Markets
Weekly Global News Wrap: Banks eye layoffs as pandemic costs loom; Credit Suisse applies for Spanish investment bank licence
And JPMorgan exits Brazilian private banking business.
Weekly Global News Wrap: Banks eye layoffs as pandemic costs loom; Credit Suisse applies for Spanish investment bank licence
And JPMorgan exits Brazilian private banking business.
China's megabanks ramp up employment despite falling profits
The Agricultural Bank of China has already hired 4,500 people.
South Korean banks' FX deposits hit record $87.4b in July
Dollar deposits gained $2.76b during the month.
Asset quality, earnings pressure loom over Australia's big banks
There is underlying economic uncertainty due to rising infections and stricter restrictions.
Thai banking system still strong despite lower profits: central bank
Capital funds and provisions were raised to guard against the slump.
Jefferies, Regis Partners team up for Philippine cash equities business
Jefferies will distribute equity research on local-based companies to its client base globally.
Indian prime minister keen to ramp up stake sale of four banks: report
The government is pushing for privatization to help raise funds for its budget.
Weekly Global News Wrap: Goldman Sachs cuts Q2 earnings for 1MDB settlement; Barclays probed for spying claims
And Revolut says losses more than tripled in 2019.
Return of private placements boost Chinese regional banks' capital
They allow for tailored government participation in bank recapitalisation.
Weekly Global News Wrap: US Fed, shadow banks on collision course; Banks toughen lending even as demand falls
And France suspends Morgan Stanley from some treasury bond deals.
Taiwanese banks' leverage hits record-high as economy plunges
The hike will carry over until 2021.
Gloom on the horizon for APAC banks' profits in the next few years
Diversification of income streams has yet to yield substantial results.
Recession hounds APAC financial firms as pandemic batters credits
The outbreak will permanently reduce the economy by 2-3%.
Weekly Global News Wrap: ECB extends dividend ban; AmEx warns of slow rebound as credit losses soar
And Goldman Sachs' new performance review opens for more job cuts.
Tokyo, Sydney, aim to lure financial firms from Hong Kong
But Singapore remains the top draw due to its favorable environment and standing.
Chinese banks' capital gap to foil economy boost
Inefficient credit could potentially lead to high systemwide divide.
UOB Asset Management unveils robo-advisory app for retail clients
This makes them the first regional asset management firm to offer robo-advisory.
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