Posts by Liam Redmond
HSBC sells US$25 billion Australian home and personal loan portfolio to Blackstone
Published Fri, Jul 31, 2026 · 04:36 PM [SYDNEY] HSBC is selling its A$36 billion (US$25.30 billion) Australian home and personal loan book to global asset manager Blackstone in the world’s largest-ever home loan portfolio transaction. The deal, announced by the two companies on Friday (Jul 31), is the latest move in HSBC CEO Georges…
Read More‘No board can afford to be under-invested’ in AI: Josephine Teo at SID AI guide launch
Framework provides practical guidance to help boards navigate the opportunities and risks of artificial intelligence [SINGAPORE] As artificial intelligence becomes a boardroom priority, directors in Singapore can now tap a new framework to help them oversee its adoption and governance. The AI Guide for Boards in Singapore, launched on Friday (Jul 31) by the Singapore…
Read MorePBOC seeks to tamp down Yuan rally with stable daily fix
Published Fri, Jul 31, 2026 · 03:45 PM [BEIJING] China’s central bank signalled a preference for slower gains in the yuan, setting the daily fixing at a broadly stable level that is much weaker than expected, after the currency climbed to a three-year high. The People’s Bank of China fixed the reference rate at 6.7894…
Read MoreStanChart to transfer part of credit card, personal loan clients to Trust Bank
Trust will scale everyday banking propositions, while StanChart invests in wealth capabilities [SINGAPORE] Standard Chartered will be transferring part of its credit card and personal loan clients to Trust Bank to boost growth in Singapore. The move, which will take place in September, is expected to deepen both banks’ combined abilities to serve retail banking…
Read MoreRare Japan-South Korea joint market intervention shakes up yen and won
Both currencies are so tightly coupled that a joint intervention could double the impact, says an analyst Published Fri, Jul 31, 2026 · 01:19 PM [SINGAPORE] Japanese and South Korean authorities stepped in to buy their currencies in the open market in what sources described was a rare and an unprecedented coordinated market intervention, possibly…
Read MoreSony hikes profit forecast on gaming strength
It’s expected to benefit from the highly anticipated launch of Grand Theft Auto VI Published Fri, Jul 31, 2026 · 01:10 PM [TOKYO] Sony on Friday hiked its full-year operating profit forecast by 8 per cent to 1.72 trillion yen (US$10.72 billion), citing the strength of its gaming business. The Japanese conglomerate has received plaudits for…
Read MoreRecord profits, big deals – but have Samsung and SK Hynix eased market fears over AI?
Recollections of brutal boom-and-bust cycles are weighing heavily on memory makers’ shares IN A remarkable week, the titans of the near-US$1 trillion global memory industry smashed profit records. It took days before investors stopped selling – a testament to the depth of anxiety in markets about an AI bubble. In the June quarter, Samsung Electronics…
Read MoreBOJ keeps rates steady, delivers hawkish signal as government props up yen
Published Fri, Jul 31, 2026 · 11:45 AM [TOKYO] Bank of Japan kept interest rates steady on Friday (Jul 31) but signalled its resolve to continue pushing up borrowing costs, in the wake of the government’s yen-buying intervention overnight that failed to give the sagging currency lasting support. Japan conducted yen-buying, dollar-selling market intervention in…
Read MoreRise and fall of Situational Awareness: How Leopold Aschenbrenner’s AI fund stumbled
Sharp selloff in AI-related stocks has forced the fund to exit many of its positions Published Fri, Jul 31, 2026 · 11:21 AM LEOPOLD Aschenbrenner is the founder of Situational Awareness, an artificial intelligence-focused hedge fund that on Thursday (Jul 30) sold a chunk of its AI-related public equities and saw its assets slump sharply.…
Read MoreCitadel buys most of hedge fund Situational Awareness’ stock holdings after AI share rout: sources
Situational held positions in several prominent tech names including Broadcom, Intel and CoreWeave Published Fri, Jul 31, 2026 · 10:35 AM — Updated Fri, Jul 31, 2026 · 11:33 AM [NEW YORK] Situational Awareness, an AI-focused hedge fund run by former OpenAI researcher Leopold Aschenbrenner, sold the bulk of its stock portfolio to Ken Griffin’s…
Read More‘You’ve got to be there in the first place’: Why OCBC China’s CEO wants more Singaporeans to work overseas
Despite the Singapore government’s calls for more locals to garner experience abroad, not many have done so [SINGAPORE] Not many Singaporeans volunteer for overseas postings, especially to developing markets. But for OCBC China CEO Ang Eng Siong, taking that calculated leap became one of the defining decisions of his career. Eleven years after signing up…
Read MoreJardine stocks end mixed after morning gains; JMH, HKL decline, JC&C up 3.8% on special dividend
[SINGAPORE] Shares of Jardine Matheson Holdings (JMH) rose as much as 3.6 per cent on Friday (Jul 31) morning. This was on the back of its 9 per cent growth in underlying profit for the first half ended Jun 30 to US$735 million, from US$676 million in the previous corresponding period. The counter rose US$2.41…
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