Credit Suisse said it will reduce the volume of new markets business from Sept. 22 while UBS integrates its former rival, the bank said in a letter sent to clients, as the 166-year-old firm winds down trading in global securities.
National Bank of Canada on Wednesday reported quarterly earnings below analysts' expectations hurt by weakness in its capital markets business and higher bad loan provisions.
An official at China's central bank urged banks to step up lending to private companies during a meeting on Wednesday with financial regulators, corporations and lenders, the state-owned Securities Times reported.
Two of China's biggest banks on Wednesday posted sluggish profit growth as the economy struggles to bounce back after the lifting of pandemic restrictions, with one saying local government financing vehicles (LGFV) had defaulted, hitting asset quality.
Walmart-owned Indian payments firm PhonePe on Wednesday said it had launched a stock broking platform Share.Market that went live with stocks and exchange trading funds, as it expanded its range of financial services.
Prudential PLC , posted a 3.6% rise in first-half operating profit on Wednesday, as the Asia-focused insurer benefited from a rebound in Chinese investors buying insurance products in Hong Kong, its key revenue centre.
Two of China's biggest cities eased mortgage curbs and the country's top banks flagged mounting risks from the deepening property sector turmoil on Wednesday, as Beijing ramps up efforts to shore up the sputtering economy.
Australia's sovereign wealth fund missed its return target for the year to June and its chairman warned on Wednesday that markets were downplaying the risks from China's economic slowdown and rising inflation.
China's Jingwei Textile Machinery Co - the biggest shareholder of troubled Zhongrong International Trust Co - saw its stock surge on Wednesday after offering to buy out investors who object to the firm's plan to switch bourses.
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