Share of companies facing transition risks increasing. As climate-related risks rise, the share of companies that are at risk of a credit rating downgrade due to elevated climate transition effects is on the rise too, Fitch Ratings reports. In a report...
Warren Buffett’s Berkshire Hathaway holding company briefly crossed US$1 trillion in market value Wednesday, making it the first non-tech firm on Wall Street to pass the milestone. Buffett, who turned 94 today, has been chair of Berkshire Hathaway since 1970,...
Measures of consumers’ spirits have shown a recent uptick. The U.S. economy grew last quarter at a healthy 3% annual pace, fuelled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment. The...
Divide emerges as big banks cope with strained consumers. Canadian Imperial Bank of Commerce reported its third-quarter profit rose compared with a year ago as it set aside less money for bad loans, bucking a trend seen this quarter among...
China’s big four banks saw growth although NIMs fell. The market capitalization of the top 25 banks worldwide rose 5.4% quarter-on-quarter (QoQ) to $4.11t on the back of rising stock prices and a resilient US economy, reports GlobalData. Bullish investor sentiment...
Gains from the sale of its Canada and France businesses were offset by impairments. HSBC has earned $17.7b profit after tax in the first six months of 2024, 2% lower than in H1 2023, the bank’s latest interim results showed. Profit...
This is thanks to its non-interest income growing 28.4%. Maybank saw its profit after tax and minority interest (PATAMI) rise 9% year-on-year (YoY) to US$ 1.16 b in the first six months of 2024. Southeast Asia’s fourth largest bank by assets...
The bank’s wealth management arm earned more than a year earlier. Royal Bank of Canada reported a third-quarter profit of $4.49 billion, up from $3.86 billion a year earlier. The bank says its net income amounted to $3.09 per diluted share...
The bonds were priced at fixed rates of 2.75% and 3.10% per annum. DBS has priced Temasek’s 10-year (T2034-CNH) and 30-year (T2054-CNH) offshore CNY bonds under the US$25b Guaranteed Global Medium Term Note Programme. The 10-year tranche, T2034-CNH, valued at CNH1b...
The solar energy will be transported via a 4,300km subsea cable. Australia has approved SunCable's flagship Australia-Asia power link project (AAPowerLink), which will ship energy from a giant solar farm in Northern Australia to Singapore through a 4,300km subsea cable. The...
