ANZ and UOB come under scrutiny over dealings with Myanmar Army Bank | Banking News

Major international financial institutions have transacted with Innwa Bank since the coup, documents show. Big banks, including Australia’s ANZ, continued to do business with a bank owned by Myanmar’s military administration despite its bloody crackdown on anti-coup protests, according to an advocacy group and leaked documents. ANZ, one of Australia’s ‘big four’ banks, was used … Read more

Wall Street lambasted for ‘whitewashing’ Hong Kong crackdown | Business and Economics News

Kuala Lumpur, Malaysia – The Hong Kong government has invited the biggest names on Wall Street to a summit to show the financial hub is open for business after nearly three years of isolation due to pandemic curbs. Instead, the presence of senior bank executives at the rally has become a lightning rod for criticism … Read more

FTSE 100 Live: Business Secretary Rees-Mogg resigns; HSBC profits plummet

1666701728 Jeremy Hunt will remain Chancellor under Rishi Sunak Jeremy Hunt is expected to remain Chancellor, according to reports from Sky News. Hunt took office just over a week ago after Kwasi Kwarteng left after markets spooked over his so-called mini-budget. 1666700131 Jacob Rest-Mogg resigns as commercial secretary Jacob Rees-Mogg resigned from government after Rishi … Read more

Business activity slows due to soaring energy costs

The business climate in the euro zone fell again ahead of an ECB meeting at which President Christine Lagarde is expected to raise rates again. Anna Moneymaker | Getty Images News | Getty Images European commercial activity was hit again in October, recording the largest production loss since April 2013, excluding pandemic closures. Businesses have … Read more

Credit Suisse looks to the Middle East to increase its capital | Business and Economics News

Credit Suisse Group AG has turned to Middle Eastern sovereign wealth funds for a capital raise, news agencies report. The scandal-hit Swiss bank has approached at least one Middle Eastern sovereign wealth fund for a capital injection, Reuters reported on Monday, citing an unnamed source. Abu Dhabi and Saudi Arabia are considering whether to invest … Read more