By Byron Kaye and Savyata Mishra (Reuters) -Australian lender ANZ Banking Group Ltd said it was diversifying beyond a residential mortgage market gripped by competition on Friday as earnings from its institutional arm overtook home lending. The country’s No. 4 lender reported a record first-half result as banks shift away from their traditional earnings engine…
By Byron Kaye and Savyata Mishra (Reuters) -Australian lender ANZ Banking Group Ltd said it was diversifying beyond a residential mortgage market gripped by competition on Friday as earnings from its institutional arm overtook home lending. The country’s No. 4 lender reported a record first-half result as banks shift away from their traditional earnings engine…
SYDNEY (Reuters) – Macquarie Group’s commodities and global markets (CGM) division head earned about A$57.6 million ($39 million) for the year ending March 31, topping the CEO’s A$32.8 million compensation, according to the Australian bank’s annual report. Nick O’Kane’s 59% pay bump – he earned A$36.2 million in the last financial year – came after…
By Michael Martina and Don Durfee WASHINGTON (Reuters) – Philippines President Ferdinand Marcos Jr dismissed criticism during an interview on Thursday that his presidential campaign played down the corruption and extravagance the Marcos family was known for during his father’s rule. Marcos told Reuters at the end of a four-day visit to Washington that…
BEIJING (Reuters) – China’s state planner will step up credit support for projects with private investment, the state-run People’s Daily reported on Friday, reinforcing efforts to encourage more private capital investment in major projects. Despite better-than-expected economic growth in the first quarter, the recovery of the world’s second-largest economy has seen public investment outpacing sluggish…
By Chris Prentice, Trevor Hunnicutt and Andrea Shalal NEW YORK (Reuters) – U.S. federal and state officials are assessing whether “market manipulation” caused the recent volatility in banking shares, a source familiar with the matter said on Thursday, as the White House vowed to monitor “short-selling pressures on healthy banks.” Shares of regional banks resumed…
By Chris Prentice, Trevor Hunnicutt and Andrea Shalal NEW YORK (Reuters) – U.S. federal and state officials are assessing whether “market manipulation” caused the recent volatility in banking shares, a source familiar with the matter said on Thursday, as the White House vowed to monitor “short-selling pressures on healthy banks.” Shares of regional banks resumed…
By Jessica DiNapoli NEW YORK (Reuters) -Kellogg Co has a stable reserve of a key ingredient used in its Pop Tarts breakfast pastries that it sources from war-torn Sudan, CEO Steve Cahillane told Reuters in an interview on Thursday. Cahillane said the U.S. food manufacturer did not see any risk to its “safety stock” of…
(Reuters) – Australia’s Downer EDI said on Friday it was served with a second class action lawsuit by certain shareholders alleging breach of disclosures regarding a maintenance contract undertaken by the company’s segment in July 2019. The class action, filed on behalf of shareholders who purchased Downer shares between July 2019 and February 2023, comes…
By Andrea Shalal WASHINGTON (Reuters) -The American Bankers Association on Thursday urged federal regulators to investigate a spate of significant short sales of publicly traded banking equities that it said were “disconnected from the underlying financial realities.” In a letter to U.S. Securities and Exchange Commission Chair Gary Gensler, the lobby group said it had…
