Posts by Liam Redmond
Citi shares drop as CEO Fraser plans deeper job cuts this year
Published Wed, Jul 15, 2026 · 11:43 AM CITIGROUP shares slumped after the bank’s top executives said they plan to bring forward job cuts and key technology investments, moves that could increase costs later this year. After reporting record earnings that beat expectations in key business lines, chief executive officer Jane Fraser told analysts and…
Read MoreChina slashes June oil refining volumes to six-year low as crude imports collapse
Processing volumes fall 18% year on year to 51.24 million tonnes – the lowest since March 2020 Published Wed, Jul 15, 2026 · 11:11 AM CHINESE oil refiners slashed output in June to the weakest level in six years, as the industry responded to worsening demand and disruptions to crude shipments from the Persian Gulf.…
Read MoreEnergy is the new water, says climate ambassador Ravi Menon
Asean needs to come up with policy responses that allow for it to be traded in a way that all parties benefit [SINGAPORE] As energy becomes a scarce resource like water, member states of Asean need to come up with policy responses that allow for energy to be traded in a way that all parties…
Read MoreAsian stocks rise on drop in US inflation rate, with South Korea’s Kospi up 7%
The index’s surge comes ahead of the next test for the AI rally, with earnings due at ASML Published Wed, Jul 15, 2026 · 10:37 AM — Updated Wed, Jul 15, 2026 · 09:42 PM [SINGAPORE] Asia’s bumpy stock markets rallied on Wednesday (Jul 15) after a surprise slowdown in US inflation scaled back expectations…
Read MoreMisuse of driver-assistance systems biggest risk to road safety: survey
Published Wed, Jul 15, 2026 · 10:21 AM [MILAN/STOCKHOLM] Motorists’ misuse of driver-assistance technology and drivers being distracted by in-vehicle features, rather than mechanical problems, are the biggest risks for road safety, according to a survey of transport specialists. The survey, published on Wednesday (Jul 15), reflects industry concerns about human error as some governments…
Read MoreGold slips as oil rally keeps inflation, rate outlook on investors’ radar
Published Wed, Jul 15, 2026 · 10:17 AM — Updated Wed, Jul 15, 2026 · 01:50 PM [BENGALURU] Gold prices fell on Wednesday (Jul 15) after climbing more than 2 per cent in the previous session, as rising oil prices fuelled inflation concerns and uncertainty over the US interest rate outlook, weighing on non-yielding bullion.…
Read MoreDBS targets S$1 trillion in AUM by 2030 as it steps up AI, hiring push
The bank plans to hire 600 more front-line advisers and platform engineers by end-2028 [SINGAPORE] DBS is looking to accumulate more than S$1 trillion in assets under management (AUM) across its retail and wealth segments by 2030, as it doubles down on artificial intelligence, partnerships and regional expansion to capture Asia’s growing wealth. To support…
Read MoreKuroda’s negative rate surprise shocked his own BOJ board, minutes show
Dissenters were concerned over Kuroda’s proposal to charge 0.1% interest on a portion of financial institutions’ deposits at the BOJ Published Wed, Jul 15, 2026 · 09:28 AM [TOKYO] The Bank of Japan’s shock introduction of negative rates in 2016 drew intense criticism from within the board with some blasting it as half-baked and a…
Read MoreUK plans default midnight social media curfew for 16- and 17-year-olds
Published Wed, Jul 15, 2026 · 08:54 AM [LONDON] Britain will introduce a default overnight curfew on social media apps for 16- and 17-year-olds, the government said, adding new restrictions for older teenagers to its plan to introduce a sweeping ban on social media for under-16s. Affected users would be blocked from using apps between midnight and 6 am…
Read MoreWells Fargo beats profit on trading boom, loan growth
Published Wed, Jul 15, 2026 · 08:09 AM WELLS Fargo beat Wall Street estimates for quarterly profit, boosted by strong investment banking fees and as it doled out more loans after its regulatory shackles were removed last year. The boost in its loan book came as consumers borrowed money for cars and credit cards, while commercial and…
Read MoreOpenAI’s first device will be movable, screenless speaker built as AI companion
OPENAI’S much-anticipated push into consumer devices is slated to begin with a mobile, screen-free smart speaker designed to be a new type of home computer for the AI era, according to people familiar with the matter. The product — still under development — is meant to serve as a human-like AI companion that lives in…
Read MoreOil prices rise 2% to one-month high as US-Iran attacks deepen supply disruption
Published Wed, Jul 15, 2026 · 06:16 AM OIL prices climbed about 2 per cent to a one-month high on Tuesday (Jul 14) after the US reimposed a naval blockade on Iran, which will reduce oil flows from the region through the Strait of Hormuz. Before the Iran war, about 20 per cent of global oil supplies flowed through the…
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