SINGAPORE (Reuters) -Singapore’s biggest bank, DBS Group, reported a 43% jump in quarterly profit on Tuesday to a record high, citing higher net interest margin, sustained business momentum and resilient asset quality. DBS, which is also Southeast Asia’s largest lender by assets, said January-March net profit rose to S$2.57 billion ($1.92 billion) from S$1.8 billion…
(Reuters) -Morgan Stanley is planning to eliminate about 3,000 jobs in the second quarter, a source told Reuters on Monday, in its second round of job cuts in six months. Slow dealmaking and a tough economic environment are prompting the investment bank to look at its headcount, the source said. The latest move follows another…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended little changed on Monday as investors took in the weekend auction of First Republic Bank and braced for this week’s expected interest rate hike from the Federal Reserve. The KBW regional banking index dropped 2.7%, while shares of JPMorgan Chase & Co, which won the…
By Dawn Chmielewski and Tom Hals (Reuters) – A district board appointed by Florida Governor Ron DeSantis to oversee development around Walt Disney Co’s Florida theme parks sued the company on Monday to void “backroom deals” favorable to the entertainment giant. The state court lawsuit escalates tensions between Disney and the Republican governor and likely…
(Reuters) – Air Lease Corp said on Monday it expects delivery delays from Boeing Co and Airbus SE to persist for several years, adding to the headaches of the aerospace industry amid a faster-than-expected recovery in travel. “In recent weeks, we have received additional notices of delay from both Airbus and Boeing for 2023 and…
(Reuters) – Canada’s Competition Bureau on Monday sought information about Royal Bank of Canada’s $13.5 billion takeover of HSBC’s Canada business. The deal is the biggest acquisition for RBC. The last time a deal of this size was attempted in the country was in the early 1990s, when RBC wanted to acquire rival Bank of…
(Reuters) -Meta Platforms Inc is looking to raise $8.5 billion in a five-part bond offering, its second issue after it raised $10 billion last year, the company said in a filing on Monday. The Facebook-parent said the bond issue’s longest 40-year security could yield 192 basis points over Treasuries. It will use the funds to…
By Krystal Hu and Jane Lanhee Lee (Reuters) – Longtime Kleiner Perkins partner Wen Hsieh is leaving the Silicon Valley venture capital establishment to start a fund with backing from the firm and Taiwanese chipmaker TSMC, sources told Reuters. Hsieh is in advanced talks to raise $200 million from limited partners including Kleiner Perkins and…
WASHINGTON (Reuters) – U.S. President Joe Biden called House Speaker Kevin McCarthy and other top congressional leaders to invite them to a May 9 White House meeting to discuss the nation’s debt ceiling, according to two people familiar with the matter. Biden made the calls on Monday afternoon to McCarthy as well as the minority…
(Reuters) -BlackBerry will conduct a review of strategic alternatives, which includes the possible separation of one or more of its businesses, the Canadian technology company said on Monday. The company’s US-listed shares rose near 11% in trading after the bell. BlackBerry, which was founded in 1984 and built pagers, said it has not set a…
