https://www-scmp-com.libproxy1.nus.edu.sg/rss/110607/feed Barclays Bank is one of the world’s oldest banks. In June 2012, it was fined 290 million pounds (US$450 million) for attempting to manipulate the daily settings of London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor). The bank's chief executive, Bob Diamond, decided to give up his bonus as a result of the fine, and subsequently resigned after a wave of criticism against the bank. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg Zhang Shidong Zhang Shidong China’s deliberation on its sweeping cross-border anti-corruption law may ripple through Hong Kong’s financial and property markets, as Beijing seeks harsher punishments for corrupt officials and broadens its scrutiny of the massive pool of wealth transferred overseas. Hong Kong remains in focus after the draft law was submitted on Tuesday to the standing committee of the national legislature for deliberation, analysts said. The law was “designed to give mainland authorities a clearer statutory... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365213/hong-kongs-property-financial-markets-face-test-under-cross-border-anti-corruption-law?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3365213/hong-kongs-property-financial-markets-face-test-under-cross-border-anti-corruption-law?utm_source=rss_feed Tue, 25 Aug 2026 23:00:08 +0000 dpa dpa UK Trade Secretary Peter Kyle is seeking to boost UK services exports to China as he hosts a delegation from the country on Tuesday. Peter Kyle and China’s Commerce Minister Wang Wentao will jointly host the 15th UK–China Joint Economic and Trade Commission at Mansion House in London. They will launch a “trade booster” initiative designed to support UK businesses expanding their exports into China during the visit. Brompton Bikes and HSBC are among the British businesses attending, while firms... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3358956/uk-trade-secretary-hosts-chinese-delegation-bid-boost-services?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3358956/uk-trade-secretary-hosts-chinese-delegation-bid-boost-services?utm_source=rss_feed Tue, 30 Jun 2026 22:27:59 +0000 Zhang Shidong Zhang Shidong Chinese property stocks are poised for a comeback, as investors believe that a rebound in tier-one city home prices is a sign that the sector’s years-long woes are nearing an end. The pickup in home prices in mega cities such as Beijing and Shanghai has coincided with a spike in transaction volumes, indicating that buyers are piling in after prices have fallen to more affordable levels. In March, more than 30,000 lived-in homes were sold in Shanghai, the highest in five years, after the city... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3352031/battered-chinese-property-stocks-primed-comeback-industry-shows-signs-turning?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3352031/battered-chinese-property-stocks-primed-comeback-industry-shows-signs-turning?utm_source=rss_feed Fri, 01 May 2026 04:30:09 +0000 Alex Lo Alex Lo Genocides committed or sponsored by the West have often been a highly profitable business. Whether it was against the native American population in the United States throughout much of the 19th century, the colonisation of the Congo by King Leopold II of Belgium, or the Nazi Holocaust, many individuals and companies have profited greatly from humanity’s worst crimes – through direct participation or by providing services and support. A new report by Francesca Albanese, the courageous UN special... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3317502/its-time-business-stop-profiting-israels-economy-genocide?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3317502/its-time-business-stop-profiting-israels-economy-genocide?utm_source=rss_feed Thu, 10 Jul 2025 01:00:11 +0000 Bloomberg Bloomberg Traders are seeking alternatives to the euro when shorting the US dollar as they look to capitalise on expectations for further weakness in the currency. Long euro positions against the US dollar remain in favour due to optimism over increased defence spending in the single-currency region. Traders, though, are looking to bet that currencies such as the Chinese yuan, Australian dollar and South Korean won will strengthen versus their US peer on expectations the Federal Reserve will resume... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3317217/which-currencies-may-trump-us-dollar-traders-look-yuan-aussie-and-won?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3317217/which-currencies-may-trump-us-dollar-traders-look-yuan-aussie-and-won?utm_source=rss_feed Mon, 07 Jul 2025 07:26:27 +0000 Nicholas Spiro Nicholas Spiro In the past month, Wall Street banks have come out with their midyear outlooks for the global economy and markets. The tone and substance of the reports are markedly more upbeat than the research published as recently as early May. Bank of America said “faster trade de-escalation means the global outlook is somewhat better than we anticipated”. Morgan Stanley said “we push back against the idea that foreign investors would or should abandon US assets significantly”. Barclays, meanwhile, went so... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3316752/why-investors-banking-peak-trump-are-dangerously-wrong?