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Manulife eliminates 50 jobs as it outsources property management

MANULIFE Financial is eliminating about 50 jobs in the US and Canada as part of a plan to outsource some real estate operations and focus more on investing.

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FTX invoked by Canada banks group in call for payment safeguards

THE main lobbying group for Canada’s banking industry invoked the collapse of FTX and Celsius Network in warning that the government needs to establish better consumer protections for the country’s payments systems.

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Credit Suisse offers 889m shares to existing investors in US$4b capital hike

CREDIT Suisse has made 889 million new shares available to existing investors at 2.52 Swiss francs (S$3.68) per share, the bank said on Thursday (Nov 24), confirming the final terms of its 4 billion franc capital hike.

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Credit Suisse offers 889m shares to existing investors in 4b Swiss franc capital hike

CREDIT Suisse has made 889 million new shares available to existing investors at 2.52 Swiss francs (S$3.68) per share, the bank said on Thursday (Nov 24), confirming the final terms of its 4 billion franc capital hike.

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Higher interest rates hit reinsurance capital, combining with climate change to push insurance costs up

THE pool of funds available for reinsurance will decline as rising interest rates and a volatile market put heightened pressure on the sector. In the long run, climate change is likely to also raise the cost of capital for reinsurers.

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US dollar holds losses as Fed minutes signal slower rate hikes

THE US dollar held onto losses on Thursday (Nov 24), after the minutes from the Federal Reserve’s November meeting supported the view that the central bank would downshift and raise rates in smaller steps from its December meeting.

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Credit Suisse clients flee to UBS in Asia as rich weigh options

UBS Group has seen significant inflows into its Asia-Pacific wealth management over the past three months from clients fleeing Credit Suisse Group, as its smaller Swiss rival struggles with a crisis of confidence.

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Latest Singapore’s Treasury bill offers 3.9% in yield

THE latest six-month Treasury bills (T-bills) issued by the Singapore government emerged 2.5 times oversubscribed, causing a delay to the publication of the results of the auction on Thursday (Nov 24).

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Yield for latest Singapore Treasury bill falls to 3.9% as more go for competitive bids

AS THE proportion of non-competitive applications shifted in favour of competitive bids with a specified yield, the cut-off yield on the latest Singapore six-month Treasury bill (T-bill) fell to 3.9 per cent on Thursday (Nov 24), from 4 per cent a fortnight ago.

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Billionaire investor Ackman bets Hong Kong dollar peg can break

BILLIONAIRE investor Bill Ackman said he’s betting the Hong Kong dollar will fall and that its peg to the US dollar can break, the latest big money manager to take a public short bet as US rate hikes turn the blowtorch on Hong Kong’s currency system.

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