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Corporate News 13 Mar 2017 | 12:03 AM

HSBC appoints insurer AIA's Tucker as chairman

HONG KONG: Europe's biggest bank HSBC Holdings Plc on Monday said AIA Group Ltd Chief Executive Mark Tucker had been appointed as its chairman, replacing Douglas Flint.

Banking 03 Feb 2017 | 12:00 AM

Deutsche Bank lags rivals with big quarterly loss

FRANKFURT: Deutsche Bank fell further behind its Wall Street rivals in 2016, lagging their strong rebound in bond trading in the last three months of the year and increasing pressure on CEO John Cryan ahead of an expected strategy update this spring.

Business 27 Jan 2017 | 12:00 AM

RBS to take US$3.8bil charge tied to US mortgage probe

LONDON: Royal Bank of Scotland Group Plc said it will take a £3.1bil (US$3.8bil) charge in its fourth-quarter results, as the lender used other banks’ settlements to estimate the impact from a US probe into sales of mortgage securities.

Corporate News 18 Jan 2017 | 9:11 AM

HSBC to shift staff from Britain to Paris after Brexit

DAVOS, Switzerland: HSBC will move staff responsible for generating around a fifth of its UK-based trading revenue to Paris following Britain's exit from the European Union, Chief Executive Stuart Gulliver said on Wednesday.

TECH 14 Dec 2016 | 5:05 AM

SWIFT confirms new cyber thefts, hacking tactics

Cyberattacks targeting the global bank transfer system have succeeded in stealing funds since February’s heist of US$81mil (RM359.51mil) from the Bangladesh central bank as hackers have become more sophisticated in their tactics, according to SWIFT.

Business 13 Dec 2016 | 12:56 AM

Breakfast briefing: Tuesday, December 13

Breakfast briefing: Tuesday, December 13

Business 29 Nov 2016 | 12:00 AM

Global bank regulators seek a ‘miracle’ deal on capital

LONDON: Global banking regulators are scrambling to reach a compromise on new capital standards, as political support wanes in Europe and the US for new curbs on the industry.

Business 24 Nov 2016 | 12:00 AM

India’s junk bills dilemma

MUMBAI: When the rest of the world rings in the New Year, India’s central bank will be grappling with a unique situation: how to deal with more than 23 billion worthless bank notes.

Business 05 Nov 2016 | 12:00 AM

Short position

OVER the week, smallish firm XOX Bhd said it was proposing to issue 250 million new ordinary shares of 10 sen per subscription share to Macquarie Bank Ltd, as part of a fund-raising exercise to boost expansion of its Voopee mobile application.

Banking 10 Oct 2016 | 7:15 AM

StanChart cardholders in M'sia to get 20% cashback on global Uber rides

KUALA LUMPUR: Standard Chartered Bank credit cardholders in Malaysia will now receive 20% cashback on all Uber rides globally under a recent partnership entered between the bank and the international ride-sharing service provider