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3316752/why-investors-banking-peak-trump-are-dangerously-wrong?utm_source=rss_feed Thu, 03 Jul 2025 08:30:10 +0000 Carol Yang Carol Yang While China’s economy has shown considerable resilience through a turbulent first half of 2025 – navigating the dramatic twists and turns of US trade policy while maintaining steady growth - experts warn Beijing’s challenges are far from over. Although many believe the country can still hit its annual goal of “around 5 per cent” for gross domestic product growth, more pressure points are expected to emerge in the latter half of the year. After the bilateral trade war saw a temporary... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3316531/china-mostly-unscathed-turbulent-six-months-2025-still-uphill-climb?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3316531/china-mostly-unscathed-turbulent-six-months-2025-still-uphill-climb?utm_source=rss_feed Tue, 01 Jul 2025 23:00:15 +0000 Nicholas Spiro Nicholas Spiro Everyone loves a catchy acronym. In financial markets, investment analysts spend a lot of time trying to come up with initialisms that encapsulate a popular theme or trend. A good example is FOMO, or fear of missing out, especially when it comes to stock market rallies. Another one is Brics, first coined in 2001 by former Goldman Sachs economist Jim O’Neill to draw attention to opportunities in Brazil, Russia, India and China. However, it is not often that a journalist coins an acronym that... https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3313125/why-taco-trade-no-laughing-matter-global-economy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/opinion/world-opinion/article/3313125/why-taco-trade-no-laughing-matter-global-economy?utm_source=rss_feed Thu, 05 Jun 2025 08:30:08 +0000 Julie Zhang Julie Zhang Ant International predicts that its artificial intelligence (AI) model for foreign exchange (FX) could have as large an impact on financial services as OpenAI’s large language model (LLM) GPT has had in the broader business world. The Time-Series Transformer (TST) AI FX Model developed by the Singapore-based fintech company focuses on numerical data prediction rather than content generation. Kelvin Li, general manager of the company’s platform tech business unit, called it “another track to AI”,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3311995/ant-international-numerical-ai-model-gpt-financial-services?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3311995/ant-international-numerical-ai-model-gpt-financial-services?utm_source=rss_feed Wed, 28 May 2025 00:30:07 +0000 Aileen Chuang Aileen Chuang The third and final part of the decoupling series looks at how Hong Kong’s financial system is crucial for China to advance the internationalisation of the yuan amid geopolitical tensions and discussions on de-dollarisation. Read part one and part two. Anyone seeking evidence that international businesses are actively looking to diversify from the US dollar can find it in Qatar, according to Mary Huen Wai-yi, chairwoman of the Hong Kong Association of Banks. Businesses in the affluent Middle... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3311570/why-chinas-yuan-needs-hong-kong-reach-new-international-heights?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3311570/why-chinas-yuan-needs-hong-kong-reach-new-international-heights?utm_source=rss_feed Sat, 24 May 2025 04:00:09 +0000 Amy Sood Amy Sood India has emerged as the top stock market pick in Asia by wealth fund managers, who view the country as a potential beneficiary of global supply chain shifts driven by US-China trade tensions, despite its unresolved trade talks with Washington and ongoing frictions with Pakistan. About 42 per cent of fund managers have an overweight position on Indian equities, ahead of Japan at 39 per cent and China at just 6 per cent, according to a survey released by Bank of America Securities on May 13. The... https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3311114/indias-stock-market-rated-above-japan-and-china-more-fund-managers-survey?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/week-asia/economics/article/3311114/indias-stock-market-rated-above-japan-and-china-more-fund-managers-survey?utm_source=rss_feed Tue, 20 May 2025 13:00:33 +0000 Bloomberg Bloomberg Investors faced yet another bumpy start to the trading week with US assets coming under fresh pressure, although it’s mounting concern over American debt rather than tariffs generating volatility this time. Longer-dated Treasuries dipped with US equity futures and the dollar in early Asia trading after Moody’s Ratings announced on Friday evening it was stripping the American government of its top credit rating, dropping the country to Aa1 from AAA. The company, which trailed rivals, blamed... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3310872/moodys-downgrade-us-debt-fears-unsettle-markets-reviving-mini-sell-america-trade?