MUMBAI, June 24 (Reuters) – India’s Kotak Mahindra Bank (KTKM.NS), opens new tab will increase its pace of opening new branches and add about 175 to 200 branches in the financial year 2024-25, a senior official at the bank said, months after the central bank barred the private lender from sourcing new customers digitally. In April, the […]
The timing of an initial public offering, which would likely be London’s biggest in more than a decade, wasn’t immediately clear as Shein is still awaiting approval from the Chinese securities regulator, the people said. An IPO could value the fast fashion giant at about £50 billion ($63.3 billion), Bloomberg reported this month. The preparations […]
BEIJING/HONG KONG, June 24 (Reuters) – UBS (UBSG.S), opens new tab is selling a partial stake in one of its securities joint ventures to Beijing State-owned Asset Management (BSAM), a key step for the Swiss bank as it consolidates operations in China after its merger with Credit Suisse. Its joint venture partner Founder Securities said in a […]
June 21 (Reuters) – U.S. bank regulators said four major banks had shortcomings in their “living wills” – or plans that outline how they could be safely wound down if they went bankrupt or came under pressure. The four lenders – Citigroup (C.N), opens new tab, Bank of America (BAC.N), opens new tab, Goldman Sachs (GS.N), opens new tab and JPMorgan […]
BEIJING/HONG KONG, June 24 (Reuters) – UBS (UBSG.S), opens new tab is selling a partial stake in one of its securities joint ventures to Beijing State-owned Asset Management(BSAM), a key step for the Swiss bank as it consolidates China operations after its merger with Credit Suisse. Its joint venture partner Founder Securities said in a filing on […]
Cybersecurity provider Huntress has raised $150 million in Series D funding, as it weighs a potential public offering in the next few years. The round was led by venture-capital companies Kleiner Perkins and Meritech Capital, along with existing investor Sapphire Ventures. Huntress, based in Columbia, Md., primarily serves small to midsize businesses. The funds will […]
The kingdom hauled in more than $54 billion this year to fund its massive spending ambitions—equivalent to about 5% of its gross domestic product. It loaded up on debt, sold shares in crown-jewel oil company Aramco and cashed out bets on U.S. tech giants. Source: WSJ
June 17 (Reuters) – Singapore-based investment firm Temasek Holdings (TEM.UL) will invest up to A$300 million ($198.4 million) in Australian exchange-traded fund manager Betashares, the company said on Monday. The funding is expected to drive the expansion of Betashares’ offerings in Australia and overseas, it said in a statement. With the investment, Temasek will hold […]
HAVANA, June 20 (Reuters) – Russia’s Novikombank said on Thursday it had become the first bank from the country to open a representative office in Cuba as part of growing economic ties between the former Cold War allies. The Russian state-owned bank said in a statement that Cuba’s central bank had granted it a license […]
FRANKFURT/LONDON, June 21 (Reuters) – State Street (STT.N), opens new tab, BNP Paribas (BNPP.PA), opens new tab and Caceis are lining up as potential bidders for the sale of HSBC Germany’s fund administration unit INKA and custody business, three sources familiar with the matter told Reuters. The process is due to launch in the next couple of weeks, […]