Four Australian banks will give back a total of A$28 million ($18.95 million) to low-income customers, after a review by the corporate regulator found these customers had been kept in high-fee bank accounts despite being eligible for cheaper products. A report released by the Australian Securities and Investments Commission (ASIC) on Monday said ANZ (ANZ.AX), opens […]
France has no more financial leeway in its budget and needs to urgently focus on reducing its debt, the head of the country’s national audit office said on Monday. Pierre Moscovici told France Inter radio that whoever emerges in France’s next government, from the current political gridlock following snap elections, needed to prioritise on urgently […]
The German bank regulator BaFin said on Friday that it had threatened to fine Berlin-based Solaris if it doesn’t meet deadlines to improve anti-money laundering controls and other shortfalls. BaFin also said that it was extending the mandate of a special monitor installed since 2022 to oversee progress. Solaris said that it was continuing “to […]
Yoma Strategic, through its subsidiary Myanmar Motors, has entered into a strategic agreement to purchase the remaining shares it doesn’t already own in Yoma Fleet. According to a report by The Edge Singapore published on Thursday (27 June), Myanmar Motors finalised a share exchange deal with Tokyo Century Asia to acquire Tokyo Century Asia’s 20% stake […]
China’s central bank is widely expected to leave a medium-term interest rate unchanged and drain some cash from the banking system when rolling over such maturing loans on Monday, a Reuters survey showed. While the economy continues to sputter, a weak Chinese currency has remained the key constraint limiting Beijing’s monetary easing efforts, as that […]
BNY (BK.N), opens new tab beat Wall Street’s expectations for second-quarter profit on Friday, as strong investment service fees more than offset lower interest income, sending the world’s largest custodian bank’s shares up more than 3% in premarket trading. The bank’s assets under management climbed 7% to $2.05 trillion from a year earlier, as more investors aimed […]
China and the Middle East have the potential to revitalise their historical link through financial collaborations, but more mutual understanding is needed, according to Wei Zhen, a managing director at MSCI. The index provider, which first included Saudi Arabian stocks in its Emerging Markets Index in 2019, has helped to put the kingdom on the […]
has agreed to be acquired by private-equity firm Bain Capital in a deal that values the wealth technology platform at $4.5 billion. Envestnet on Thursday said Bain will pay $63.15 a share, a 2.4% premium to Wednesday’s closing price of $61.70 for the Berwyn, Pa., company and is nearly 12% above Envestnet’s closing price of […]
Britain’s markets watchdog on Thursday paved the way for the biggest shake-up in three decades of rules for companies listing on the London Stock Exchange as it seeks to catch up with New York and the European Union post-Brexit. The regime, which aims to attract a wider range of listings by reducing red tape, is […]
Polar Capital (POLR.L), opens new tab on Thursday reported a 7% rise in assets under management to 23.5 billion pounds ($30.2 billion) in the quarter to end-June, boosted by net inflows of 644 million pounds and rising interest in funds managed by its emerging markets and Asian Stars teams. Chief Executive Gavin Rochussen said the inflows since […]