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3310872/moodys-downgrade-us-debt-fears-unsettle-markets-reviving-mini-sell-america-trade?utm_source=rss_feed Mon, 19 May 2025 04:45:42 +0000 Bloomberg Bloomberg US employment growth probably decelerated in April and the jobless rate held steady, illustrating healthy yet moderating labour demand entering a period when trade policy risks chilling hiring decisions. Non-farm payroll growth probably decelerated to 138,000 last month after blowing away expectations in March, according to the median estimate in a Bloomberg survey of economists. The joblessness rate is seen unchanged at 4.2 per cent. The data due Friday from the Bureau of Labor Statistics... https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3308776/us-jobs-growth-probably-slowed-april-economy-braces-tariff-impact-poll-shows?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/markets/article/3308776/us-jobs-growth-probably-slowed-april-economy-braces-tariff-impact-poll-shows?utm_source=rss_feed Fri, 02 May 2025 03:33:47 +0000 Bloomberg Bloomberg ASML Holding reported orders for the first quarter that were almost €1 billion less than expected and warned that it did not know how to quantify the impact from recent tariff announcements, which are threatening to upend the semiconductor industry. The Dutch company, which counts Taiwan Semiconductor Manufacturing Company and Intel among its biggest customers, reported bookings of €3.94 billion (US$4.47 billion). Analysts on average expected €4.82 billion, according to data compiled by... https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-war/article/3306775/asmls-orders-fall-short-amid-ai-demand-concerns-ceo-warns-tariff-uncertainty?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/tech/tech-war/article/3306775/asmls-orders-fall-short-amid-ai-demand-concerns-ceo-warns-tariff-uncertainty?utm_source=rss_feed Wed, 16 Apr 2025 09:25:03 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong stocks traded near a one-month low as traders reduced risk-taking amid a countdown to US President Donald Trump’s expected tariff measures against most of its trading partners. The Hang Seng Index slipped less than 0.1 per cent to 23,202.53 on Wednesday. The Hang Seng Tech Index pared gain to 0.4 per cent while the Shanghai Composite Index added less than 0.1 per cent. Xiaomi tumbled 4.2 per cent to HK$44.55 for a fifth straight day of losses, amid concerns about the safety of... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3304827/hong-kong-stocks-drop-trump-tariff-jitters?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/3304827/hong-kong-stocks-drop-trump-tariff-jitters?utm_source=rss_feed Wed, 02 Apr 2025 02:13:12 +0000 Aileen Chuang Aileen Chuang Barclays plans to leverage its strength in investment banking and technology to prepare for a turbulent year ahead in the region amid trade wars and recession risks, after the UK banking group produced its best returns on equity since 2021 last year. “There’s a lot of risk in the market at the moment, with geopolitical instability, trade wars, trade tariffs and controls, cyber threats, inflation and interest-rate uncertainty creating an increasingly dynamic environment for financial institutions... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3301909/barclays-leverage-investment-banking-tech-strengths-grow-asia-pacific-markets?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3301909/barclays-leverage-investment-banking-tech-strengths-grow-asia-pacific-markets?utm_source=rss_feed Tue, 11 Mar 2025 06:37:53 +0000 Yuke Xie Yuke Xie China’s onshore investors are increasingly optimistic about the outlook for the mainland’s economy and financial markets, following an artificial intelligence (AI)-led rally and an official embrace of entrepreneurs, but uncertainties including strained US-China relations could complicate the picture, according to global banks. Local governments and companies, particularly in China’s more developed coastal regions, were prepared to boost AI-related investments and spending, and “animal spirits”... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3300825/chinas-ai-boom-and-xis-private-sector-support-fuel-market-optimism-us-tariffs-loom?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3300825/chinas-ai-boom-and-xis-private-sector-support-fuel-market-optimism-us-tariffs-loom?utm_source=rss_feed Mon, 03 Mar 2025 07:51:29 +0000 By Ryan Browne Big banks have no advantage over financial technology start-ups when it comes to artificial intelligence, a former Barclays chief executive has said. Antony Jenkins, who led the bank between 2012 and 2015, said that banks have a tendency to focus on mainframe data storage rather than seeking solutions on the cloud. “I think the biggest myth of all… is that banks and other financial services providers are advantaged in this new world because the logic is that they have a lot of... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/2115028/ai-innovation-unlikely-come-big-bank-former-barclays-ceo?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/2115028/ai-innovation-unlikely-come-big-bank-former-barclays-ceo?utm_source=rss_feed Thu, 12 Oct 2017 05:00:45 +0000 Five decades since it heralded a transformation in the way people obtained and used cash, the world’s first ATM was turned into gold for celebrations of its 50th anniversary. The brainchild of Scottish inventor Shepherd-Barron, the first ATM (automated teller machine) was opened on June 27, 1967 at a branch of Barclays bank in Enfield, north London, the first of six cash dispensers commissioned by the bank. English actor Reg Varney, who starred in the British TV comedy show On The Buses, was the... