc raised $935 million by selling 880 million additional shares in its drilling unit to institutional investors after recording strong demand for the offering. The share sale representing 5.5 per cent of Adnoc Drilling’s total issued share capital registered robust demand from investors […]

Rishi Sunak’s government faces pressure from banks including HSBC and Standard Chartered, as well as other major companies in the UK, to tone down proposed restrictions on doing business with China. Their target is part of new British national security […]

Consumer sentiment and business confidence will pick up now that China has introduced a series of “pragmatic” measures to revive the property and capital markets with a view to aiding its economic recovery, according to private-equity investors. “As the Chinese […]