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Ng Yu Zhi’s lavish lifestyle included a posh three-story villa, a US$5mil Pagani Huayra supercar
NEW YORK: Federal Reserve chair Jerome Powell says the US economy is at an “inflection point” with stronger growth and hiring ahead thanks to rising vaccinations and powerful policy support, but Covid-19 remains a threat.
SINGAPORE: Banks are facing billions of dollars in losses after a little-known US investment firm, Archegos Capital Management, defaulted last month on margin calls, forcing a brutal near US$30bil (S$40.4bil or RM124.14bil) stock fire sale.
It was overall a good week in Malaysian equities although the bourse was a late joiner to the global optimism.
(Reuters) -Box Inc said on Thursday private equity giant KKR & Co Inc would lead a $500 million investment in the company and get a board seat, marking an end to the cloud services provider's strategic review.
NEW YORK: Morgan Stanley sold US$5bil (RM21bil) of shares owned by Archegos Capital Management a day before a deluge of block trades sent shockwaves across capital markets.
TOKYO: Toshiba Corp is poised to surge after confirming it received an initial buyout offer from CVC Capital Partners, setting the stage for potentially the largest private equity-led acquisition in years.
Zurich: Credit Suisse Group AG on Tuesday announced an estimated loss of 4.4 billion Swiss francs ($4.7 billion) from its relationship with Archegos Capital Management LP, suspended a share buyback programme and cut its proposed dividend.