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/2100236/atm-turns-50-london-location-worlds-first-hole-wall-gets-gold?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/2100236/atm-turns-50-london-location-worlds-first-hole-wall-gets-gold?utm_source=rss_feed Tue, 27 Jun 2017 10:58:20 +0000 By Arjun Kharpal Barclays has been in discussions with regulators and financial technology – or fintech – firms about bringing cryptocurrencies like bitcoin “into play”, the bank’s U.K. chief executive told CNBC on Monday. Ashok Vaswani revealed that the banking giant has met with Britain’s Financial Conduct Authority (FCA) watchdog to talk about how to make bitcoin safe in response to a question about whether Barclays could support bitcoin. “We have been talking to a couple of fintechs and have... https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/2100030/barclays-has-spoken-regulators-about-bringing-bitcoin-play?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/tech/article/2100030/barclays-has-spoken-regulators-about-bringing-bitcoin-play?utm_source=rss_feed Mon, 26 Jun 2017 09:30:30 +0000 Britain’s Serious Fraud Office said Tuesday it had charged Barclays, a former chief executive of the banking giant and three other ex-managers, with “conspiracy to commit fraud” linked to emergency fundraising from Qatar during the financial crisis. The SFO added in a statement that former chief executive John Varley was one of those to face court following a five-year investigation. “The Serious Fraud Office has today charged Barclays Plc and four individuals with conspiracy to commit fraud and... https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/2099158/barclays-and-former-executives-charged-fraud-over-qatar-funding?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/world/europe/article/2099158/barclays-and-former-executives-charged-fraud-over-qatar-funding?utm_source=rss_feed Tue, 20 Jun 2017 07:33:23 +0000 Anthony Davies has been appointed chief executive of Barclays Bank’s Hong Kong branch, according to an internal company statement seen by the South China Morning Post. The move, which comes at a challenging time for banks in Hong Kong, is Barclays’ first high-level appointment in Asia-Pacific after the firm announced significant job losses in the region at the start of this year. According to the internal memorandum, which was sent by Asia-Pacific chief executive Andrew Jones, Davies will assume... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1975895/barclays-names-new-hong-kong-chief-sector-woes-deepen?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1975895/barclays-names-new-hong-kong-chief-sector-woes-deepen?utm_source=rss_feed Wed, 15 Jun 2016 14:54:49 +0000 British bank Barclays has ousted chief executive Antony Jenkins after three years in the post, saying on Wednesday it had decided new blood would help accelerate strategic change and boost shareholder returns. The surprise ouster comes just three months after John McFarlane took over as chairman and signalled his intention to speed up its turnaround plan. McFarlane will assume executive duties until a permanent successor is appointed. Independent directors of Barclays had been concerned about... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1834572/british-bank-barclays-axes-ceo-jenkins?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1834572/british-bank-barclays-axes-ceo-jenkins?utm_source=rss_feed Wed, 08 Jul 2015 10:48:43 +0000 Barclays, the British bank that is cutting thousands of jobs worldwide, is now hiring in Asia-Pacific to refocus its investment-banking business, according to its co-chief executive for the region. "We have cut jobs," Asia-Pacific co-chief executive Andrew Jones said. "We are hiring to basically fill out the business, and we adopted a new model which is more country-centric." When asked where the firm is hiring, he said Indonesia is a place of "particular focus". The London-based bank is also... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1635981/barclays-hiring-asia-despite-cutting-jobs-elsewhere?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1635981/barclays-hiring-asia-despite-cutting-jobs-elsewhere?utm_source=rss_feed Sun, 09 Nov 2014 20:48:50 +0000 Barclays, Britain's second-biggest bank by assets, will start eliminating 100 jobs across its Asia-Pacific investment banking and markets businesses this week, a person with knowledge of the matter said. The cuts represented about 5 per cent of the London-based firm's investment bank workforce in the region, said the person, who asked not to be named. Barclays would also name Vanessa Koo to replace Edward King as Asia-Pacific head of mergers and acquisitions, the person said. The dismissals come... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1524859/barclays-begin-cutting-jobs-asia-pacific?