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SINGAPORE: When Credit Agricole SA and HSBC Holdings Plc issued a payment guarantee for a US$76.5mil fuel purchase from a Singapore trader in March, they unwittingly became the latest victims in a series of trade finance scandals that have led to more than US$9bil in potential losses for global lenders.
The collapse of fintech darling Wirecard AG into insolvency proceedings is a total embarrassment for Germany, whose regulatory apparatus and corporate-governance system failed to properly scrutinise the company’s accounting practices even as red flags kept being waved.
TIME flies by quickly when you’re going about your daily grind. We’re almost well into the third quarter of 2020 – have you made headway in any of this year’s financial priorities and goals?
TODAY, the world’s financial rhythm remains American. The US dollar assumed the role of the world’s dominant reserve, payment and settlement currency after WWII. The country’s position as the sole financial superpower gives it extraordinary influence over the destinies of nations
High Commissioner Vanu Gopala Menon shares how the city-state is grappling with the Covid-19 pandemic.
DETROIT: American auto demand is coming back faster than expected and quickly clearing trucks from dealer lots, spurring Ford Motor Co to crank up production of its highly profitable F-150 pickup in Michigan this week.
Technology is key for schools to face new normal
San Francisco: Facebook has defended itself against a report that it shelved internal research indicating that it was dividing people instead of bringing them together.