Credit Suisse is offering higher deposit rates than its rivals to attract new funds from wealthy clients in Asia, people with knowledge of the matter said, as the embattled private bank seeks to stem outflows and stop its bankers leaving.
Alibaba Group Holding's chip unit T-Head and Alipay, the payment service under Alibaba's financial affiliate Ant Group, will release computing chips for secure payments based on the RISC-V instruction set architecture, the two entities said.
Toronto-Dominion Bank's quarterly profit beat estimates on Thursday, as robust growth in personal loans in Canada and the United States overshadowed weakness in its wealth management and insurance unit.
Italy's biggest bank Intesa Sanpaolo on Thursday said it would spend 360 million euros ($382 million) in cash to buy the 26.2% of healthcare insurer Intesa Sanpaolo RBM Salute it did does not own.
Countries in debt distress such as Zambia and Sri Lanka turning to the International Monetary Fund (IMF) for financial help are facing unprecedented delays to secure bailouts as China and Western economies clash over how to provide debt relief.
China is willing to "constructively" participate in solving the debt problems of relevant countries under a multilateral framework, Premier Li Keqiang said on Wednesday.
Metro Bank ramped up its provisions for bad loans more than 75% to 40 million pounds in 2022 as the British mid-sized lender pointed to the beginning of a "potentially more challenging phase of the credit cycle".
London Stock Exchange Group announced plans to buy back more of its shares on Thursday as it raised its income growth outlook and highlighted its successful integration of Refinitiv, saying this had supercharged its ability to generate cash.
Australia's central bank is launching 14 pilot projects with the financial industry to develop real world applications for a digital Australian dollar, with the focus on business use rather than a new public means of exchange.
Banks and asset managers have set up a new task-force to study whether Europe should keep up with Wall Street by halving the time it takes to settle share trades.
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