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1524859/barclays-begin-cutting-jobs-asia-pacific?utm_source=rss_feed Tue, 03 Jun 2014 21:08:15 +0000 Is it too late to get your bonus in May? I'm talking about last year's bonus, not this year's. It is something that some Hong Kong-based staff at several mainland investment banks have been waiting anxiously for. The 2008 global financial crisis that originated on Wall Street changed the industry landscape significantly and also resulted in big changes to the job market for banking professionals in Asia. Many have left big international banks such as HSBC and Citigroup for rapidly expanding... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1509921/mainland-china-banks-hong-kong-go-quiet-last-years-promised?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1509921/mainland-china-banks-hong-kong-go-quiet-last-years-promised?utm_source=rss_feed Sun, 11 May 2014 19:00:15 +0000 When the world applauds your obituary, as it has the death of Barclays' global ambitions, it seems you have been doing something wrong. Barclays' shares rallied 7.69 per cent on Thursday after the bank announced a sweeping restructuring, the central planks of which are the creation of a bad bank to house impaired assets and, more importantly, huge cut-backs in investment banking. It all amounts to an end for Barclays' long-time goal to be a global universal bank, a project fertilised by the... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1508628/was-barclays-problem-or-its-business-model?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1508628/was-barclays-problem-or-its-business-model?utm_source=rss_feed Fri, 09 May 2014 17:20:43 +0000 Barclays will contest a record US$453 million (HK$3.5 billion) fine imposed by a US energy regulator against the British bank and four of its power traders, setting up a likely federal court battle. The fines, which were upheld by the Federal Energy Regulatory Commission (FERC) on Tuesday, confirm the top US energy cop will pursue its most ambitious market manipulation case to date. For Barclays, the sanction is the latest of a series of scandals that include a US$450 million fine by US and UK... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1285308/barclays-fight-us453m-power-fine-us-court?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1285308/barclays-fight-us453m-power-fine-us-court?utm_source=rss_feed Thu, 18 Jul 2013 04:57:11 +0000 Every time an excited press release arrives about a new report from a public relations or corporate communications executive representing a private bank, my hopes rise.  Please, please may this one contain some nugget of inspiration I can tease into something interesting. But rarely am I rewarded for ploughing through the “revelations” about the amazing habits of High Net Worth Individuals (HNWI) as the Wealth Management industry calls them. You wonder how anyone became and stayed rich before... https://www-scmp-com.libproxy1.nus.edu.sg/comment/blogs/article/1264385/defeated-barclays-press-release?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/comment/blogs/article/1264385/defeated-barclays-press-release?utm_source=rss_feed Wed, 19 Jun 2013 11:06:36 +0000 Barclays chairman David Walker has hit back against what he said has become the “political and media industry” of badmouthing banks and bankers, and insisted on banks’ vital role in a free-market economy. “The persistence of hostility to banks and bankers, much more marked in Europe than elsewhere, is in my view seriously unhealthy,” he told the a Montreal conference. “The function of banking needs to be recognised as a key contributor to recovery in a developed world, in which credit is... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1258308/barclays-fires-back-says-hostility-banks-unhealthy?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1258308/barclays-fires-back-says-hostility-banks-unhealthy?utm_source=rss_feed Tue, 11 Jun 2013 02:19:39 +0000 British bank Barclays, seeking to fix its battered reputation caused by last year’s Libor rate-rigging scandal, said Wednesday that it returned to profit in the first quarter with net earnings of 839 million pounds (HK$9.94 billion) after a loss in the first three months of last year. Barclays recorded a profit after tax following a net loss of 598 million (HK$7.08 billion) in the first quarter of last year, the bank said in an earnings statement. “While there remains much to do to build a... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1222172/barclays-bank-returns-profit-first-quarter?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1222172/barclays-bank-returns-profit-first-quarter?utm_source=rss_feed Wed, 24 Apr 2013 07:45:44 +0000 Barclays chief executive Antony Jenkins has ordered employees to sign up to a new ethical code of conduct or quit, as he seeks to draw a line under last year's damaging Libor manipulation crisis. "We must never again be in a position of rewarding people for making the bank money in a way which is unethical or inconsistent with our values," he wrote in an internal memo issued to the banking group's 140,000 staff. He added: "There might be some who don't feel they can fully buy in to an approach... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1131238/barclays-chief-tells-staff-behave-ethically-or-quit?