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Business 5 years ago
Big US banks offer muddled outlook on how bad coronavirus losses might get
In reporting third-quarter results, CEOs and finance chiefs at the five biggest US lenders gave a muddled picture of what to expect. Economic conditions improved in recent months thanks to pandemic lockdowns lifting, as well as government assistance and loan forbearance. But it is not clear that stimulus programs will continue or whether the world is headed for a new wave of infections.
Business 5 years ago
Chinese banks to post first first-half profit drop in over a decade amid pandemic pain
Some of China’s largest banks are set to post their first drop in first-half profits since the global financial crisis, hit by a surge in bad debt and higher loan-loss provisions due to the coronavirus pandemic, analysts and official data indicate.
Business 5 years ago
Global dividend plunge to be worst since financial crisis
The coronavirus crisis will see the world’s biggest firms slash dividend payouts between 17 percent-23 percent this year or what could be as much US$400 billion, a new report has shown, although sectors such as tech are fighting the trend.
Business 5 years ago
State-owned banks disburse nearly $3 billion in working capital loans using govt funding
State-owned banks have collectively disbursed Rp 43.5 trillion (US$2.99 billion) in working capital loans using funding provided by the government, deputy State-Owned Enterprises (SOEs) minister Kartika “Tiko” Wirjoatmodjo has said.
Business 5 years ago
US House passes bill to sanction Chinese banks over Hong Kong
The US House of Representatives passed legislation on Wednesday that would penalize banks doing business with Chinese officials who implement a national security law that House Speaker Nancy Pelosi called a “brutal, sweeping crackdown” on Hong Kong.
