Banking & Finance
HSBC partners with Google Cloud to expand AI usage
The announcement comes after Elhedery in May urged staff to embrace AI
GIC nears deal to offload US$2 billion in private credit stakes
Institutional investors are utilising the secondary market more frequently to rebalance their portfolios
More central banks increasing domestic gold storage, diversifying overseas vaulting: survey
The World Gold Council says 93% of respondents reported already holding the metal, up from 81% last year
Binance set to lose EU licence bid, permission to offer services in the bloc: sources
The company believes it has met the relevant requirements to be MiCA authorised, a spokesperson said
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China signs up 26 financial institutions to digital yuan cross-border payment platform
It supports 24-hour digital payment links with foreign central banks and overseas financial institutions
Germany rejects UniCredit’s 39 billion euro Commerzbank offer
The government backs the bank’s independence and opposes the Italian lender’s ‘aggressive approach’
Bank of Japan raises interest rates to 31-year high in widely expected move
The central bank decides to raise its short-term policy rate to 1% from 0.75% by a 7-1 vote
KPMG scandal deepens Big Four accounting firms’ woes in Australia
Latest controversy will likely accelerate sector decline, analysts say
Australia’s central bank warns rate hikes might not be over after holding fire
The RBA has already raised rates by 75 basis points since February
AIA, Prudential create senior roles in Hong Kong for wealthy China clients
The firms are catching up with early movers that have recently been logging record premiums
