By Chen Lin and Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s central bank on Wednesday said it had imposed fines collectively worth S$3.8 million ($2.83 million) on lenders Citibank, DBS and OCBC and insurer Swiss Life, for breaching requirements on anti-money laundering and countering terrorism financing. The Monetary Authority of Singapore (MAS) said it discovered inadequate controls…
(Adds graphic) By Aditi Shah and Tim Hepher NEW DELHI/PARIS (Reuters) – Record plane orders by India’s top two carriers show the country’s untapped potential for air travel and its rise as an aviation superpower, but recent airline failures and rows over regulations suggest progress may not be smooth. Indian budget airline IndiGo announced at…
LONDON (Reuters) – Britain, the United States and the European Union pledged billions of dollars of extra help to rebuild Ukraine on Wednesday. Below are the details of some of the commitments made in connection with the Ukraine Recovery Conference in London. EUROPEAN UNION The EU said on Tuesday it would provide Ukraine with 50…
By Kane Wu and Selena Li HONG KONG (Reuters) – UBS will start cutting Asia investment banking jobs at Credit Suisse next month, three people with knowledge of the matter said, as the banks move towards integrating businesses. UBS completed its emergency takeover of embattled rival Credit Suisse last week, forging a Swiss banking and…
By William Schomberg LONDON (Reuters) – British inflation defied forecasts of a fall in May and stayed far above price growth in the United States and elsewhere in Europe, pressuring the Bank of England to keep on raising interest rates despite the growing hit to mortgage-holders. Britain has struggled more than other countries with the…
(Reuters) – BMW’s strong ties with China are a “win-win” as the car industry shifts towards greener, more connected vehicles, said CEO Oliver Zipse after Chinese Premier Li Qiang visited the German carmaker’s headquarters in Munich on Wednesday. Accompanied by a high-ranking delegation, Li met with Zipse and other company executives as part of a…
By Yoruk Bahceli and Dhara Ranasinghe LONDON (Reuters) – Investors on Wednesday ramped up bets on the Bank of England raising interest rates by a hefty half a percentage point on Thursday as inflation failed to fall in May, sending Britain’s two-year borrowing costs to a fresh 15-year. Inflation defied expectations that it would slow…
MOSCOW (Reuters) -Russia said on Wednesday that U.S. President Joe Biden’s reference to his Chinese counterpart Xi Jinping as a dictator showed U.S. foreign policy was inconsistent and erratic. At a fundraiser in California on Tuesday, Biden discussed a a Chinese spy balloon the United States shot down earlier this year, saying Xi had become…
By John Irish, Elizabeth Pineau and Bate Felix PARIS/DAKAR (Reuters) – After armed men killed nine Chinese nationals at a gold mine in Central African Republic in March, a video circulated on the internet saying France had secretly ordered the attack and planned to discredit Russian mercenary group Wagner in the country. In the video,…
A look at the day ahead in U.S. and global markets from Mike Dolan The Fed chair has a tricky message to communicate. Jerome Powell’s testimony to Congress later on Wednesday will flesh out how the Federal Reserve chief rationalises last week’s pause in its 15-month rate hike campaign – even though the central bank…
