By Xie Yu HONG KONG (Reuters) – Consolidation within the global wealth management sector will speed up while managers continue to face regulatory challenges, a report based on a global survey by Citigroup showed. As many as 69% of the almost 170 participants across wealth management and private banking industries agreed that industry consolidation will…
(Reuters) -Ford’s Kansas City assembly plant in Claycomo, Missouri was evacuated on Tuesday after a report of an active shooter, but officials have determined that the threat was not credible. “We and our partner agencies have finished searching the Ford plant. We did not locate anyone inside and have determined the threat was not credible,”…
By Marie Mannes STOCKHOLM (Reuters) -Swedish truckmaker AB Volvo on Wednesday logged a better-than-expected 57% jump in second-quarter adjusted operating profit, helped by price hikes. “We have been successful in improving margins while managing cost inflation and increased disturbances in the supply chain,” Chief Executive Martin Lundstedt said in a statement. Operating profit before restructuring…
SINGAPORE (Reuters) – Two senior members of Singapore’s largest opposition party quit on Wednesday after admitting to an inappropriate relationship, the latest scandal to hit a country otherwise used to stable and drama-free politics. The Workers’ Party (WP) said member of parliament Leon Perera and its youth wing president Nicole Seah had handed in letters…
(Reuters) – Westpac Banking Corp on Wednesday said it would split its consumer and business banking business into two, with each having its own CEO, effective Aug. 1. The bank said Chris de Bruin, currently head of the combined unit, will leave and named Jason Yetton as CEO of the consumer business and Anthony Miller…
By Jason Xue and Tom Westbrook (Reuters) – China’s disappointing first half has the economy ripe for some help, and investors are preparing to ride an expected short-term wave of stimulus, even if structural problems look to hold back a sustainable rally. The latest data this week showed an economy struggling for momentum in the…
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) -Thailand’s economic recovery is intact and gradual policy tightening will help underpin growth and keep inflation in check, the central bank chief said on Wednesday. The Bank of Thailand has raised its main interest rate six times since August to 2% to tame inflation and has pledged…
(Reuters) – After violence erupted in Myanmar in the wake of the 2021 coup, most high school students in the remote township of Thantlang left their studies and took up arms to support a grassroots rebellion against the military, local school teacher Salai said. Across Myanmar, one of Southeast Asia’s poorest countries that has been…
BEIJING (Reuters) – Tourists flocked to China’s scenic Flaming Mountains this week to experience searing high temperatures amid punishing heatwaves that have scorched much of the Northern Hemisphere. Armed with broad-brimmed hats and umbrellas for added protection, tourists took selfies by a 12-metre-tall thermometer that displayed a real-time surface temperature of 80 Celsius (176 Fahrenheit),…
By Nathan Frandino AUCKLAND (Reuters) – The United States brought the issue of mental wellbeing to the fore at the Women’s World Cup on Wednesday by announcing the launch of a new initiative for under-served communities after the tournament. The project in collaboration with non-profit Common Goal was announced as part of U.S. defender Naomi…
