Bank of England Deputy Governor Sarah Breeden said the impact on UK inflation from U.S. President Donald Trump’s trade tariffs – and the implications for interest rates – remained unclear even if Washington’s new policies were likely to lower growth. “Overall, tariffs are likely to lower UK growth,” Breeden told an MNI Livestreamed Connect event […]
Wednesday’s jaw-dropping stock-market rally on President Donald Trump’s surprising tariff reversal is one for the history books. The S&P 500 skyrocketed 9.52% in a kneejerk reaction to Trump’s announcement to put a 90-day pause on some of the lofty ‘reciprocal’ tariffs. The one-day gain ranks as the third biggest since World War II for the main stock market benchmark, according to […]
JP Morgan is set to expand its footprint in Nigeria by converting its Lagos representative office into a fully operational business branch. This development was disclosed in a report by Africa Intelligence, which stated that the US banking giant, which had been present in Nigeria since the 1980s, plans to apply for a merchant banking […]
The world’s 3,028 billionaires are spread across more than 800 cities around the globe, from Feldmeilen, Switzerland to Ezulwini, a small town in the western part of Eswatini–better known by its former name, Swaziland, in southern Africa. Yet nearly a quarter of them, worth a combined $3.3 trillion, have chosen to make their primary residence […]
Taiwan-based United Microelectronics Corp. (UMC) inaugurated a new 22-nanometre semiconductor fabrication facility in Singapore on 1 April, aiming to address rising global chip demand and enhance supply chain resilience. The new fab, which is located adjacent to UMC’s existing plant in Pasir Ris Wafer Fab Park, has commenced pilot production, with full mass production scheduled […]
Bank stocks tanked across the globe on Friday as fears of a recession swept through markets after U.S. President Donald Trump announced the highest tariff walls in a century. The S&P 500 banks index which tracks U.S. lenders, fell more than 7%, extending declines after plunging on Thursday. Citigroup and Bank of America were the […]
Meta Platforms Inc. plans to spend nearly $1 billion on the development of a data center project in central Wisconsin, underscoring a larger effort from the social media giant to ramp up investments in AI and cloud infrastructure. In February, the state of Wisconsin struck an incentive deal with an unnamed company using an alias […]
The Morgan Stanley-managed fund is due to close in June and expected to raise at least $684mln based on current investor commitments, according to the people, both of whom declined to be identified because the information hasn’t been made public. Morgan Stanley is raising about 100 billion yen ($684 million) for a Japan-focused real estate […]
Months after President Donald Trump had been hammering Panama over its most valuable asset, the Panama Canal, an investment group led by BlackRock, a giant American asset manager, has agreed to buy two ports in the place owned by a Hong Kong company. BlackRock will buy the ports, which sit at either end of the […]
Explosive Allegations Surface: Ken Koh Accuses UOB of Breaching Banking Secrecy and Orchestrating a Conspiracy That Cost 300 Singaporeans Their Jobs — Potentially Singapore’s Largest Financial Scandal In a bombshell revelation backed by audio recordings and extensive documentation, Ken Koh, former CEO of Yang Kee Logistics, alleges that United Overseas Bank (UOB) coerced him into […]