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Bank of England repo demand climbs to record £21 billion

BRITISH banks received a record £21.347 billion (S$36.64 billion) in funds from the Bank of England at its weekly short-term repo on Thursday (Jun 27), marking the 11th time in the past 14 repos that usage has set a fresh record high.

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Great Eastern to delist only if in our interests and conditions acceptable: OCBC

GREAT Eastern’s offeror OCBC will only take the insurer private if the “conditions are acceptable and in the interests of OCBC and its shareholders”, said the bank in response to questions from the Securities Investors Association (Singapore) or Sias.

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OCBC to delist Great Eastern only if it’s in bank’s interests and conditions are acceptable

OCBC will take insurer Great Eastern private only if the “conditions are acceptable and in the interests of OCBC and its shareholders”, the bank said in response to questions from the Securities Investors Association (Singapore), or Sias.

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UBS revamps how it sells private asset funds as demand booms

UBS Group is seeking to cement its position as top-five player among global limited partners, by pooling all of the bank’s private-markets offerings into one unit.

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Prudential taps Citi private banker to be new Singapore CEO

PRUDENTIAL has appointed Chan San San, a Citi private banker, as its new chief executive officer for Prudential Singapore, the insurer said on Thursday (Jun 27).

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SoftBank Group launches AI healthcare joint venture with Tempus AI

JAPANESE technology investor SoftBank Group has launched a joint venture with Tempus AI that aims to analyse personal medical data with artificial intelligence (AI) to come up with treatment recommendations, chief executive officer Masayoshi Son told a briefing in Tokyo.

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SoftBank to back AI startup Perplexity at US$3 billion valuation

SOFTBANK Group’s Vision Fund 2 is investing in US artificial intelligence (AI) startup Perplexity AI at a US$3 billion valuation, Masayoshi Son’s latest bet on a sector he deems crucial to securing his legacy.

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US regulators could approve spot ether ETFs for launch by Jul 4: sources

THE US Securities and Exchange Commission (SEC) could approve exchange-traded funds (ETFs) tied to the spot price of ether as soon as Jul 4, as talks between asset managers and regulators enter the final stages, industry executives and other participants said.

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GXS Bank receives S$229.5 million capital injection from backers

GXS Bank has received a S$229.5 million capital injection from backers Singtel and Grab, according to regulatory filings with the Accounting and Corporate Regulatory Authority of Singapore.

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China’s financial elite face 2.9 million yuan pay caps, bonus clawbacks

THE era of big paychecks for Chinese financiers is fast coming to an end as some of the industry’s biggest companies impose strict new limits to comply with President Xi Jinping’s “common prosperity” campaign.

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