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1131238/barclays-chief-tells-staff-behave-ethically-or-quit?utm_source=rss_feed Fri, 18 Jan 2013 16:00:00 +0000 UBS, Switzerland's biggest bank, must pay about 1.4 billion Swiss francs (HK$11.84 billion) to US, British and Swiss regulators for trying to rig global interest rates, triple the penalties levied against Barclays. Fines from the US Commodity Futures Trading Commission and the United States Department of Justice total US$1.2 billion, UBS said yesterday. It will pay £160 million (HK$2.01 billion) to the British Financial Services Authority (FSA), the largest fine imposed by that regulator, and... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1108493/ubs-fined-hk12b-rigging-global-interest-rates?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/1108493/ubs-fined-hk12b-rigging-global-interest-rates?utm_source=rss_feed Wed, 19 Dec 2012 16:00:00 +0000 A Chinese group agreed to buy 80.1 per cent of American International Group’s plane-leasing unit for US$4.23 billion in the nation’s largest acquisition of a US company. The International Lease Finance Corporation acquirers, led by New China Trust Chairman Weng Xianding, have an option to buy another 9.9 per cent, New York-based AIG said today in a statement. The transaction, which values ILFC at US$5.3 billion, passes China Investment Corporations’ US$3 billion purchase of a stake in Blackstone... https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/1102017/chinese-investors-buy-80pc-aig-plane-unit-us42b?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/companies/article/1102017/chinese-investors-buy-80pc-aig-plane-unit-us42b?utm_source=rss_feed Mon, 10 Dec 2012 02:20:17 +0000 As lawsuits mount from aggrieved parties in the Libor scandal, one party is keeping tight-lipped: Chinese investment institutions that are wary of revealing too much about their dealings. A flurry of suits have been filed from parties ranging from individual investors to fund managers to banks, all claiming to have been hurt financially by a group of banks that manipulated the London interbank offered rate (Libor). The setting of the key interest rate - on which everything from derivative... https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/1038565/chinese-investment-institutions-remain-silent-over-libor?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/china-business/article/1038565/chinese-investment-institutions-remain-silent-over-libor?utm_source=rss_feed Sun, 16 Sep 2012 16:00:00 +0000 China Development Bank will see its stake in a merged Barclays Bank-ABN Amro limited to 6.7 per cent, from a maximum of 7.7 per cent, after shareholders in the British lender bought new shares in it as part of the acquisition agreement with the mainland firm. Invited Barclays shareholders and institutional investors bought 153.8 million new shares from Barclays at GBP7.40 (HK$118.80) each, the lender said in a statement. That represents 67 per cent of the 229.7 million shares the... https://www-scmp-com.libproxy1.nus.edu.sg/article/601871/cdb-stake-barclays-abn-limited-67pc-investors-boost-holdings?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/601871/cdb-stake-barclays-abn-limited-67pc-investors-boost-holdings?utm_source=rss_feed Wed, 25 Jul 2007 16:00:00 +0000 Whether inspecting furniture factories in China or supervising office fit-outs, attention to quality is vital, says MCV Asia senior project manager Mary Chow THE FIRST THING I DO WHEN I arrive at the office each morning is check my e-mail and see what needs to be done immediately. I have a number of projects going on at any point in time, so there is always something that needs attention. It could be a client's inquiry or a furniture delivery that has to be met - our furniture comes from... https://www-scmp-com.libproxy1.nus.edu.sg/article/537809/delivering-excellence-lies-checking-detail?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/537809/delivering-excellence-lies-checking-detail?utm_source=rss_feed Fri, 24 Feb 2006 16:00:00 +0000 HENDERSON Land Development signed a five-year term loan facility of $2.65 billion yesterday, partly to refinance the five-year $1.2 million medium-term loan arranged by Barclays Bank in 1990 and partly for working capital. The facility carries an margin of 0.725 per cent over HIBOR (Hong Kong Inter-bank Offered Rate). https://www-scmp-com.libproxy1.nus.edu.sg/article/104430/henderson-signs-loan?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/104430/henderson-signs-loan?utm_source=rss_feed Mon, 23 Jan 1995 16:00:00 +0000 AMOY Properties has raised $1.5 billion through a syndicated loan to re-finance its acquisition of the Standard Chartered Bank Building. Barclays Bank and Deutsche Bank, Hongkong branch, arrangers of the loan facilities, announced a 50 per cent over-subscription from financial institutions. Barclays said the dual currency transferable loan facilities allowed lenders to participate either in Hongkong dollars or in Hongkong and US dollars. It said the facilities had a three-year maturity... https://www-scmp-com.libproxy1.nus.edu.sg/article/21838/amoy-15b-loan-buy-chartered-hq?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/article/21838/amoy-15b-loan-buy-chartered-hq?utm_source=rss_feed Fri, 12 Mar 1993 16:00:00 +0000