MANULIFE Financial is eliminating about 50 jobs in the US and Canada as part of a plan to outsource some real estate operations and focus more on investing.
THE main lobbying group for Canada’s banking industry invoked the collapse of FTX and Celsius Network in warning that the government needs to establish better consumer protections for the country’s payments systems.
CREDIT Suisse has made 889 million new shares available to existing investors at 2.52 Swiss francs (S$3.68) per share, the bank said on Thursday (Nov 24), confirming the final terms of its 4 billion franc capital hike.
Higher interest rates hit reinsurance capital, combining with climate change to push insurance costs up
THE pool of funds available for reinsurance will decline as rising interest rates and a volatile market put heightened pressure on the sector. In the long run, climate change is likely to also raise the cost of capital for reinsurers.
THE US dollar held onto losses on Thursday (Nov 24), after the minutes from the Federal Reserve’s November meeting supported the view that the central bank would downshift and raise rates in smaller steps from its December meeting.
UBS Group has seen significant inflows into its Asia-Pacific wealth management over the past three months from clients fleeing Credit Suisse Group, as its smaller Swiss rival struggles with a crisis of confidence.
AS THE proportion of non-competitive applications shifted in favour of competitive bids with a specified yield, the cut-off yield on the latest Singapore six-month Treasury bill (T-bill) fell to 3.9 per cent on Thursday (Nov 24), from 4 per cent a fortnight ago.
THE latest six-month Treasury bills (T-bills) issued by the Singapore government emerged 2.5 times oversubscribed, causing a delay to the publication of the results of the auction on Thursday (Nov 24).
THE crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such ‘conglomerate’ platforms will be the focus for 2023, the new chair of global securities watchdog Iosco said in an interview.
SRI Lanka’s central bank on Thursday (Nov 24) threatened administrative intervention to control high market interest rates that it regarded as out of line with the inflation outlook.