(Reuters) – New Wells Fargo & Co (WFC.N) Chief Executive Charlie Scharf testified on Tuesday that substantial change was underway at the bank as lawmakers grilled him on the status of its remediation efforts and contingency plans related to coronavirus. “We are putting a substantially different group of people in charge of these issues,” he […]

SINGAPORE (Reuters) – Oil prices bounced around 6% on Tuesday, but analysts saw little chance of a major recovery from the biggest daily rout in nearly 30 years after top producers Saudi Arabia and Russia launched a price war. Crude was supported by hopes for a settlement and potential U.S. output cuts, but gains could […]

SINGAPORE (Reuters) – Oil prices bounced around 6% on Tuesday, but analysts saw little chance of a major recovery from the biggest daily rout in nearly 30 years after top producers Saudi Arabia and Russia launched a price war. Crude was supported by hopes for a settlement and potential U.S. output cuts, but gains could […]

SYDNEY (Reuters) – Asian markets were set for a fraught session on Tuesday after Wall Street suffered its biggest one-day loss since the 2008 financial crisis, piling pressure on policy makers globally to short-circuit the panic. Speculation of more central bank rate cuts and possible fiscal stimulus did see U.S. Treasury yields edge up from […]

LONDON (Reuters) – The move by banks to force Cineworld’s (CINE.L) top shareholder to refinance a loan without equity collateral is yet another sign of mounting stress in Europe’s junk debt market as the coronavirus roils markets and businesses around the world. Global City Theatres – a proxy for CEO Moshe Greidinger and his brother […]

NEW YORK (Reuters) – Oil prices crashed on Monday, suffering their biggest daily rout since the 1991 Gulf War, after the collapse of an OPEC+ supply agreement that now threatens to overwhelm the world with oil, inciting panic throughout the energy sector. After failing to come to an agreement to cut supply, Saudi Arabia and […]

(Reuters) – Wall Street’s main indexes dropped 7% and the Dow Jones Industrials crashed 2,000 points in what would be its biggest one-day fall ever, as trading resumed on Monday following a 22% slump in oil prices. Trading on U.S. stock exchanges was halted immediately after opening on Monday, as the S&P 500 fell 7%, […]

SYDNEY (Reuters) – Global share markets tumbled on Monday as panicked investors fled to bonds to hedge the economic shock of the coronavirus, and oil plunged more than 20% after Saudi Arabia slashed its official selling price. Investors drove 30-year U.S. bond yields beneath 1% as they wagered the Federal Reserve would be forced to […]

SINGAPORE (THE BUSINESS TIMES) – DBS Group Holdings chief executive Piyush Gupta saw his pay rise by about $230,000 or 2 per cent to $12.13 million in 2019 in his 10th year heading Singapore’s largest bank, its latest annual report out on Monday (March 9) showed. This is down from the 15.5 per cent pay […]

TAP/CLICK TO LISTEN: Money Hacks Ep 63: What are vehicle protection services?  15:13 min Synopsis: In this fortnightly podcast series on Mondays, The Business Times breaks down actionable financial tips. Follow more Money Hacks podcasts and rate us on: Spotify: http://bt.sg/oeGN Apple Podcasts: http://bt.sg/oeXe Google podcasts: http://bt.sg/oeGd Playlist: http://bt.sg/btpodcasts Website: http://bt.sg/moneyhacks Feedback to: [email protected] Do note: Any financial or investment information in this podcast […]