Trump administration orders to keep an ageing, unneeded Michigan coal-fired power plant online has cost ratepayers from across the US midwest about $113m so far, according to estimates from the plant’s operator and regulators. Still, the US energy department last week ordered the plant to remain open for another 90 days. The Trump administration in […]
Bank of Singapore plans more investment in hiring and technology as it aims to climb into Asia’s top five private banks within five years after assets under management rose nearly 20% to exceed $145 billion in the third quarter, Chief Executive Jason Moo said. Asia’s wealth surge anchors the push. Global high-net-worth individual wealth rose […]
Blackstone Inc. is nearing an acquisition of MacLean Power Systems in a deal that could value the utility-parts maker at more than $4 billion according to people familiar with the matter. The private equity firm may announce a purchase of MacLean from Centerbridge Partners as soon as next week, the people said, asking not to […]
Why are so many veins of gold running through China? Its vast land mass rests on several tectonic plates. Geological activity creates conditions ideal for the formation of the element known as aurum in Latin, which is what gives gold its abbreviation Au. Volcanic activity or magma in Earth’s mantle heats subsurface water, which will then dissolve traces of gold from deep […]
Marshall Wace is preparing to return $3.1 billion to investors from two of its main hedge fund strategies in an effort to curb asset growth. The London-based firm plans to distribute the funds in January, reducing its assets under management to approximately $75 billion The move aligns with a broader trend among top hedge fund […]
UBS has raised its 2026 mid-year gold target price to $4,500/oz – up from $4,200 previously – on Fed rate cut expectations, persistent geopolitical risks, fiscal concerns and strong demand from central banks and ETF investors. “We expect gold demand to rise further in 2026, influenced by anticipated Fed rate cuts, lower real yields, continued […]
A planned US$20 billion (RM82.93 billion) bailout for Argentina from JPMorgan Chase, Bank of America and Citigroup has been shelved as bankers pivot instead to a smaller, short-term loan package. In October, the US Treasury reached a US$20 billion exchange-rate stabilisation agreement with Argentina, to be paired with a bank-led debt facility for the same amount. The deal came […]
Africa’s estimated $100 billion credit shortfall for small and medium enterprises is forcing banks, telecom operators, and fintech startups into deeper and unexpected partnerships. The Africa-wide figure comes from a detailed assessment by the African Development Bank (AfDB), which identifies SME financing constraints as one of the continent’s most persistent economic obstacles and warns that […]
The economic momentum generated by the White House meeting between Saudi Crown Prince Mohammed bin Salman and US President Donald Trump on Tuesday shifted swiftly to the US-Saudi Investment Forum at the Kennedy Center in Washington, D.C. It was here on Wednesday that high-level government agreements announced in the Oval Office and at a White […]
Schneider Electric said on Wednesday it had signed new deals worth almost $2.3 billion with two U.S. data centre operators, as surging adoption of artificial intelligence boosts infrastructure demand. At an industry event in Las Vegas, the French industrial group announced a $1.9 billion partnership with privately held tech firm Switch, covering power modules and […]