ANZ will concentrate its resources on institutional banking in Asia with the sale of a portfolio of retail and wealth management assets to Singapore-based DBS. The banks chief executive Shayne Elliott told BlueNotes on video from Hong Kong the move followed an extensive review of ANZs mix of businesses in the region and was part…
A long-awaited report into a unit of Royal Bank of Scotland has found no firm evidence that it deliberately pushed small businesses into bankruptcy for its own profit. An independent report ordered by the Financial Conduct Authority has scrutinised dozens of allegations about RBSs now-defunct Global Restructuring Group. But the most serious of these, that…
With Samsung Electronics Vice Chairman Lee Jae-yong joining the board of directors, the country’s largest conglomerate is expected to accelerate the reform of its corporate governance structure, which the market expects will not only help him inherit managerial control but also enhance shareholder value. Founded by Lee Byung-chul in 1938 as a trading company, Samsung…
Do you find it difficult to manage your expenses and struggle to save or repay debt every month? Countless UAE residents are struggling with debt that has spiralled out of their control. With many owing huge outstanding amounts on multiple credit cards and unsecured loans, the road to being debt-free can seem like…
With Samsung Electronics Vice Chairman Lee Jae-yong joining the board of directors, the country’s largest conglomerate is expected to accelerate the reform of its corporate governance structure, which the market expects will not only help him inherit managerial control but also enhance shareholder value. Founded by Lee Byung-chul in 1938 as a trading company, Samsung…
Published: 19:29 +11:00, 28 October 2016 | Updated: 20:44 +11:00, 28 October 2016 Hefty charges saw Royal Bank of Scotland swing to a £469million third quarter loss but its shares pushed higher on signs of improvement in its ‘core businesses.’ The big loss compares with a profit of £940million in the same period last year,…
Image source: Getty Images. Continue Reading Below While MSA Safety (NYSE: MSA) continues to face challenges in several of its end markets, it is doing an admirable job battling against these issues. That was the case again during the third quarter where the headwinds facing the company kept a lid on revenue growth. However, its…
Bank of Communications third-quarter net profit rose, as a 2015 restructuring spurred its business units to earn more fees and commissions, allowing the lender to reduce its reliance on interest rate spreads for income. Net profit rose 1.4 per cent to 15 billion yuan in the three months ended September, from last years 14.8 billion…
Royal Bank of Scotland has conceded it will miss a Brussels-enforced deadline to offload its Williams & Glyn arm, as it slumped to a bigger-than-expected loss for the third quarter. Speaking as the state-backed lender swung to net loss of £469m from a £940m profit a year earlier, boss Ross McEwan that we dont know…
ANZ has disclosed it will book charges totalling $360 million against its full-year after-tax profit, a week ahead of releasing its annual results. The bank said its financial results will include a $168 million charge against revenue of its institutional markets business, after it changed the method of valuing derivative instruments. It will take another…