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Global equity funds bag first weekly inflow in 10 weeks

GLOBAL equity funds drew their first weekly inflow in 10 weeks in the week to Wednesday (Jan 11), on hopes of easing inflation and expectations that China’s reopening would boost global economies.

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BlackRock quarterly profit slips on lower fee income

BLACKROCK reported an 18 per cent drop in fourth-quarter profit on Friday (Jan 13), hit by a global market rout that squeezed fee income.

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Wells Fargo profit falls 50% on higher reserves, costs

WELLS Fargo on Friday (Jan 13) reported a 50 per cent decline in profit for the fourth quarter as the bank racked up more than US$3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown.

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JPMorgan profit rises 6% on trading strength

JPMORGAN reported a 6 per cent rise in fourth-quarter profit on Friday (Jan 13), as a better-than-expected performance from the bank’s traders more than offset a hit from a slump in dealmaking.

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Bank of America’s Q4 profit beats estimates

BANK of America Corp reported a better-than-expected fourth-quarter profit on Friday (Jan 13) as rate hikes helped it charge more interest on loans to customers.

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Goldman Sachs revises loss for platform solutions unit to US$1.2b

GOLDMAN Sachs Group on Friday (Jan 13) revised its pre-tax loss related to its newly formed platform solutions unit for the first nine months of 2022 to US$1.2 billion, the bank said in a regulatory filing.

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Goldman Sachs platform solutions business lost US$1.2b in 9-months

GOLDMAN Sachs Group disclosed a pretax loss for its newly-created platform solutions business of US$1.2 billion for the first nine months of 2022, the bank said in a regulatory filing on Friday (Jan 13).

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Singapore crypto firm Hodlnaut’s creditors seek its liquidation

KEY creditors of embattled crypto lender Hodlnaut rejected a proposed restructuring plan and prefer to liquidate the company.

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PBOC to maintain or increase policy-loan liquidity: poll

CHINA’S central bank is likely to at least maintain current liquidity in the banking system on Monday (Jan 16) through its management of medium-term policy loans, while keeping borrowing costs unchanged for a fifth straight month, a Reuters survey showed.

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Japan expects local FTX clients to get funds back from February

JAPAN’S financial watchdog expects the local unit of Sam Bankman-Fried’s failed crypto empire FTX will repay funds to customers starting next month, according to a senior official.

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