Posts by Stephanie Irvin
Private equity AUM to more than double by 2029, but Apac may lag global average
GROWING interest from non-institutional investors – including family offices and individual investors – will help support a 106 per cent increase in private equity assets under management (AUMs) over the six years to 2029, said private markets data provider Preqin. The fastest rates of growth will likely continue to be among funds targeting North America,…
Read MoreJPMorgan in talks with Apple over Goldman credit card partnership: source
JPMORGAN Chase is in talks with Apple about replacing Goldman Sachs as the tech giant’s credit-card partner, a source familiar with the matter said on Tuesday (Sep 17). The discussions started earlier this year and have advanced in recent weeks, but any potential deal could still be months away, said the source, who asked not…
Read MoreEV tariffs will damage Germany, China, says Chinese commerce minister
CHINA’S commerce minister said the European Union’s imposition of tariffs on electric vehicles (EV) will “seriously interfere” with trade and investment cooperation and hurt both China and Germany. In talks on Tuesday (Sep 17) with German Vice Chancellor and Economic Minister Robert Habeck, Wang Wentao said he hoped to reach a solution in line with…
Read MoreGoldman Sachs taps Rob Drake-Brockman to be Singapore CEO
GOLDMAN Sachs appointed Rob Drake-Brockman as chief executive officer of its Singapore office, as the city-state rises in importance for the Wall Street firm. Drake-Brockman will continue as head of equities distribution and execution for Asia-Pacific, according to a statement. He will take over as CEO following regulatory approval from James Ellery, who is moving…
Read MoreStarbucks’ new Brazil operator targets 1,000 locations in aggressive expansion
BRAZILIAN restaurant operator Zamp is looking to expand Starbucks’ presence in the country to 1,000 locations – a nearly ten-fold increase from today. Zamp, which is backed by Mubadala Capital, sees the aggressive expansion starting in about two years, according to a source familiar with the matter who asked not to be named discussing private…
Read MoreRich nations running out of time to curb oil and gas funding
A GROUP of developed nations will make a new push to resolve differences amid fading prospects for a deal to restrict funding of foreign oil and gas projects by their export credit agencies. Organisation for Economic Cooperation and Development (OECD) members have held talks on an initiative put forward by European nations last November without…
Read MoreMicrosoft, BlackRock to launch US$30 billion fund for AI infrastructure
BLACKROCK and Microsoft plan to launch a more than US$30 billion fund to invest in artificial intelligence (AI) infrastructure to build data centres and energy projects, the companies said on Tuesday (Sep 17). AI models, especially those used for deep learning and large-scale data processing, require substantial computational power, leading to higher energy consumption. The…
Read MoreEurope: Stoxx 600 at two-week closing high in lead-up to Fed rate decision
EUROPE’S Stoxx 600 recorded its highest closing level in two-weeks on Tuesday (Sep 17), as global markets remained upbeat on the prospects of the US Federal Reserve possibly opting for an outsized interest rate cut later this week. The continent-wide Stoxx 600 index closed 0.4 per cent higher, with most local bourses also clocking gains. …
Read MoreHow SMEs can unlock growth with cloud accounting software
WITHIN one year of moving its accounts to the cloud, one small food and beverage (F&B) company surpassed its $1 million sales milestone. Its business advisory partner, InCorp Global, helped the firm achieve this by implementing two automation tools for the client to verify payments and sales data. This resolved inaccuracies in financial reporting, allowing…
Read MoreSGX clarifies that CEO Loh Boon Chye’s pay was unchanged at S$7.57 million in FY2024
IN AN unusual move, the Singapore Exchange (SGX) updated chief executive officer Loh Boon Chye’s remuneration amount in its annual report, a day after it was released. Loh’s total gross remuneration for the financial year ended Jun 30, 2024, was in fact S$7.57 million, according to the updated report issued by the bourse on Tuesday…
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